News Column

Community Health Completes Acquisition Of HMA

January 27, 2014

Times Record, Fort Smith, Ark.

Jan. 27 -- Community Health Systems has completed its acquisition of Health Management Associates , parent company of Sparks Health System and Summit Medical Center . Effective Monday, HMA ceased trading on the New York Stock Exchange , a Community Health news release states. Also, web traffic for www.hma.com is redirected to www.chs.net . No change in operations at the two local hospitals or the new regional service center has been given. HMA shareholders are to receive $10.50 per share in cash plus a fraction of Community Health common stock for each HMA share owned. HMA shareholders also will receive one "contingent value right" for each HMA share owned, which could yield additional cash consideration of up to $1 per share, a news release states. "We are very pleased to complete this important strategic acquisition and welcome our newly affiliated hospitals and their physicians and employees to our organization," Wayne T. Smith , chairman and chief executive officer of Community Health Systems , stated in a news release. "This transaction provides us with increased scale and broader geographic reach as we work to create strong health care networks across the nation." Through its affiliates, Community Health Systems now owns, leases or operates 206 hospitals in 29 states. The organization's affiliates employ more than 135,000 people and about 27,000 physicians serve on the medical staffs of CHS-affiliated hospitals. The CHS headquarters will remain in Franklin, Tenn. ., a suburb of Nashville . ___ (c)2014 Times Record (Fort Smith, Ark.) Visit Times Record (Fort Smith, Ark.) at www.swtimes.com Distributed by MCT Information Services


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Source: Times Record (Fort Smith, AR)


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