Published:
Health Management Associates, Inc. Executes Definitive Agreement to Acquire Sparks Health System, Fort Smith, Arkansas
NAPLES, Fla. - (BUSINESS WIRE) - Health Management Associates, Inc. (NYSE: HMA) announced today
that it has signed a definitive agreement to acquire the 492-bed Sparks
Health System located in Fort Smith, Arkansas. The transaction is
expected to be completed by November 30, 2009.
"We are very pleased to have the opportunity to continue serving the
Fort Smith community by broadening our presence with the acquisition of
the Sparks Health System," said Gary D. Newsome, HMA's President and
Chief Executive Officer. "Sparks Health System has a 122-year history of
serving the Forth Smith community's health care needs by delivering high
quality care, and we are proud to have the opportunity to continue that
rich tradition. This potential acquisition offers us additional
strategic opportunities to better serve this market and is consistent
with our intention to pursue acquisition opportunities that will
generate a positive strategic impact that compliments existing
operations."
HMA's mission is to deliver compassionate and high quality health care
services that improve the quality of life for its patients, physicians,
and the communities it serves. Upon completion of this transaction, HMA
will own and operate 55 hospitals, with approximately 8,400 licensed
beds, in non-urban communities located throughout the United States. All
references to "HMA" or the "Company" used in this release refer to
Health Management Associates, Inc. and its affiliates.
Forward-Looking Statements
This press release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended.
Forward-looking statements are subject to risks, uncertainties and
assumptions and are identified by words such as "expects," "estimates,"
"projects," "anticipates," "believes," "could," and other similar words.
All statements addressing operating performance, events, or developments
that Health Management Associates, Inc. expects or anticipates will
occur in the future, including but not limited to projections of
revenue, income or loss, capital expenditures, earnings per share, debt
structure, bad debt expense, capital structure, repayment of
indebtedness, other financial items, statements regarding the plans and
objectives of management for future operations, statements regarding
acquisitions, divestitures and other proposed or contemplated
transactions, statements of future economic performance, statements of
the assumptions underlying or relating to any of the foregoing
statements, and other statements which are other than statements of
historical fact, are considered to be "forward-looking statements."
Because they are forward-looking, such statements should be evaluated in
light of important risk factors and uncertainties. These risk factors
and uncertainties are more fully described in Health Management
Associates, Inc.'s most recent Annual Report on Form 10-K and subsequent
Quarterly Reports on Forms 10-Q under the heading entitled "Risk
Factors." Should one or more of these risks or uncertainties
materialize, or should any of Health Management Associates, Inc.'s
underlying assumptions prove incorrect, actual results could vary
materially from those currently anticipated. In addition, undue reliance
should not be placed on Health Management Associates, Inc.'s
forward-looking statements. Except as required by law, Health Management
Associates, Inc. disclaims any obligation to update or publicly announce
any revisions to any of the forward-looking statements contained in this
press release.
Health Management Associates, Inc., Naples
John C. Merriwether, Vice
President of Financial Relations, 239-598-3131
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