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Health Mgmt paying $525M for 7 Tenn. hospitals

Fri, 07/01/2011 - 5:45am
The Associated Press

Health Management Associates Inc. said Friday it plans to pay $525 million to acquire seven hospitals in and around Knoxville, Tenn.

The hospitals are owned by Catholic Health Partners Inc.'s Mercy Health Partners unit. Health Management Associates said the hospitals have a total of 1,323 beds. The company expects the deal to close by Oct. 1.

The hospitals being acquired in the deal are Mercy Medical Center St. Mary's and Mercy Medical Center West, both in Knoxville; Mercy Medical Center North in Powell; St. Mary's Jefferson Memorial Hospital in Jefferson City; St. Mary's Medical Center of Campbell County in LaFollette; St. Mary's Medical Center of Scott County in Oneida; and Baptist Hospital of Cocke County in Newport.

Health Management Associates said it will also acquire the other health care operations associated with the hospitals, and the former Riverside hospital campus.

The company runs 60 hospitals in non-urban locations, primarily in the southeastern and southwestern U.S.

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