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Community Health faces investor fight in $3.9 billion HMA deal

Reuters, July 31, 2013
(Reuters) - U.S. hospital chain Community Health Systems Inc (CYH.N) said it reached a deal to buy smaller Health Management Associates Inc (HMA.N) for $3.9 billion, but quickly faced opposition from major HMA investor Glenview Capital Management over the price. Community Health said it aims to expand its geographic reach to better capitalize on an overhaul of the U.S. healthcare system under President Barack Obama's reform law. Community Health said it was prepared to do so despite a widening federal investigation into HMA's practices for admitting patients. Shortly after the deal was announced on Tuesday, HMA disclosed that it had received additional government subpoenas in the case and named a new chief executive.