HMA Acquires Wuesthoff Health System for $145 Million
Health Management Associates, Inc. announced Tuesday that it will acquire the two-hospital, not-for-profit Wuesthoff Health System in Melbourne and Rockledge, FL for $145 million. The purchase is expected to be completed by Oct. 1.
Wuesthoff Health System includes the 291-bed Wuesthoff Medical Center-Rockledge, and the 115-bed Wuesthoff Medical Center-Melbourne, both of which are located in Brevard County, along the Atlantic Coast of Central Florida.
“For nearly 70 years, the Wuesthoff Health System has served the healthcare needs of Brevard County and its adjoining communities, and Health Management is pleased to have the opportunity to continue that tradition of service as we seek to enable America’s best local health care,” says Gary D. Newsome, president/CEO of HMA. “We look forward to the opportunity to work closely with the Wuesthoff physicians and associates to provide them with the processes, capital and expertise necessary to fulfill their local mission of delivering superior health care to the region.”
Wuesthoff Health System generates approximately $290 million of annual net revenue and is centrally located on Florida’s east coast. Wuesthoff Medical Center—Rockledge and Wuesthoff Medical Center—Melbourne, located less than 40 miles and 20 miles, respectively, from HMA’s Sebastian River Medical Center in Sebastian, will create a network of HMA services for cardiac, neurosurgical and other services, Newsome said.
When the acquisition is completed, HMA and its affiliates will operate 60 hospitals, with approximately 9,000 licensed beds, in non-urban areas throughout the nation.
- Healthcare Leaders Seek Strategic Sweet Spot
- 3 Reasons Wellness Programs Fail
- CMS Issues Health Insurance Exchange Proposed Rules
- Patients Shoulder Nearly 25% of Medical Bills
- ACOs Widespread, Yet Challenged
- MGMA: Physician Compensation Increasingly Based on Quality Measures
- 6 CNO-to-CEO Strategies
- HFMA: Patient Financial Interaction Guidelines Sharpened
- PwC: Pace of Rising Medical Costs Slowing
- HFMA: Revenue Cycle, Reimbursements Share the Spotlight