HMA Takes Controlling Interest in Physician-owned MS Hospital

Health Management Associates, Inc.has entered into a joint venture partnership with the physician-owners of the 132-bed Tri-Lakes Medical Center in Batesville, MS, under which HMA will have a controlling interest and manage operations.

The deal, announced this week, is expected to be finalized by June 1. Financial terms were not disclosed.

When the deal is finalized, HMA will operate 60 hospitals, with approximately 9,000 licensed beds, in non-urban communities in 15 states.

"We are very pleased to have the opportunity to partner with the medical staff at Tri-Lakes Medical Center in serving the Batesville community, while broadening our Mississippi network of hospitals," Gary D. Newsome, president/CEO of Naples, FL-based HMA, said in a statement. "With our existing whole-hospital joint venture experience, our current presence in Mississippi and our operational expertise in managing non-urban medical centers, we believe we are uniquely situated to offer the processes, capital and expertise necessary to fulfill Tri-Lakes mission of delivering superior health care to the residents of Batesville and the greater Panola County area."