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
