HMA Sale Gets Green Light
The Federal Trade Commission announced Wednesday that it will approve the sale of the troubled Naples-based hospital chain Health Management Associates if the buyer divests some of its holdings.
Community Health Systems, which already operates 135 hospitals in 29 states, will let go of two hospitals in Alabama and South Carolina and will stop doing outpatient business that overlaps with existing HMA operations, according to a press release from the company.
The $3.9 billion sale of HMA could be completed by January 2014.
This purchase will dramatically increase the number of CHS hospitals in Florida, from two to 25. But it also comes as the chain is under significant scrutiny. The U.S. Department of Justice is investigating HMA and its former chief executive on charges of Medicare billing fraud and paying kickbacks to doctors.