Health Management Associates
(HMA), a leading operator of general acute care hospitals, has reportedly completed its previously announced acquisition of Rockledge, Florida-based health care services provider Wuesthoff Health System for roughly $152 million. The company executed a definitive agreement to acquire Wuesthoff in July 2010.
 
Wuesthoff Health System runs two hospitals (Wuesthoff Medical Center-Rockledge and Wuesthoff Medical Center-Melbourne) in Florida, which collectively operate 413 beds. The entity generates roughly $290 million in annual net revenues.
 
With the deal completion, Health Management now operates 60 hospitals and roughly 9,000 licensed beds in non-urban communities. The acquisition offers opportunities for synergies as Wuesthoff’s hospitals complements the company’s Sebastian River Medical Center in Sebastian, Florida. Wuesthoff’s hospitals are located in close proximity to the Sebastian River.  
 
Florida-based Health Management Associates is engaged in the ownership and operation of general acute care hospitals and psychiatric hospitals in non-urban communities across the U.S. The company is an active acquirer of underperforming hospitals with a turnaround potential in high-growth markets.
 
Health Management offers a vast range of services including general surgery, internal medicine, obstetrics, emergency room care, radiology, oncology, diagnostic care, coronary care, pediatric services and psychiatric care. It also provides outpatient services and specialty services in cardiology. Health Management aims to deliver compassionate and high quality health care services to improve the quality of life for patients, physicians and the communities it serves.
 
Health Management remains committed to expanding its business through strategic acquisitions. In July 2010, it acquired a 60% interest in three hospitals of Shands HealthCare (“Shands”), a health care network in north-central Florida, for roughly $21.5 million. The acquisition has enabled the company to improve the quality of care, expand necessary services and broaden access for the residents of the Bradford, Columbia and Suwannee counties in Florida. Health Management continues to evaluate additional acquisition opportunities.

 
HEALTH MGT ASSC (HMA): Free Stock Analysis Report
 
Zacks Investment Research