Company completes acquisition of Natchez Community Hospital’s parent company
Published 11:10 am Monday, January 27, 2014
NATCHEZ — The acquisition of Natchez Community Hospital’s parent company — Health Management Associates — was completed today.
The acquisition is not expected to impact the hospital.
Community Health Systems Inc. announced today it completed the previously announced acquisition of HMA that shareholders overwhelmingly voted to approve earlier this month.
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“We are very pleased to complete this important strategic acquisition and welcome our newly affiliated hospitals and their physicians and employees to our organization,” said Wayne T. Smith, chairman and chief executive officer of Community Health Systems Inc., in a press release. “This transaction provides us with increased scale and broader geographic reach as we work to create strong health care networks across the nation.”
Effective today, HMA will cease trading on the New York Stock Exchange.
HMA shareholders will receive $10.50 per share in cash plus 0.06942 shares of CHS common stock for each HMA share they own.
HMA shareholders will also receive one Contingent Value Right (CVR) for each HMA share they own, which could yield additional cash consideration of up to $1 per share, depending on the outcome of certain matters described in HMA’s public filings under the “Legal Proceedings” section.
Through its affiliates, CHS now owns, leases or operates 206 hospitals in 29 states.
The organization’s affiliates employ more than 135,000 people, and approximately 27,000 physicians serve on the medical staffs of CHS-affiliated hospitals.
CHS operates River Region Health System in Vicksburg and Wesley Medical Center in Hattiesburg.
CHS’s headquarters will remain in Nashville.