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Health Management Associates, Inc. Executes Definitive Agreement to Partner with the 132-Bed Tri-Lakes Medical Center, Batesvil

^{Published on 2011-04-20 06:30:55 - Market Wire}
 

NAPLES, Fla.--([ BUSINESS WIRE ])--Health Management Associates, Inc. (NYSE: HMA) today announced that a subsidiary of Health Management has executed a definitive agreement to partner with the current physician owners of the 132-bed Tri-Lakes Medical Center (aTri-Lakesa), located in Batesville, Mississippi. Under the joint venture, Health Management will acquire a controlling interest in Tri-Lakes and manage its operations. The transaction is expected to be completed by June 1, 2011.

"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"

aWe 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,a said Gary D. Newsome, President and Chief Executive Officer of Health Management. aWith 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."

Health Management enables Americaa™s best local health care by providing the people, processes, capital and expertise necessary for its hospital and physician partners to fulfill their local missions of delivering superior health care services. Upon completion of the Tri-Lakes Medical Center acquisition, through its subsidiaries, Health Management will operate 60 hospitals, with approximately 9,000 licensed beds, in non-urban communities located throughout the United States.

All references to aHealth Management,a aHMAa or the aCompanya 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 aexpects,a aestimates,a aprojects,a aanticipates,a abelieves,a acoulda, aprospectsa, apromisinga 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, provision for doubtful accounts, 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 regarding the state of the economy, 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 aforward-looking statements.a

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.a™s most recent Annual Report on Form 10-K and Quarterly Reports on Forms 10-Q under the heading entitled aRisk Factors.a 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.