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Health Management Associates, Inc. Completes Transaction to Partner with The 112-Bed Tri-Lakes Medical Center, Batesville, Miss

^{Published on 2011-05-03 03:40:48 - Market Wire}
 

NAPLES, Fla.--([ BUSINESS WIRE ])--Health Management Associates, Inc. (NYSE: HMA) today announced that a subsidiary of Health Management has completed the transaction to partner with the current physician owners of the 112-bed Tri-Lakes Medical Center (aTri-Lakesa), located in Batesville, Mississippi. Under the joint venture, Health Management will own a 95% controlling interest in Tri-Lakes and manage its operations. The transaction is effective May 1, 2011.

"We are very excited to welcome Tri-Lakes Medical Center into the Health Management family of hospitals"

aWe are very excited to welcome Tri-Lakes Medical Center into the Health Management family of hospitals,a said Gary D. Newsome, President and Chief Executive Officer of Health Management. aHealth Managementa™s expertise is in operating non-urban community hospitals where we can enable Americaa™s best local health care. We believe Tri-Lakes offers us the opportunity to apply our proven operating initiatives in the emergency room, physician recruitment and market service development to improve efficiency, quality and access to care, and we are eager to begin serving the residents of Batesville and the greater Panola County region.a

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. Health Management, through its subsidiaries, operates 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 aplansa, acoulda 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 and operating statistics, statements regarding the plans and objectives of management for future operations, innovations, or market service development, statements regarding acquisitions, joint ventures, divestitures and other proposed or contemplated transactions (including but not limited to statements regarding the potential for future acquisitions and perceived benefits of acquisitions), statements of future economic performance, statements regarding the effects and/or interpretations of recently enacted or future health care laws and regulations, 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.

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, 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.