Health Management acquires assets of Mercy Health Partners

Health Management Associates, Inc. (NYSE:HMA) today announced that a subsidiary of Health Management has completed its acquisition of the assets of Mercy Health Partners, which is a subsidiary of Catholic Health Partners, Inc. As a result, Health Management has acquired or leased all seven of Mercy's hospitals, which include a total of 1,323 licensed beds as well as additional continuum-of-care services that are part of the Knoxville-based East Tennessee health system. The transaction is effective as of October 1, 2011.

Also effective October 1, 2011, the former Mercy System is re-named "Tennova Healthcare." The first part of "Tennova" reflects Mercy's roots in Tennessee. The second part of the name, "nova," is formed from the Latin word "novare," meaning "to make new." The new name represents Health Management's commitment to building a fully integrated, innovative healthcare system in the Knoxville area.

"We are very excited to welcome the newly renamed Tennova Healthcare system into Health Management's family of hospitals," said Gary D. Newsome, President and Chief Executive Officer of Health Management. "These hospitals comprising Tennova Healthcare have a rich history of delivering quality care to the communities they serve. With its strong community support, excellent medical staffs and dedicated associates, we intend to enhance that tradition of high quality health care delivery through innovation and a patient-centered approach."

Source: Health Management Associates, Inc.