Sale of hospital expected 8/2/2013

Published 12:00 am Friday, August 2, 2013

Sale of hospital expected

By John Howell Sr.

Franklin, Tennessee-based Community Health Systems, Inc. (CHS) has announced intention to purchase Health Management Associates, Inc. (HMA) for $7.6 billion.

Tri-Lakes Medical Center in Batesville is one of 10 HMA hospitals in Mississippi. HMA owns 71 hospitals in 15 states, according to its Web site.

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“The transaction is expected to close by the end of the first quarter of 2014 and is subject to approval by a 70 percent vote of HMA’s stockholders, a press release from CHS states. The sale must also comply with anti-trust laws and other regulatory approval.

“At the end of the day we’ve all got our jobs to do here locally,” Tri-Lakes CEO Wes Sigler said, responding to a question during the weekly meeting of the Batesville Rotary Club, “taking care of patients, recruiting physicians … this is really not going to change anything in our local market.”
“From a physician’s standpoint, we don’t expect any changes,” said Dr. Mike Havens. “It shouldn’t affect us as a locally-owned hospital.”

In September, 2009, Tri-Lakes was purchased in U. S. Bankruptcy Court by the physicians syndicate Alliance Health Partners that was formed by Havens, Drs. Raymon Rosenkrans, Billy Haire, Lee Linder, R. C. Purohit, Tom Crowson and by Greg Cantrell.

In April, 2011, HMA acquired a controlling interest in Alliance Health Partners, according to a published announcement. The physicians syndicate continues to hold a minority interest in Tri-Lakes.