HMA acquiring controlling interest in Tri-Lakes

BATESVILLE — A subsidiary of Naples, Fla.-based Health Management Associates Inc. has executed a definitive agreement to partner with the current physician-owners of the 132-bed Tri-Lakes Medical Center located in Batesville Under the joint venture, Health Management will acquire a controlling interest in Tri-Lakes and manage its operations.

The cost of the transaction was not disclosed. It 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,” said Gary D. Newsome, president and CEO of Health Management. “With 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.”

Source: Health Management Associates Inc.