Naples-based hospital operator Health Management Associates Inc. has signed a definitive agreement to joint venture five Oklahoma hospitals.
The transaction, which requires regulatory approval, is expected to be completed by March 1.
The Oklahoma hospitals to be joint ventured are: the 53-bed Integris Blackwell Regional Hospital, the 64-bed Integris Clinton Regional Hospital, the 25-bed Integris Marshall County Medical Center, the 52-bed Integris Mayes County Medical Center, and the 32-bed Integris Seminole Medical Center.
Combined, the hospitals have 226 licensed beds and have generated about $95 million over the past year. Under the joint venture agreement, Health Management will own an 80 percent controlling interest in the five hospitals and will manage their operations.
"We will work together with Integris to enhance patient outcomes, improve access and enable America's best local health care in each of these respective hospitals," said Gary D. Newsome, Health Management's president and CEO, in a statement.
With the completion of this transaction, Health Management will operate 71 hospitals, with about 10,700 licensed beds, in non-urban communities throughout the United States. Locally, its hospitals include Physicians Regional–Pine Ridge and Physicians Regional–Collier Boulevard.