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CHS Completes HMA Acquisition
Patient concerns about higher costs dog for-profit hospitals. The CBS program "60 Minutes" broadcast a piece on the issue late last year, with HMA arguing that it had not pressured physicians to make admissions decisions. Thomas Bender, H-T staff]. After several months of negotiations and fine-tuning, Franklin, Tenn. Venice Regional Medical Center, which started out in the s as a small hospital built with community pride and door-to-door donations, is being sold.

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The sale is expected to be completed by March of , pending stockholder approval. The for-profit Community Health Systems, based in Tennessee, owns two hospitals in the state.

Its acquisition of HMA will give it a total of facilities in 29 states. The announcement came Tuesday after months of questions and unease at Venice Regional and elsewhere. It also comes as the Southwest Florida health care market grows more fiercely competitive at the outset of the Affordable Care Act -- the most significant health care program since Medicaid launched in This month, Wozniak attempted to deflect physicians' concerns with a letter in which he said he was not privy to the company's plans.

Regardless of what happens, he asserted, "we will continue to grow and strive to meet the community's needs. In , it rebuffed higher offers to sell to Bon Secours, a nonprofit begun by nuns, in keeping with its community focus. When Bon Secours sold the hospital to HMA in , insiders predicted catastrophic changes ahead in health care.

Jay Wolfson, distinguished service professor in public health and medicine at the University of South Florida, has followed the issues in Southwest Florida health care.

Patient concerns about higher costs dog for-profit hospitals. A federal report issued in May allowed consumers for the first time to compare prices on common procedures; among area hospitals, Venice Regional often had the highest prices. Aaron Hummer, 74, said he and his wife, Margaret, have been to the hospital about 20 times since they moved to Venice in He believes the hospital puts too much emphasis on money.

Sarasota Memorial Hospital, a not-for-profit that enjoys a largely positive reputation among patients, has been pushing into Venice to compete for patients.

The board members of both companies have approved the deal, but HMA stockholders and regulators still have to clear it. The company said its revenue from established hospitals is expected to fall due in part to a shift in the payer mix, a reduction in surgeries and rising bad debt.

HMA also said it has received more subpoenas from the U. Department of Health and Human Services and the Office of the Inspector General that supplement subpoenas it received in regarding emergency room operations.

The company also received another subpoena that supplements one received about two years ago regarding physician relationships. Four local doctors establish Venice Hospital. The seed money comes from a local businessman who became upset about driving his ill niece to a hospital in Sarasota.

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CHS Completes HMA Acquisition January 27, | Print | Email After several months of negotiations and fine-tuning, Franklin, Tenn.-based Community Health Systems has closed on its acquisition of Health Management Associates in Naples, Fla. Health Management Associates consult in healthcare policy development, Medicare/Medicaid solutions, and complex business healthcare solutions. Learn more. CHS announced Tuesday it will acquire HMA for $ billion, including the assumption of approximately $ billion of indebtedness. When completed, CHS would own or operate approximately hospitals in 29 states with a total bed count of .