NAPLES, Fla., — Health Management Associates, Inc announced on July 27 that a subsidiary of Health Management has executed a definitive agreement to acquire the 406-bed Wuesthoff Health System (“Wuesthoff”) and its associated ancillary facilities. The transaction is expected to be completed by October 1, 2010.
The Wuesthoff Health System is comprised of two hospitals, the 291-bed Wuesthoff Medical Center-Rockledge, located in Rockledge, Florida and the 115-bed Wuesthoff Medical Center-Melbourne, located in Melbourne, Florida, as well as other successful facilities providing a continuum of care.
“For nearly 70 years, the Wuesthoff Health System has served the healthcare needs of Brevard County and its adjoining communities, and Health Management is pleased to have the opportunity to continue that tradition of service as we seek to enable America’s best local health care,” said Gary D. Newsome, President and Chief Executive Officer of Health Management. “We look forward to the opportunity to work closely with the Wuesthoff physicians and associates to provide them with the processes, capital and expertise necessary to fulfill their local mission of delivering superior health care to the region.”
Wuesthoff Health System generates approximately $290 million of annual net revenue and is centrally located on Florida’s east coast. Wuesthoff Medical Center — Rockledge and Wuesthoff Medical Center — Melbourne, located less than 40 miles and 20 miles, respectively, from Health Management’s Sebastian River Medical Center in Sebastian, Florida, are expected to compliment Sebastian River, creating a network of Health Management clinical synergies for cardiac, neurosurgical and other services.
Health Management enables America’s best local health care by providing the people, processes, capital and expertise necessary for its hospital and physician partners to fulfill their local missions of delivering superior health care services. Upon completion of the Wuesthoff Health System acquisition, through its subsidiaries, Health Management will operate 60 hospitals, with approximately 9,000 licensed beds, in non-urban communities located throughout the United States. All references to “Health Management,” “HMA” or the “Company” used in this release refer to Health Management Associates, Inc. and its affiliates.