By executing definitive agreements, HMA will hold a controlling interest in Shands Lake Shore in Lake City, Fla., Shands Live Oak (Fla.) and Shands Starke (Fla.).
After the transaction, which is to be completed by July 1, Shands will retain 40 percent ownership of the hospitals.
The three hospitals operate 139 beds and generate approximately $100 million of annual net revenue.
Read more about the HMA Shands acquisition.
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