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HMA Signs Letter of Intent to Lease Munroe Regional Medical Center

Naples, Fla.-based Health Management Associates has signed a letter of intent to lease Munroe Regional Medical Center, a 421-bed public hospital in Ocala, Fla.


Terms of the 40-year lease agreement would require for-profit Health Management to continue Munroe's current charity care policy, pay property taxes, invest $200 million in capital improvements and manage the hospital under oversight of a local board of trustees. Shands Healthcare, a Gainesville-based clinical partner of Health Management, will acquire up to 20 percent of the hospital.


Leaders of the two organizations expect a definitive agreement to be signed by the fourth quarter of this year, pending regulatory approval. Financial details were not disclosed.


Health Management beat out Brentwood, Tenn.-based Duke LifePoint Healthcare in securing the lease with Munroe in April.


More Articles on Hospital Transactions:

Truven: Nonprofit Church-Owned Hospitals Have Best Overall Performance

Is HMA Nearing a Takeover?

Closing Pension Plan Could Cost Munroe Regional Medical Center $20M

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