HMA will acquire all Wuesthoff’s assets and operations. A foundation will be formed to pay the outstanding liabilities from the $145 million Wuesthoff receives from the sale, according to the report. The debts include the hospital’s corporation pension fund and around $75 million in bond debt from the construction and expansion of Wuesthoff’s Melbourne Hospital.
Health Management will take over Oct. 1, pending state and federal approval.
HMA plans to keep Wuesthoff’s 2,600 staff members but is in discussions with top executives about whether they will stay on following the acquisition.
Read the Florida Today report on Wuesthoff Health System.
Read more on hospital mergers and acquisitions:
–Northern Michigan Regional Ends Merger Talks With Spectrum
–Ohio’s Holzer Health Systems to Merge With Holzer Clinic
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