Florida Firm Signs Deal To Buy Sparks Health
by November 16, 2009 12:00 am 63 views
Health Management Associates Inc. of Naples, Fla., announced in early November that it had signed an agreement to acquire Sparks Health System of Fort Smith. The deal is expected to be completed by the end of this year.
Sparks trustees had announced in August a letter of intent to sell the 492-bed health system to HMA, with plans to close the deal in the fourth quarter.
In March, Sparks had announced plans to be acquired by a division of Jackson Healthcare LLC of Alpharetta, Ga. That deal, however, was called off in June.
“We are very happy that we’ve been able to reach this agreement with HMA,” Judy Boreham, Sparks board chairman, said in a news release. “This is the culmination of a lot of hard work and focus from a great group of dedicated people.”
Frederick Woodrell, CEO of Sparks Health System, echoed Boreham’s comments.
“One important point for everyone is to know that this is, without a doubt, a great thing for Sparks and the Fort Smith region,” he said.
Once it acquires Sparks, HMA said, it will own and operate 55 hospitals, with about 8,400 licensed beds, in communities throughout the United States.
The Arkansas Trauma Advisory Council in August approved Sparks as a Level 2 hospital in the state’s new trauma system.