Catholic Health Partners to sell Tenn. hospitals for $525M

Health Management Associates will acquire the East Tennessee hospitals of Catholic Health Partners for $525 million.

Cincinnati-based Catholic Health Partners, which also operates Mercy Health Partners in Cincinnati, and Naples, Fla.-based Health Management Associates plan to close the deal by Oct. 1.

The seven-hospital, Knoxville-based network, also known as Mercy Health Partners, generates net revenue of $600 million per year.

?Through Health Management, our hospitals will be able to invest in their facilities and new technologies, and provide the training needed to ensure Mercy continues to provide the best, most current care available in our communities,? Jeffrey Ashin, CEO of Mercy Health Partners in East Tennessee, said in a news...

Source: http://feeds.bizjournals.com/~r/bizj_cincinnati/~3/lq-PUFN2og4/catholic-health-partners-to-sell-tenn.html

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