Hospital operator Community Health Systems Inc has won approval to purchase Health Management Associates Inc on the condition that it sell hospitals in Alabama and South Carolina, the U.S. Federal Trade Commission said on Wednesday.The deal was valued at $3.9 billion when it was announced by the companies in July. The FTC, which includes debt in its calculations, put the value at $7.6 billion.Community Health Systems, the second-largest for-profit U.S. hospital operator, said in July that it would buy Florida-based Health Management, a smaller rival, to strengthen its base of operations as the U.S. healthcare system is overhauled under President Barack Obama's Affordable Care Act.Both chains operate hospitals primarily in smaller cities and rural areas. Health Management has a strong focus in the U.S. southeast, including Florida.
Community Health Systems, Inc., is an operator of hospitals in the United States. Shares of CYH traded higher by 0.05% or $0.02/share to $39.43. In the past year, the shares have traded as low as $36.52 and as high as $51.29. On average, 1604320 shares of CYH exchange hands on a given day and today's volume is recorded at 1364780.
Health Management Associates, Inc. by and through its subsidiaries operates general acute care hospitals and other health care facilities in non-urban communities. Shares of HMA traded higher by 0.08% or $0.01/share to $13.25. In the past year, the shares have traded as low as $9.79 and as high as $17.28. On average, 4285010 shares of HMA exchange hands on a given day and today's volume is recorded at 3090381.
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