Tennessee Group to Acquire Sparks, Summit Parent Company
Nashville, Tenn., based Community Health Systems, Inc. announced plans Tuesday (July 30) to acquire Health Management Associates, the owner of Sparks Regional Medical Center in Fort Smith and Summit Medical Center in Van Buren.
Community Health already owns Northwest Arkansas Medical Center in Bentonville and Springdale.
According to a news release from Community Health, they have entered into an agreement to acquire HMA for approximately $7.6 billion, including the assumption of approximately $3.7 billion of indebtedness.
When completed, CHS would own or operate approximately 206 hospitals in 29 states with a total bed count of over 31,000, the company says.
HMA announced in April plans to bring hundreds of jobs over the next year to Fort Smith with a billing center. The Arkansas Regional Service Center is expected to be opened in the 90,000 square foot building, which currently is home to the Phoenix Expo Trade and Event Center, on Towson Avenue.
The company will be working with 27 hospitals, completing paperwork, billing and other services such as insurance verification. Many of the jobs have been filled.
It is unclear at this time how the new center will be affected by the merger.