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Marion County Hospital District Trustees Definitive Agreement Update

Ocala, Fla. (December 20, 2013) – Marion County Hospital District Trustee Chairman Jon Kurtz announced today that he has been notified by Health Management Associates, Inc. (HMA) that HMA has decided to defer approval of the proposed definitive agreement for the long-term lease of Munroe Regional Medical Center to Community Health Systems, Inc. (CHS).

CHS is currently pursuing a merger with HMA, which is expected to be completed in the first quarter of 2014. The proposed Munroe Regional lease agreement is contingent on the successful completion of the CHS/HMA merger, and Chairman Kurtz does not expect that CHS will take formal action on the lease agreement until after the closing of the CHS/HMA merger. 

CHS has communicated to Chairman Kurtz that it remains committed to completing the proposed lease transaction after the close of the CHS/HMA merger, pending Board approval, and that it remains excited about the opportunity to work with the medical staff and employees of Munroe Regional in their service to the community.

Chairman Kurtz also indicated today that the District stands ready to consummate the proposed lease agreement as soon as it receives approval from CHS and all necessary regulatory approvals have been obtained.