NAPLES, Fla. (WTVA) -- Community Health Systems, Incorporated announced Tuesday plans to acquire Health Management Associates, the parent company of Gilmore Memorial Regional Medical Center in Amory.
The Tennessee-based company says they will pay $3.9 billion in cash and stocks for HMA and assume nearly $3.7 million in debt.
HMA operates 71 hospitals in 15 states, including 10 in Mississippi.
Once the transaction is complete, CHS will own or operate 206 hospitals in 29 states.
The agreement was unanimously approved by the board of directors for each health care company.
CHS officials expect it to become official during the first quarter of 2014.