Health Management Stockholders Ok Proposed Acquisition By Community Health

(RTTNews) - Community Health Systems Inc. (CYH) or CHS and Health Management Associates, Inc. (HMA) announced that HMA stockholders voted to adopt the previously announced merger agreement under which CHS has agreed to acquire HMA.

HMA stockholders approved the transaction with about 98.7 percent of the votes cast at today's special meeting voting in favor of adoption of the merger agreement, representing about 81.7 percent of HMA's outstanding common shares as of November 22, 2013, the record date for the special meeting.

The transaction is expected to be completed prior to the end of January 2014 and is subject to customary closing conditions, the receipt of regulatory approvals and the absence of certain adverse developments.

Health Management agreed on July 30 to be acquired by Community Health Systems in a cash and stock deal valued at about $7.6 billion, including the assumption of about $3.7 billion of indebtedness.