Corporate Report: Health Management Associates to buy Sparks Health System

Naples-based Health Management Associates Inc. signed a definitive agreement that is expected to close at the end of this month to acquire the 492-bed Sparks Health System in Fort Smith, Ark.

Gary Newsome, HMA's president and CEO, said in a press release, the deal “offers us additional strategic opportunities to better serve this market and is consistent with our intention to pursue acquisition opportunities that will generate a positive strategic impact that complements existing operations.”

Once the acquisition is completed, HMA will own and operate 55 hospitals with approximately 8,400 licensed beds throughout the United States.

Feds approve investor cash forCommunity Bank of Manatee
An investor group led by Marcelo Lima and Trevor Burgess has received Federal Reserve Board regulatory approval to invest $15 million in new equity capital in Bradenton's Community Bank of Manatee.

The Florida Office of Financial Regulation already approved the transaction, which is expected to close by mid-November.

“By bringing new investors and existing investors together we have recapitalized and are poised to make new residential and commercial loans and to welcome new depositors,” bank chairman and CEO William H. Sedgeman Jr., said in a press release.

Community Bank of Manatee operates five branches in Manatee and Hillsborough counties.

Bank of Florida Trust president promoted to CEO
Scott Kellett, president of Bank of Florida Trust Co., has been promoted and now also serves as CEO of the wealth management company.

Kellett joined the company in 2005 as president of the West Coast division. Two years later, he was named overall president, with his responsibilities expanded to include East Coast operations.

Also, the company has asked Craig Sherman to take a senior role in the special assets division.

Founded in 2000, Bank of Florida Trust Co. has offices in Naples and Fort Myers and more than $734.5 million in assets under administration. It is owned by Bank of Florida Corp.

Superior Uniform Group buys Blade Sportswear Inc.
Superior Uniform Group has purchased Blade Sportswear Inc., a Macon, Ga.-based designer, maker and distributor of uniforms to restaurant and foodservice chains throughout the country, with revenues for the first nine months of 2009 of $4.8 million.

Michael Benstock, CEO of Superior Uniform Group, said in a press release, “Blade's strong reputation and history positions [us] to continue to deliver substantial long-term value to our customers and shareholders.”

The deal is expected to add to Superior Uniform Group's revenue starting next year.

Also, the company's board of directors approved a quarterly dividend of 13.5 cents per share payable on Nov. 30 to shareholders of record as of Nov. 18. For 2009, the company's dividend payments will total 54 cents per share.

The company, based in Seminole, makes uniforms and image apparel.

Teltronics, REACT partner on mass notification products
Palmetto communications company Teltronics Inc. has agreed to sell emergency notification products made by Loomis, Calif.-based REACT Systems Inc., plus integrate them into its Cerato Fire & Security service.

The REACT computer desktop pop-up and dedicated display audio/visual notification system can be launched from computers and phones, plus automatically via security systems.

“The REACT component complements the Teltronics Mass Notification Solution and continues to meet our goal to apprise a large constituency of time-sensitive information as quickly as possible,” Ewen Cameron, Teltronics CEO, said in a press release.

Teltronics designs, develops and manufactures electronic equipment and application software systems for communications networks.

Sarasota Bradenton Airport Holiday Inn opens
The Holiday Inn Sarasota Bradenton Airport, with 135 beds and the first green-certified lodging facility in the area, has opened adjacent to the Sarasota Bradenton International Airport and the Sarasota Bradenton Convention Center.

The hotel features a SportingNews Grill restaurant plus room configurations that include kids' suites with separate bedrooms for children with bunk beds and video game systems.

Celebrity caterer to lead Mad Cuisine
Swanky Lifestyle in Fort Myers has added one of New York's top caterers, Andrea Correale, as managing partner for Mad Cuisine (formerly Mad Take Out).

Correale was owner and operator of Elegant Affairs, a New York-based catering and event design firm, which included Donald Trump, Brooke Shields, Gwyneth Paltrow and Hillary Clinton as clients. Her work has been covered by such national media as VH1's “The Fabulous Life,” Sirius' Martha Stewart Living Radio station and Bravo's “Real Housewives of New York City.”

“Andrea's energy and sophistication made its mark on the New York social scene, and now her impeccable sense of style, exquisite culinary ingenuity and dazzling presentations are available in Southwest Florida,” says Mel Starrantino, owner of Swanky Lifestyle.

Correale plans to expand Mad Cuisine's current offering of take-out foods and will focus on high-end catering and full-service event planning.

Swanky Lifestyle is the parent company of Mad Cuisine and Bacchus, an upscale restaurant and wine bar located in the Bell Tower Shops.