Regulators probe hospital deal

NAPLES — Federal regulators requested more information about Community Health Systems' proposed acquisition of Health Management Associates for any antitrust concerns.

This is the second request by the Federal Trade Commission to satisfy antitrust concerns, says a statement from Tennessee-based CHS. The company has offered to buy Naples-based HMA and its 71 hospitals for $7.6 billion.

“A second request is a standard part of the FTC review process and was anticipated by CHS,” according to a statement from the company. “CHS intends to fully cooperate with the FTC's review and obtain clearance for the transaction as expeditiously as possible.”

In August, Glenview Capital Management led a shareholder revolt that overthrew the board of HMA and it has hired investment bankers to review the deal with CHS agreed to by the previous directors. Glenview owns 14.6% of HMA's shares.

HMA says it expects the review of the deal to be completed by November, in time for shareholder consideration by the end of the year. If it's approved the acquisition would occur in the first quarter.