NAPLES, Fla.—Health Management Associates Inc. (NYSE:HMA) today announced that it has executed a letter of intent, under which it would enter into a long-term lease with Munroe Regional Medical Center and bring Munroe Regional into Health Management’s clinical affiliation with University of Florida Health Shands Hospital.

The letter of intent marks the beginning of the due diligence process between Munroe Regional, Health Management and UF Health Shands Hospital toward a definitive agreement. The three parties expect to execute the definitive agreement by the fourth quarter of 2013, and to complete the new partnership before the end of the year. During this time, the parties will seek all necessary state and local government regulatory approvals.

“We are pleased to be moving this partnership between Munroe Regional, Health Management and UF Health Shands Hospital forward as we focus our efforts toward the growth of Munroe Regional, its medical staff and Marion County and surrounding communities,” said Alan Levine, Senior Vice President and Florida Group President for Health Management Associates. “Our partnership will invest in, and build upon, the success and reputation for great care that Munroe Regional’s physicians, nurses and other caregivers already provide. By combining the talents of Munroe Regional, the resources of Health Management and the academic strength of UF Health Shands Hospital, the partnership will provide the region the best opportunity to strengthen and improve the health of the community for years to come.”

Health Management and its statewide clinical partner, UF Health Shands Hospital, will well position Munroe Regional as it continues to invest in clinical integration. UF Health Shands Hospital and Munroe Regional will develop a clinical affiliation committee composed of physicians to help guide research and clinical relationships that benefit patients, Marion County and surrounding communities.

“We’ve had a longstanding relationship with Munroe Regional and are excited about the opportunity to strengthen that relationship in partnership with Health Management,” said Timothy Goldfarb, CEO of Shands HealthCare.

Under the lease agreement, Health Management will keep Munroe Regional’s existing charity care policy, and the hospital will operate under the guidance of a local Board of Trustees consisting of physicians and local community leaders who share a passion for high quality care and service. Further, Munroe Regional will begin paying annual property taxes, and generating funds to support law enforcement, schools and other local community needs.

“After a very thorough review process, we are proud to be moving forward with Health Management and UF Health Shands Hospital – two Florida organizations with excellent track records of service to the communities they operate in,” said Jon Kurtz, Chairman of the Marion County Hospital District Board. “UF Health’s academic leadership in Florida, combined with Health Management’s footprint and experience operating hospitals in Florida’s unique environment are coming together with Munroe Regional’s legacy of service to create a transformational opportunity for Marion County.”

About Munroe Regional Medical Center

Munroe Regional Medical Center is located in Ocala, Florida. Munroe Regional has been serving the residents of Marion County and surrounding communities for 115-years. The medical center has 421 licensed beds, 2,600 associates, 450 physicians and 1,700 volunteers. Munroe Regional admits over 21,000 patients each year, treats over 101,000 in three emergency departments, and sees another 51,000 for other outpatient needs. Munroe Regional’s mission is to improve the health of our community by delivering compassionate, innovative care through exceptional people doing extraordinary works. Munroe Regional is located at 1500 SW 1st Ave, Ocala, Florida. Website address is www.MunroeRegional.com. Main telephone number is (352) 351-7200.

About Health Management Associates

Health Management enables America's best local health care by providing the people, processes, capital and expertise necessary for its hospital and physician partners to fulfill their local missions of delivering superior health care services. Health Management, through its subsidiaries, operates 71 hospitals with approximately 11,100 licensed beds in non-urban communities located throughout the United States.