No Penalty For HMA's Backout In $75M Deal, 11th Circ. Says

Law360, New York (January 24, 2013, 5:34 PM EST) -- The Eleventh Circuit refused Thursday to revive a suit against Health Management Associates Inc. for backing out of a $75 million hospital asset purchase deal, ruling HMA wasn’t obliged to compensate the hospital for the lower offer it later accepted.

In a published decision, the three-judge panel ruled U.S. District Judge J. Randall Hall had correctly found that hospital chain owner HMA never signed a binding agreement with St. Joseph Hospital in Augusta, Ga,. to purchase the hospital’s assets, and thus didn’t owe SJH the difference...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.