NAPLES, Fla.--(BUSINESS WIRE)-- Health Management Associates, Inc. (NYSE: HMA) announced today that it is reaffirming its annual diluted EPS from continuing operations objective range of between $0.74 and $0.78 for fiscal year 2011.
The Florida House and Senate have released their budget for 2011 which includes Medicaid provider rate reductions. We estimate the impact of these rate reductions represents approximately $5 to $7 million of reduced reimbursement for Health Management’s Florida hospitals in 2011.
“We are reaffirming our 2011 annual diluted EPS objective range of between $0.74 and $0.78,” said Gary D. Newsome, Health Management’s President and Chief Executive Officer. “We anticipated Medicaid rate reductions in Florida, and despite these rate reductions, we believe the continued successful implementation of our operations initiatives and disciplined focus on cost control will allow us to achieve our objectives.”
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 60 hospitals, with approximately 9,000 licensed beds, in non-urban communities located throughout the United States.
All references to “HMA,” “Health Management,” the “Company,” “we,” “us” or “our” used in this release refer to Health Management Associates, Inc. and its affiliates.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are subject to risks, uncertainties and assumptions and are identified by words such as “expects,” “estimates,” “projects,” “anticipates,” “believes,” “plans,” “could” and other similar words. All statements addressing operating performance, events or developments that Health Management Associates, Inc. expects or anticipates will occur in the future, including but not limited to projections of revenue, income or loss, capital expenditures, earnings per share, debt structure, bad debt expense, capital structure, repayment of indebtedness, other financial items and operating statistics, statements regarding the plans and objectives of management for future operations, innovations, or market service development, statements regarding acquisitions, joint ventures, divestitures and other proposed or contemplated transactions (including but not limited to statements regarding the potential for future acquisitions and perceived benefits of acquisitions), statements of future economic performance, statements regarding the effects and/or interpretations of recently enacted or future health care laws and regulations, statements of the assumptions underlying or relating to any of the foregoing statements, and other statements which are other than statements of historical fact, are considered to be “forward-looking statements.
Because they are forward-looking, such statements should be evaluated in light of important risk factors and uncertainties. These risk factors and uncertainties are more fully described in Health Management Associates, Inc.’s most recent Annual Report on Form 10-K, under the heading entitled “Risk Factors.” Should one or more of these risks or uncertainties materialize, or should any of Health Management Associates, Inc.'s underlying assumptions prove incorrect, actual results could vary materially from those currently anticipated. In addition, undue reliance should not be placed on Health Management Associates, Inc.'s forward-looking statements. Except as required by law, Health Management Associates, Inc. disclaims any obligation to update or publicly announce any revisions to any of the forward-looking statements contained in this press release.
CONTACT:
Health Management Associates, Inc.
John C. Merriwether, 239-598-3131
Vice President of Financial Relations
KEYWORDS: United States North America Florida
INDUSTRY KEYWORDS: Practice Management Health Hospitals
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