Health Management Associates plans to begin selling off some of its hospitals, as well as minority stakes in the company, to reduce its outstanding debt, the company told stock analysts this week. The company, which shared its plans during a conference call held to discuss its 2007 results, said it was likely that HMA would announce some sales during the first half of 2008. Meanwhile, it's probably going to pitch minority interest deals to physicians, which could certainly help foster the tight doctor relationships it's hoping for.
During the conference, HMA announced that it earned $12.5 million during the fourth quarter of 2007, up from a $56.2 million loss during the same quarter in 2006 prompted by a $200 million set-aside for bad debts. For the year, profits were $119.9 million, down from $182.7 million in '06. Revenue grew 8.4 percent to $4.39 billion.
To learn more about HMA's plans:
- read this Modern Healthcare article (reg. req.)
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