FRANKLIN, Tenn.--(BUSINESS WIRE)-- IASIS Healthcare® LLC (“IASIS”) today announced financial and operating results for the fiscal fourth quarter and year ended September 30, 2010.
Net revenue for the fourth quarter totaled $629.9 million, an increase of 1.6%, compared to $620.1 million in the prior year quarter. Adjusted EBITDA for the fourth quarter totaled $62.8 million, compared to $68.1 million in the prior year quarter. Net earnings from continuing operations for the fourth quarter totaled $12.6 million, compared to a net loss from continuing operations of $27.3 million in the prior year quarter, which included a $64.6 million non-cash charge for the impairment of goodwill.
In the fourth quarter, admissions decreased 1.3% and adjusted admissions increased 0.1%, compared to the prior year quarter. Net patient revenue per adjusted admission increased 1.3% in the fourth quarter, compared to the prior year quarter.
Net revenue for the year ended September 30, 2010, totaled $2.5 billion, an increase of 6.8%, compared to $2.4 billion in the prior year. Adjusted EBITDA for the year ended September 30, 2010, totaled $290.8 million, compared to $299.9 million in the prior year. Net earnings from continuing operations for the year ended September 30, 2010, totaled $75.8 million, compared to $38.3 million in the prior year, which includes the impact of the Company’s non-cash charge related to the impairment of its goodwill.
For the year ended September 30, 2010, admissions and adjusted admissions increased 0.7% and 0.6%, respectively, compared to the prior year. Net patient revenue per adjusted admission increased 3.8% for the year ended September 30, 2010, compared to the prior year.
In commenting on results, W. Carl Whitmer, president and chief executive officer of IASIS Healthcare, said, “The effect of industry-wide pressures, including volume softness, payor mix shifts and Medicaid reimbursement cuts, created a challenging 2010 year. Despite these obstacles, our ability to generate significant cash flows, expand in new and existing markets, and maintain a strong financial position highlights the strength of our company. Our new executive management team is now in place, and we are very excited about the future of our company. As we move into 2011, we are committed to executing a strategy that continues to expand our footprint, build an infrastructure that supports growth, provide high-quality patient care and focus on operational excellence.”
A listen-only simulcast and 30-day replay of IASIS’ fourth quarter and year-end conference call will be available by clicking the “For Investors” link on the Company’s Web site at www.iasishealthcare.com beginning at 11:00 a.m. Eastern Time on December 7, 2010. A copy of this press release will also be available on the Company’s Web site.
IASIS, located in Franklin, Tennessee, is a leading owner and operator of medium-sized acute care hospitals in high-growth urban and suburban markets. The Company operates its hospitals with a strong community focus by offering and developing healthcare services targeted to the needs of the markets it serves, promoting strong relationships with physicians and working with local managed care plans. IASIS owns or leases 17 acute care hospital facilities and one behavioral health hospital facility with a total of 3,570 licensed beds and has total annual net revenue of approximately $2.5 billion. These hospital facilities are located in seven regions: Salt Lake City, Utah; Phoenix, Arizona; Tampa-St. Petersburg, Florida; four cities in Texas, including San Antonio; Las Vegas, Nevada; West Monroe, Louisiana; and Woodland Park, Colorado. IASIS also owns and operates a Medicaid and Medicare managed health plan in Phoenix that serves more than 199,000 members. For more information on IASIS, please visit the Company’s Web site at www.iasishealthcare.com.
Some of the statements we make in this press release are forward-looking within the meaning of the federal securities laws, which are intended to be covered by the safe harbors created thereby. Those forward-looking statements include all statements that are not historical statements of fact and those regarding our intent, belief or expectations including, but not limited to, future financial and operating results, the Company’s plans, objectives, expectations and other statements that are not historical facts. Forward-looking statements involve known and unknown risks and uncertainties that may cause actual results in future periods to differ materially from those anticipated in the forward-looking statements. These risk factors and uncertainties are more fully described in the Company’s Annual Report on Form 10-K for the fiscal year ended September 30, 2009 and other filings with the Securities and Exchange Commission.
Although we believe that the assumptions underlying the forward-looking statements contained in this press release are reasonable, any of these assumptions could prove to be inaccurate, and, therefore, there can be no assurance that the forward-looking statements included in this press release will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, you should not regard the inclusion of such information as a representation by the Company or any other person that our objectives and plans will be achieved. We undertake no obligation to publicly release any revisions to any forward-looking statements contained herein to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events.
Adjusted EBITDA represents net earnings from continuing operations before interest expense, income tax expense, depreciation and amortization, impairment of goodwill, stock compensation, gain (loss) on disposal of assets and management fees. Management fees represent monitoring and advisory fees paid to TPG, the Company’s majority financial sponsor, and certain other members of IASIS Investment LLC. Management routinely calculates and communicates adjusted EBITDA and believes that it is useful to investors because it is commonly used as an analytical indicator within the healthcare industry to evaluate hospital performance, allocate resources and measure leverage capacity and debt service ability. In addition, the Company uses adjusted EBITDA as a measure of performance for its business segments and for incentive compensation purposes. Adjusted EBITDA should not be considered as a measure of financial performance under generally accepted accounting principles, and the items excluded from adjusted EBITDA are significant components in understanding and assessing financial performance. Adjusted EBITDA should not be considered in isolation or as an alternative to net earnings, cash flows generated by operating, investing, or financing activities or other financial statement data presented in the consolidated financial statements as an indicator of financial performance or liquidity. Adjusted EBITDA, as presented, differs from what is defined under the Company’s senior secured credit facilities and may not be comparable to similarly titled measures of other companies. A table describing adjusted EBITDA and reconciling net earnings from continuing operations to adjusted EBITDA is included in this press release in the attached Supplemental Consolidated Statements of Operations Information.
|
IASIS HEALTHCARE LLC Consolidated Statements of Operations (Unaudited) (in thousands) |
||||||||||||||||
| Quarter Ended
September 30, |
Year Ended
September 30, |
|||||||||||||||
| 2010 | 2009 | 2010 | 2009 | |||||||||||||
| Net revenue: | ||||||||||||||||
| Acute care revenue | $ | 428,899 | $ | 424,963 | $ | 1,729,344 | $ | 1,662,469 | ||||||||
| Premium revenue | 201,040 | 195,093 | 792,062 | 699,503 | ||||||||||||
| Total net revenue | 629,939 | 620,056 | 2,521,406 | 2,361,972 | ||||||||||||
| Costs and expenses: | ||||||||||||||||
| Salaries and benefits (includes stock compensation of $120, $141, $2,487 and $561, respectively) | 171,615 | 165,534 | 686,303 | 660,921 | ||||||||||||
| Supplies | 66,378 | 63,044 | 266,545 | 250,573 | ||||||||||||
| Medical claims | 167,959 | 170,241 | 678,651 | 592,760 | ||||||||||||
| Other operating expenses | 97,062 | 88,724 | 363,916 | 325,735 | ||||||||||||
| Provision for bad debts | 54,779 | 54,671 | 197,680 | 192,563 | ||||||||||||
| Rentals and leases | 9,468 | 9,906 | 39,955 | 39,127 | ||||||||||||
| Interest expense, net | 16,745 | 16,761 | 66,810 | 67,890 | ||||||||||||
| Depreciation and amortization | 24,197 | 23,953 | 96,106 | 97,462 | ||||||||||||
| Management fees | 1,250 | 1,250 | 5,000 | 5,000 | ||||||||||||
| Impairment of goodwill | – | 64,639 | – | 64,639 | ||||||||||||
| Hurricane-related property damage | – | – | – | 938 | ||||||||||||
| Total costs and expenses | 609,453 | 658,723 | 2,400,966 | 2,297,608 | ||||||||||||
|
Earnings (loss) from continuing operations before gain (loss) on disposal of assets and income taxes
|
20,486 |
(38,667 |
) |
120,440 |
64,364 |
|||||||||||
| Gain (loss) on disposal of assets, net | 314 | (32 | ) | 108 | 1,465 | |||||||||||
| Earnings (loss) from continuing operations
before income taxes |
20,800 | (38,699 | ) | 120,548 | 65,829 | |||||||||||
| Income tax expense (benefit) | 8,171 | (11,399 | ) | 44,715 | 27,576 | |||||||||||
| Net earnings (loss) from continuing operations | 12,629 | (27,300 | ) | 75,833 | 38,253 | |||||||||||
| Earnings (loss) from discontinued operations,
net of income taxes |
(724 | ) | 157 | (1,087 | ) | (176 | ) | |||||||||
| Net earnings (loss) | 11,905 | (27,143 | ) | 74,746 | 38,077 | |||||||||||
| Net earnings attributable to non-controlling interests | (2,216 | ) | (2,747 | ) | (8,279 | ) | (9,987 | ) | ||||||||
| Net earnings (loss) attributable to IASIS Healthcare LLC | $ | 9,689 | $ | (29,890 | ) | $ | 66,467 | $ | 28,090 | |||||||
|
IASIS HEALTHCARE LLC Consolidated Balance Sheets (Unaudited) (in thousands) |
||||||
| Sept. 30,
2010 |
Sept. 30,
2009 |
|||||
| ASSETS | ||||||
| Current assets: | ||||||
| Cash and cash equivalents | $ | 144,511 | $ | 206,528 | ||
| Accounts receivable, net | 209,173 | 230,198 | ||||
| Inventories | 53,842 | 50,492 | ||||
| Deferred income taxes | 15,881 | 39,038 | ||||
| Prepaid expenses and other current assets | 65,340 | 49,453 | ||||
| Total current assets | 488,747 | 575,709 | ||||
| Property and equipment, net | 985,291 | 997,353 | ||||
| Goodwill | 718,243 | 717,920 | ||||
| Other intangible assets, net | 27,000 | 30,000 | ||||
| Deposit for acquisition | 97,891 | – | ||||
| Other assets, net | 36,022 | 36,222 | ||||
| Total assets | $ | 2,353,194 | $ | 2,357,204 | ||
| LIABILITIES AND EQUITY | ||||||
| Current liabilities: | ||||||
| Accounts payable | $ | 78,931 | $ | 68,552 | ||
| Salaries and benefits payable | 38,110 | 42,548 | ||||
| Accrued interest payable | 12,536 | 12,511 | ||||
| Medical claims payable | 111,373 | 113,519 | ||||
| Other accrued expenses and other current liabilities | 106,614 | 65,701 | ||||
| Current portion of long-term debt and capital lease obligations | 6,691 | 8,366 | ||||
| Total current liabilities | 354,255 | 311,197 | ||||
| Long-term debt and capital lease obligations | 1,044,887 | 1,051,471 | ||||
| Deferred income taxes | 109,272 | 106,425 | ||||
| Other long-term liabilities | 60,162 | 54,222 | ||||
| Non-controlling interests with redemption rights | 72,112 | 72,527 | ||||
| Equity: | ||||||
| Member’s equity | 702,135 | 750,932 | ||||
| Non-controlling interests | 10,371 | 10,430 | ||||
| Total equity | 712,506 | 761,362 | ||||
| Total liabilities and equity | $ | 2,353,194 | $ | 2,357,204 | ||
|
IASIS HEALTHCARE LLC Consolidated Statements of Cash Flows (Unaudited) (in thousands) |
||||||||
| Year Ended
September 30, |
||||||||
| 2010 | 2009 | |||||||
| Cash flows from operating activities: | ||||||||
| Net earnings | $ | 74,746 | $ | 38,077 | ||||
| Adjustments to reconcile net earnings to net cash provided by operating activities: | ||||||||
| Depreciation and amortization | 96,106 | 97,462 | ||||||
| Amortization of loan costs | 3,163 | 3,029 | ||||||
| Stock compensation costs | 2,487 | 561 | ||||||
| Deferred income taxes | 30,473 | (5,572 | ) | |||||
| Income tax benefit from stock compensation | (1,770 | ) | – | |||||
| Income tax benefit from parent company interest | 8,554 | 27,344 | ||||||
| Gain on disposal of assets, net | (108 | ) | (1,465 | ) | ||||
| Loss from discontinued operations | 1,087 | 176 | ||||||
| Impairment of goodwill | – | 64,639 | ||||||
| Hurricane-related property damage | – | 938 | ||||||
|
Changes in operating assets and liabilities, net of the effect of acquisitions and dispositions:
|
||||||||
|
Accounts receivable, net |
21,279 |
(7,302 |
) | |||||
| Inventories, prepaid expenses and other current assets | (19,227 | ) | 6,728 | |||||
|
Accounts payable, other accrued expenses and other accrued liabilities |
41,957 | 45,884 | ||||||
| Net cash provided by operating activities – continuing operations | 258,747 | 270,499 | ||||||
| Net cash provided by (used in) operating activities – discontinued operations | (1,508 | ) | 1,472 | |||||
| Net cash provided by operating activities | 257,239 | 271,971 | ||||||
| Cash flows from investing activities: | ||||||||
| Purchases of property and equipment, net | (81,268 | ) | (87,720 | ) | ||||
| Cash paid for acquisitions, net | (98,305 | ) | (1,941 | ) | ||||
| Proceeds from sale of assets | 57 | 5,252 | ||||||
| Change in other assets, net | 3,043 | 1,823 | ||||||
| Net cash used in investing activities – continuing operations | (176,473 | ) | (82,586 | ) | ||||
| Net cash provided by investing activities – discontinued operations | – | 10 | ||||||
| Net cash used in investing activities | (176,473 | ) | (82,576 | ) | ||||
| Cash flows from financing activities: | ||||||||
| Payment of debt and capital lease obligations | (8,378 | ) | (55,476 | ) | ||||
| Distribution to parent company in connection with the repurchase of equity, net | (124,962 | ) | – | |||||
| Distributions to non-controlling interests | (8,984 | ) | (6,750 | ) | ||||
| Costs paid for the repurchase of non-controlling interests, net | (459 | ) | (1,379 | ) | ||||
| Net cash used in financing activities | (142,783 | ) | (63,605 | ) | ||||
| Change in cash and cash equivalents | (62,017 | ) | 125,790 | |||||
| Cash and cash equivalents at beginning of period | 206,528 | 80,738 | ||||||
| Cash and cash equivalents at end of period | $ | 144,511 | $ | 206,528 | ||||
| Supplemental disclosure of cash flow information: | ||||||||
| Cash paid for interest | $ | 63,762 | $ | 66,136 | ||||
| Cash paid for income taxes, net | $ | 13,528 | $ | 4,104 | ||||
|
IASIS HEALTHCARE LLC Segment Information (Unaudited) (in thousands) |
|||||||||||||
| For the Quarter Ended September 30, 2010 | |||||||||||||
| Acute Care | Health Choice | Eliminations | Consolidated | ||||||||||
| Acute care revenue | $ | 428,899 | $ | – | $ | – | $ | 428,899 | |||||
| Premium revenue | – | 201,040 | – | 201,040 | |||||||||
| Revenue between segments | 3,474 | – | (3,474 | ) | – | ||||||||
| Net revenue | 432,373 | 201,040 | (3,474 | ) | 629,939 | ||||||||
| Salaries and benefits (excludes stock compensation) | 166,751 | 4,744 | – | 171,495 | |||||||||
| Supplies | 66,317 | 61 | – | 66,378 | |||||||||
| Medical claims | – | 171,433 | (3,474 | ) | 167,959 | ||||||||
| Other operating expenses | 90,924 | 6,138 | – | 97,062 | |||||||||
| Provision for bad debts | 54,779 | – | – | 54,779 | |||||||||
| Rentals and leases | 9,075 | 393 | – | 9,468 | |||||||||
| Adjusted EBITDA | 44,527 | 18,271 | – | 62,798 | |||||||||
| Interest expense, net | 16,745 | – | – | 16,745 | |||||||||
| Depreciation and amortization | 23,304 | 893 | – | 24,197 | |||||||||
| Stock compensation | 120 | – | – | 120 | |||||||||
| Management fees | 1,250 | – | – | 1,250 | |||||||||
|
Earnings from continuing operations before gain on disposal of assets and income taxes
|
3,108 |
17,378 |
– |
20,486 |
|||||||||
| Gain on disposal of assets, net | 314 | – | – | 314 | |||||||||
|
Earnings from continuing operations before income taxes
|
$ |
3,422 |
$ |
17,378 |
$ |
– |
$ |
20,800 |
|||||
| For the Quarter Ended September 30, 2009 | ||||||||||||||||
| Acute Care | Health Choice | Eliminations | Consolidated | |||||||||||||
| Acute care revenue | $ | 424,963 | $ | – | $ | – | $ | 424,963 | ||||||||
| Premium revenue | – | 195,093 | – | 195,093 | ||||||||||||
| Revenue between segments | 2,765 | – | (2,765 | ) | – | |||||||||||
| Net revenue | 427,728 | 195,093 | (2,765 | ) | 620,056 | |||||||||||
| Salaries and benefits (excludes stock compensation) | 161,118 | 4,275 | – | 165,393 | ||||||||||||
| Supplies | 62,994 | 50 | – | 63,044 | ||||||||||||
| Medical claims | – | 173,006 | (2,765 | ) | 170,241 | |||||||||||
| Other operating expenses | 82,532 | 6,192 | – | 88,724 | ||||||||||||
| Provision for bad debts | 54,671 | – | – | 54,671 | ||||||||||||
| Rentals and leases | 9,525 | 381 | – | 9,906 | ||||||||||||
| Adjusted EBITDA | 56,888 | 11,189 | – | 68,077 | ||||||||||||
| Interest expense, net | 16,761 | – | – | 16,761 | ||||||||||||
| Depreciation and amortization | 23,154 | 799 | – | 23,953 | ||||||||||||
| Impairment of goodwill | 64,639 | – | – | 64,639 | ||||||||||||
| Stock compensation | 141 | – | – | 141 | ||||||||||||
| Management fees | 1,250 | – | – | 1,250 | ||||||||||||
| Earnings (loss) from continuing operations before gain (loss) on disposal of assets and income taxes | (49,057 | ) | 10,390 | – | (38,667 | ) | ||||||||||
| Gain (loss) on disposal of assets, net | 119 | (151 | ) | – | (32 | ) | ||||||||||
|
Earnings (loss) from continuing operations before income taxes
|
$ | (48,938 | ) | $ | 10,239 | $ | – | $ | (38,699 | ) | ||||||
|
IASIS HEALTHCARE LLC Segment Information (Unaudited) (in thousands) |
|||||||||||||
| For the Year Ended September 30, 2010 | |||||||||||||
| Acute Care | Health Choice | Eliminations | Consolidated | ||||||||||
| Acute care revenue | $ | 1,729,344 | $ | – | $ | – | $ | 1,729,344 | |||||
| Premium revenue | – | 792,062 | – | 792,062 | |||||||||
| Revenue between segments | 11,805 | – | (11,805 | ) | – | ||||||||
| Net revenue | 1,741,149 | 792,062 | (11,805 | ) | 2,521,406 | ||||||||
| Salaries and benefits (excludes stock compensation) | 664,667 | 19,149 | – | 683,816 | |||||||||
| Supplies | 266,347 | 198 | – | 266,545 | |||||||||
| Medical claims | – | 690,456 | (11,805 | ) | 678,651 | ||||||||
| Other operating expenses | 339,304 | 24,612 | – | 363,916 | |||||||||
| Provision for bad debts | 197,680 | – | – | 197,680 | |||||||||
| Rentals and leases | 38,409 | 1,546 | – | 39,955 | |||||||||
| Adjusted EBITDA | 234,742 | 56,101 | – | 290,843 | |||||||||
| Interest expense, net | 66,810 | – | – | 66,810 | |||||||||
| Depreciation and amortization | 92,544 | 3,562 | – | 96,106 | |||||||||
| Stock compensation | 2,487 | – | – | 2,487 | |||||||||
| Management fees | 5,000 | – | – | 5,000 | |||||||||
| Earnings from continuing operations before gain on disposal of assets and income taxes | 67,901 | 52,539 | – | 120,440 | |||||||||
| Gain on disposal of assets, net | 108 | – | – | 108 | |||||||||
|
Earnings from continuing operations before income taxes
|
$ | 68,009 | $ | 52,539 | $ | – | $ | 120,548 | |||||
| For the Year Ended September 30, 2009 | ||||||||||||||
| Acute Care | Health Choice | Eliminations | Consolidated | |||||||||||
| Acute care revenue | $ | 1,662,469 | $ | – | $ | – | $ | 1,662,469 | ||||||
| Premium revenue | – | 699,503 | – | 699,503 | ||||||||||
| Revenue between segments | 9,316 | – | (9,316 | ) | – | |||||||||
| Net revenue | 1,671,785 | 699,503 | (9,316 | ) | 2,361,972 | |||||||||
| Salaries and benefits (excludes stock compensation) | 641,332 | 19,028 | – | 660,360 | ||||||||||
| Supplies | 250,310 | 263 | – | 250,573 | ||||||||||
| Medical claims | – | 602,076 | (9,316 | ) | 592,760 | |||||||||
| Other operating expenses | 302,804 | 22,931 | – | 325,735 | ||||||||||
| Provision for bad debts | 192,563 | – | – | 192,563 | ||||||||||
| Rentals and leases | 37,563 | 1,564 | – | 39,127 | ||||||||||
| Hurricane–related property damage | 938 | – | – | 938 | ||||||||||
| Adjusted EBITDA | 246,275 | 53,641 | – | 299,916 | ||||||||||
| Interest expense, net | 67,890 | – | – | 67,890 | ||||||||||
| Depreciation and amortization | 94,014 | 3,448 | – | 97,462 | ||||||||||
| Impairment of goodwill | 64,639 | – | – | 64,639 | ||||||||||
| Stock compensation | 561 | – | – | 561 | ||||||||||
| Management fees | 5,000 | – | – | 5,000 | ||||||||||
| Earnings before gain (loss) on disposal of assets and income taxes | 14,171 | 50,193 | – | 64,364 | ||||||||||
| Gain (loss) on disposal of assets, net | 1,616 | (151 | ) | – | 1,465 | |||||||||
|
Earnings from continuing operations before income taxes
|
$ | 15,787 | $ | 50,042 | $ | – | $ | 65,829 | ||||||
|
IASIS HEALTHCARE LLC Consolidated Financial and Operating Data (Unaudited) |
||||||||
| Quarter Ended
September 30, |
Year Ended
September 30, |
|||||||
| 2010 | 2009 | 2010 | 2009 | |||||
| Consolidated Hospital Facilities | ||||||||
| Number of acute care hospital facilities at end of period | 15 | 15 | 15 | 15 | ||||
| Licensed beds at end of period | 3,185 | 3,162 | 3,185 | 3,162 | ||||
| Average length of stay (days) | 4.8 | 4.7 | 4.8 | 4.7 | ||||
| Occupancy rates (average beds in service) | 45.3% | 44.8% | 46.6% | 46.5% | ||||
| Admissions | 25,119 | 25,455 | 101,798 | 101,083 | ||||
| Percentage change | (1.3%) | 0.7% | ||||||
| Adjusted admissions | 43,158 | 43,106 | 170,812 | 169,721 | ||||
| Percentage change | 0.1% | 0.6% | ||||||
| Patient days | 119,872 | 119,269 | 489,274 | 473,601 | ||||
| Adjusted patient days | 197,680 | 192,935 | 790,958 | 762,234 | ||||
| Outpatient revenue as a % of gross patient revenue | 40.8% | 39.7% | 39.6% | 39.0% | ||||
|
IASIS HEALTHCARE LLC Supplemental Consolidated Statements of Operations Information (Unaudited) (in thousands) |
||||||||||||||||
| Quarter Ended
September 30, |
Year Ended
September 30, |
|||||||||||||||
| 2010 | 2009 | 2010 | 2009 | |||||||||||||
| Consolidated Results | ||||||||||||||||
| Net earnings (loss) from continuing operations | $ | 12,629 | $ | (27,300 | ) | $ | 75,833 | $ | 38,253 | |||||||
| Add: | ||||||||||||||||
| Interest expense, net | 16,745 | 16,761 | 66,810 | 67,890 | ||||||||||||
| Income tax expense (benefit) | 8,171 | (11,399 | ) | 44,715 | 27,576 | |||||||||||
| Depreciation and amortization | 24,197 | 23,953 | 96,106 | 97,462 | ||||||||||||
| Impairment of goodwill | – | 64,639 | – | 64,639 | ||||||||||||
| Stock compensation | 120 | 141 | 2,487 | 561 | ||||||||||||
| Loss (gain) on disposal of assets, net | (314 | ) | 32 | (108 | ) | (1,465 | ) | |||||||||
| Management fees | 1,250 | 1,250 | 5,000 | 5,000 | ||||||||||||
| Adjusted EBITDA | $ | 62,798 | $ | 68,077 | $ | 290,843 | $ | 299,916 | ||||||||
CONTACT:
IASIS Healthcare LLC
Investor Contact:
W. Carl Whitmer, 615-844-2747
President and Chief Executive Officer
or
John M. Doyle, 615-844-2747
Chief Financial Officer
or
Media Contact:
Michele M. Peden, 615-467-1255
VP, Corporate Communications
KEYWORDS: United States North America Tennessee
INDUSTRY KEYWORDS: Health Hospitals
MEDIA:
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