Health Management Associates, Inc. Announces Fiscal Year 2005 Objectives

NAPLES, Fla., Oct. 26 /PRNewswire-FirstCall/ -- Health Management Associates, Inc. announced today its fiscal year 2005 objectives.

“HMA is known for the quality and consistency of its earnings, and in keeping with our practice of fair disclosure, I am pleased to announce our objectives for fiscal year 2005,” stated Joseph V. Vumbacco, President and Chief Executive Officer of HMA. “Today, in compliance with Regulation FD, and to ensure appropriate and accurate coverage by the financial markets, we are disclosing our objectives for fiscal year 2005. Updates to these objectives will be published if material changes occur.”

FISCAL 2005 OBJECTIVES: AVERAGE HOSPITAL QSM SCORE: 90% or better JOINT COMMISSION ACCREDITATION: Full accreditation at all hospitals REVENUES (in millions): $3,550 to $3,700 EBITDA (in millions): $790 - $805 EPS (diluted): $1.48 - $1.52 SAME HOSPITAL ADMISSIONS GROWTH: 2% to 4% SAME HOSPITAL SURGERIES GROWTH: 1% to 3% SAME HOSPITAL REVENUE GROWTH: 5% to 8% CAPITAL EXPENDITURES (in millions): $220 to $240 DAYS SALES OUTSTANDING: 65 to 73 days ACQUISITION OBJECTIVES: 4 to 6 acquisitions DEPRECIATION & AMORTIZATION (in millions): $160 - $170 INTEREST EXPENSE (in millions): $22 - $24

HMA is the premier operator of non-urban general acute care hospitals in communities situated throughout the United States. HMA has generated 16 years of uninterrupted operating earnings growth and upon completing the exchange of 76-bed Williamson Memorial Hospital for 56-Bed Bartow Memorial Hospital, will operate 53 hospitals in 15 states with approximately 7,526 licensed beds.

All references to “HMA” used in this release refer to Health Management Associates, Inc. or its affiliates.

Certain statements contained in this release, including, without limitation, statements containing the words “objectives,” “believes,” “anticipates,” “intends,” “expects,” and words of similar import, constitute “forward looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may include projections of revenues, income or loss, capital expenditures, capital structure, or other financial items, statements regarding the plans and objectives of management for future operations, statements of future economic performance, statements of the assumptions underlying or relating to any of the foregoing statements, and other statements which are other than statements of historical fact.

Statements made throughout this release are based on current estimates of future events, and the Company has no obligation to update or correct these estimates. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially as a result of these various factors.

Photo: http://www.newscom.com/cgi-bin/prnh/20030418/HMALOGOHealth Management Associates, Inc.

CONTACT: John C. Merriwether, Vice President of Financial Relations ofHealth Management Associates, Inc., +1-239-598-3104