NAPLES, Fla., Oct. 4 /PRNewswire-FirstCall/ -- Health Management Associates, Inc. announced today it has completed the acquisition of Chester County Hospital, an 82-bed hospital located in Chester, South Carolina. The transaction is effective as of October 1, 2004 and marks the first acquisition completed by HMA in Fiscal Year 2005.
"We are very pleased to welcome the Chester County Hospital to HMA's family of hospitals," said Joseph V. Vumbacco, HMA's President and Chief Executive Officer. "It is HMA's intention to continue the 52-year tradition of delivering local health care to the Chester County area. HMA's Pulse System(TM) has been installed and is operational. We are eager to begin the delivery of high quality health care close to home for the residents of this fine community."
Chester County Hospital is the primary hospital provider in Chester County, South Carolina, a growing, non-urban area located in north-central South Carolina, that is home to 35,000 residents. The town of Chester is the county seat and is located approximately 60 miles south of Charlotte, North Carolina, and 60 miles north of Columbia, South Carolina.
HMA is the premier operator of non-urban general acute care hospitals in communities situated throughout the United States. HMA has generated 15 years of uninterrupted operating earnings growth and operates 53 hospitals in 16 states with 7,644 licensed beds.
Certain statements contained in this release, including, without limitation, statements containing the words "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.
Health Management Associates, Inc.CONTACT: John C. Merriwether, Vice President of Financial Relations ofHealth Management Associates, Inc., +1-239-598-3104