NAPLES, Fla., July 19 /PRNewswire-FirstCall/ -- Health Management Associates, Inc. announced today it has executed a definitive agreement to acquire the 82-bed Chester County Hospital, located in Chester, South Carolina. The transaction is expected to close during HMA’s fourth quarter ending September 30, 2004.
“Chester County Hospital has been serving the residents of Chester County, South Carolina for 52 years, and HMA is honored and proud to have been chosen to continue providing excellent health care close to home for this community,” said Joseph V. Vumbacco, President and Chief Executive Officer of Health Management Associates. “In October 2003, HMA established an objective to acquire a minimum of five hospitals during fiscal year 2004. With the completion of the Chester County Hospital acquisition, HMA will have exceeded its stated objective for the year.”
Chester County Hospital is the primary hospital provider in Chester County, South Carolina, a growing, non-urban area of north-central South Carolina, that is home to 35,000 residents. The town of Chester, South Carolina 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 52 hospitals in 16 states with 7,562 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.
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CONTACT: John C. Merriwether, Vice President of Financial Relations,Health Management Associates, Inc., +1-239-598-3104
Web site: http://www.hma-corp.com/