Health Management Associates, Inc. Executes Definitive Agreement to Acquire Carlisle Hospital Carlisle, Pennsylvania A 200-Bed Acute Care Hospital
Apr 24, 2001, 01:00 ET from Health Management Associates, Inc.
NAPLES, Fla., April 24 /PRNewswire Interactive News Release/ -- Health Management Associates, Inc. (NYSE: HMA) announced today the execution of a Definitive Agreement to acquire Carlisle Hospital, a 200-bed acute care hospital located in Carlisle, Pennsylvania. This is the third hospital acquisition of fiscal 2001, and HMA expects this transaction will become effective in June 2001. "The Carlisle Hospital is a sole community provider that has an excellent reputation, and we are very excited about the opportunity to expand services in South Middletown Township and Cumberland County," said Joseph V. Vumbacco, CEO of Health Management Associates. "We will move forward with plans to replace the existing hospital, and continue to enhance the quality of care for our patients. Carlisle Hospital now joins our two Lancaster County hospitals in providing high quality medical services to non-urban areas in Pennsylvania with a proven demographic need." "We will continue to focus our efforts on non-urban acquisitions where we can implement our proven and successful operating strategy," added Vumbacco. "Improving the quality of healthcare, investing the necessary capital, and recruiting top quality physicians in needed specialties will continue to earn us the reputation as the acquirer of choice." HMA, the largest non-urban and third largest hospital company in the United States, is a major operator of general acute care hospitals in communities situated primarily in the Southeast and Southwest. The Company, upon the closing of this transaction and the previously announced transaction to acquire the Lee County Community Hospital, will operate 38 facilities in 12 states with 5,304 licensed beds. HMA has experienced 12 years of uninterrupted operating earnings growth. 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. MAKE YOUR OPINION COUNT - Click Here http://tbutton.prnewswire.com/prn/11690X46352418
SOURCE Health Management Associates, Inc.
NAPLES, Fla., April 24 /PRNewswire Interactive News Release/ -- Health Management Associates, Inc. (NYSE: HMA) announced today the execution of a Definitive Agreement to acquire Carlisle Hospital, a 200-bed acute care hospital located in Carlisle, Pennsylvania. This is the third hospital acquisition of fiscal 2001, and HMA expects this transaction will become effective in June 2001. "The Carlisle Hospital is a sole community provider that has an excellent reputation, and we are very excited about the opportunity to expand services in South Middletown Township and Cumberland County," said Joseph V. Vumbacco, CEO of Health Management Associates. "We will move forward with plans to replace the existing hospital, and continue to enhance the quality of care for our patients. Carlisle Hospital now joins our two Lancaster County hospitals in providing high quality medical services to non-urban areas in Pennsylvania with a proven demographic need." "We will continue to focus our efforts on non-urban acquisitions where we can implement our proven and successful operating strategy," added Vumbacco. "Improving the quality of healthcare, investing the necessary capital, and recruiting top quality physicians in needed specialties will continue to earn us the reputation as the acquirer of choice." HMA, the largest non-urban and third largest hospital company in the United States, is a major operator of general acute care hospitals in communities situated primarily in the Southeast and Southwest. The Company, upon the closing of this transaction and the previously announced transaction to acquire the Lee County Community Hospital, will operate 38 facilities in 12 states with 5,304 licensed beds. HMA has experienced 12 years of uninterrupted operating earnings growth. 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. MAKE YOUR OPINION COUNT - Click Here http://tbutton.prnewswire.com/prn/11690X46352418 SOURCE Health Management Associates, Inc.
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