Health Management Earnings Fall on Bad Debt

Published on:
12 September 2006 at 10:21 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00010249-health-management-earnings-fall-on-bad-de/

While HCA was enjoying the largest leveraged buyout ever, HMA — Health Management Associates Inc. ? isn?t having nearly as good a week.

As reported in a Reuters story, Health Management shares fell about 10 percent in the first half of 2006. And in the second quarter? Not much better: HMA reported today that it?s reporting even lower second quarter earnings ? due, in no small part, to a hefty amount of unpaid medical bills and a slow-down in patient admissions.

Net income fell to $77.3 million, or 32 cents per share, from $86.8 million, or 35 cents per share, a year earlier.