49 Statistics on Major For-Profit Hospital Chain Finances

Earlier this week, Fitch Ratings released a report on the operating trends at the largest for-profit hospital operators in the country, noting that revenue in the second quarter climbed an average of 3.7 percent despite weak admissions.


Here are 49 financial statistics of seven of those for-profit hospital chains from the Fitch Ratings report (pdf). Note: All statistics are as of June 30, 2012.

Hospital Corporation of America (Nashville, Tenn.) — 163 hospitals

Issuer default rating: B+
Total debt: $25.59 billion
Total liquidity: $3.62 billion
EBITDA in the past 12 months: $6.48 billion
Net revenue in the past 12 months: $32.94 billion
Same-hospital net revenue in the second quarter of 2012: 3.8 percent increase
Same-hospital admissions in the second quarter of 2012: 2.5 percent increase

Community Health Systems (Franklin, Tenn.) — 134 hospitals

Issuer default rating: B+
Total debt: $9.31 billion
Total liquidity: $822.4 million
EBITDA in the past 12 months: $1.93 billion
Net revenue in the past 12 months: $13.3 billion
Same-hospital net revenue in the second quarter of 2012: 4.5 percent increase
Same-hospital admissions in the second quarter of 2012: 2 percent decrease

Health Management Associates (Naples, Fla.) — 70 hospitals

Issuer default rating: BB-
Total debt: $3.59 billion
Total liquidity: $605.8 million
EBITDA in the past 12 months: $915.5 million
Net revenue in the past 12 months: $5.93 billion
Same-hospital net revenue in the second quarter of 2012: 6.1 percent increase
Same-hospital admissions in the second quarter of 2012: 4 percent decrease

LifePoint Hospitals (Brentwood, Tenn.) — 55 hospitals

Issuer default rating: BB
Total debt: $1.66 billion
Total liquidity: $492.3 million
EBITDA in the past 12 months: $557.4 million
Net revenue in the past 12 months: $3.46 billion
Same-hospital net revenue in the second quarter of 2012: 3.56 percent increase
Same-hospital admissions in the second quarter of 2012: 6.4 percent decrease

Tenet Healthcare (Dallas) — 49 hospitals

Issuer default rating: B
Total debt: $4.87 billion
Total liquidity: $527 million
EBITDA in the past 12 months: $1.12 billion
Net revenue in the past 12 months: $9.37 billion
Same-hospital net revenue in the second quarter of 2012: 6.24 percent increase
Same-hospital admissions in the second quarter of 2012: 0.4 percent decrease

Vanguard Health Systems (Nashville, Tenn.) — 28 hospitals

Issuer default rating: N/A
Total debt: $2.7 billion
Total liquidity: $788.5 million
EBITDA in the past 12 months: $547.5 million
Net revenue in the past 12 months: $5.95 billion
Same-hospital net revenue in the second quarter of 2012: 0.1 percent increase
Same-hospital discharges in the second quarter of 2012: 1.5 percent decrease
Note: Same-hospital admissions not included.

Universal Health Services (King of Prussia, Pa.) — 25 hospitals

Note: UHS has 194 behavioral hospitals in addition to the 25 acute-care hospitals
Issuer default rating: BB
Total debt: $3.25 billion
Total liquidity: $700.9 million
EBITDA in the past 12 months: $1.22 billion
Net revenue in the past 12 months: $7.24 billion
Same-hospital net revenue in the second quarter of 2012: 2.24 percent decrease
Same-hospital admissions in the second quarter of 2012: 4.3 percent decrease

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