Naples, Fla.-based Health Management Associates released its earnings for the quarter ended June 30, 2011, reporting a 13.4 percent jump in revenue to $1.3 billion and a 22 percent jump in net income attributable to the company to $48.6 million compared the second quarter of 2010.
The positive results contrast HCA's weaker-than-expected earnings announced earlier this week, which caused share prices of investor-owned hospitals to drop.
The hospital operator's admissions increased 2.2 percent while adjusted admissions increased 6.2 percent. Same hospital net revenue increased 4.2 percent, while same hospital surgeries remained relatively flat, with an increase of just 0.1 percent.
"We are very pleased to report another solid quarter," Gary D. Newsome, Health Management's President and CEO said in a news release. "There are a number of exciting things taking place at Health Management, and we remain focused on the fundamentals -— effective cost controls, emergency room operations, physician recruitment and market service development. We continue to believe that over the foreseeable future the acquisition and partnership pipeline represents a tremendous growth opportunity for us. We continue to review partnership opportunities with community hospitals in non-urban and midsize markets, and we will remain disciplined in our acquisition approach."
Read the entire release on HMA's earnings.
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The positive results contrast HCA's weaker-than-expected earnings announced earlier this week, which caused share prices of investor-owned hospitals to drop.
The hospital operator's admissions increased 2.2 percent while adjusted admissions increased 6.2 percent. Same hospital net revenue increased 4.2 percent, while same hospital surgeries remained relatively flat, with an increase of just 0.1 percent.
"We are very pleased to report another solid quarter," Gary D. Newsome, Health Management's President and CEO said in a news release. "There are a number of exciting things taking place at Health Management, and we remain focused on the fundamentals -— effective cost controls, emergency room operations, physician recruitment and market service development. We continue to believe that over the foreseeable future the acquisition and partnership pipeline represents a tremendous growth opportunity for us. We continue to review partnership opportunities with community hospitals in non-urban and midsize markets, and we will remain disciplined in our acquisition approach."
Read the entire release on HMA's earnings.