Health Management Associates is one of two stocks to consider buying during the month of October. (The other is Medtronic.)
Business Summary: Health Management Associates, Inc. provides a broad range of general acute care health services in non-urban communities. Manages a total of 46 acute care hospitals and psychiatric hospitals in 15 states (WA, TX, OK, AR, MS, GA, AL, MO, SC, NC, KY, WV, VA, PA, and FL), with 6,326 beds (5/03 press release). Revenue breakdown in ’02: Medicare, 47%; Medicaid, 13%; private, 40%. Occupancy rate in 2002: 47.9%. Has about 19,000 employees. W. J. Schoen owns 6.1% of common; officers & directors, 8.7%; The Equitable Companies, 10.7% (12/02 proxy). Chairman: William J. Schoen. Pres. & CEO: Joseph V. Vumbacco. Inc.: DE. Address: 5811 Pelican Bay Boulevard, Suite 500, Naples, FL 34108-2710. Tel.: 941-598-3131. Internet: www.hma-corp.com