Tuesday, July 31, 2007

Health Management net tumbles; forecast is weak

(Reuters) - CHICAGO, July 31 - Hospital chain Health Management Associates posted an 85 percent plunge in quarterly profit Tuesday, citing difficulties in collecting on hospital bills, and forecast 2007 profit significantly below Wall Street estimates.



HMA, whose shares fell 9 percent in pre-market trade, said second-quarter earnings fell to $11.9 million, or 5 cents a share, from $77.3 million, or 32 cents a share, a year earlier.


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