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Business Description
Health Management Associates, Inc. provides a broad range of general acute care health services in non-urban communities. As of September 30, 2001, the Company operated 36 general acute care hospitals with a total of 5,184 licensed beds and two psychiatric hospitals with a total of 134 licensed beds. For the year ended September 30, 2001, the acute care hospital operations accounted for approximately 97% of the Company's net patient service revenue and the psychiatric hospital operations accounted for approximately 1%.

Financial Information
HMA provides general acute health services in nonurban locations through the operation of 36 general acute care hospitals and two psychiatric hospitals. For the nine months ended 6/30/02, revenues rose 20% to $1.67 billion. Net income rose 30% to $186.3 million. Revenues reflect inpatient and outpatient volume increases and rate increases. Net income also benefitted from higher margins and the absence of $17 million in retirement benefits and asset write-down charges.