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Sep. 9, 2013, 1:09 PM
- Community Health Systems (CYH -3.9%) slips after Citigroup cut the shares from Buy to Neutral earlier, and lowered its price target from $60 to $42.
- The firm says that while CYH's potential deal with HMA represents an accretive acquisition of complimentary assets, it also increases its financial leverage, operating and legal risk.
- Citi is concerned that Q3 results for both companies could lead to another round of estimate reductions.
Jul. 30, 2013, 10:02 AM
- Health Management Associates (HMA -10.4%) expects Q2 adjusted EPS $0.10-0.11 vs forecasts of $0.21.
- Predicts net revenue of $1.46B vs $1.69B a year ago and consensus of $1.73B, hurt by weak admissions.
- Adjusted EBITDA seen at $190-195M.
- Same hospital net revenue is expected to fall by $74M, due to lower revenue per adjusted admission.
- Receives additional subpoenas from the U.S. Department of Health & Human Services regarding certain emergency room operations and physician relationships. (PR)
- Names John Starcher as interim President and CEO, effective from Thursday, to replace the retiring Gary Newsome. Starcher is HMA's Eastern Group President.
- Earlier, HMA announced that it's being bought by Community Health Systems (CYH -1%) for $3.9B.
Jul. 30, 2013, 9:12 AM
Jul. 30, 2013, 7:30 AM
- In a deal that's been expected for a while, Community Health Systems (CYH) agrees to acquire Health Management Associates (HMA) for $3.9B in cash and shares.
- The offer of $13.78 a share is lower than the latter's close of $14.92 yesterday.
- Community Health is also taking on $3.7B i debt, taking the total deal to $7.6B.
- Health Management's shares are -4.8% to $14.20. (PR)
Jul. 29, 2013, 9:49 AM| Comment!
Jul. 23, 2013, 10:38 AM
Jul. 19, 2013, 3:39 PM
Jul. 19, 2013, 9:35 AM
Jul. 16, 2013, 12:48 PM
Jul. 9, 2013, 3:45 PMMore on the takeover rumors that have shares of Health Management Associates (HMA +8.1%) moving sharply to the upside in afternoon trading: Community Health Systems (CYH +3.9%) is the most likely buyer, sources tell Reuters, although HCA Holdings (HCA +1%) and LifePoint Hospitals (LPNT +3.3%) are also mentioned as interested parties. | Comment!
Jul. 9, 2013, 2:11 PM
Jun. 12, 2013, 4:54 PMHealth Management Associates (HMA) confirms that it's in discussions with advisors, saying that its board has engaged Morgan Stanley and Weil, Gotshal & Manges in connection with the accumulation of shares by Glenview Capital, as well as to consider all strategic alternatives available. HMA doesn't intend to disclose any further developments until it's appropriate. In addition, a committee has been formed to lead a search for potential candidates to replace Gary Newsome, who will be retiring effective July 31. Shares +2.5% AH. | Comment!
Jun. 12, 2013, 12:45 PM
Jun. 12, 2013, 8:30 AMDeutsche Bank is fond of its Health Management (HMA) takeout thesis (previous) and now says "recent management turnover" and the activist agenda of the company's largest shareholder (Glenview, 13D filing) "significantly increase the probabilities HMA's board could put the company in play." $20/share seems like a reasonable figure to DB and based on analyst Darren Lehrich's recent note, Tenet (THC) could be the bidder. HMA upgraded to Buy (PT to $18 from $12). Shares +11.27% premarket. | Comment!
Jun. 6, 2013, 11:35 AMMore interesting tidbits from Deutsche Bank's upgrade of Tenet Healthcare (THC +2.1%): Analyst Darren Lehrich (who spoke with management) says THC did not rule out "large-scale M&A (acquiring other investor-owned chains)," fueling some speculation about a deal for Health Management Associates (HMA +0.8%). A nice thought perhaps, but Lehrich says THC noted its recent strategy of "divesting rural assets," something HMA has a lot of. | Comment!
May. 31, 2013, 1:57 PMHealth Management Associates (HMA +4%) move up amid chatter that fellow hospital operator Community Health (CYH +4.5%) might be looking to buy the company. Susquehanna says CYH's continued interest in acquiring assets with scale "implies it would be interested in acquiring HMA in a friendly, non- hostile process" though any deal is unlikely to be happen in the very near term. | Comment!
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