56 Statistics on Major For-Profit Hospital Chain Finances

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For-profit hospitals recorded weak volumes in the second quarter of fiscal year 2012, but there was a "tepid recovery" of those volumes in the fourth quarter, according to a report from Fitch Ratings.



Despite a boost in the past quarter, same-hospital admissions at for-profit hospitals dropped 1 percent in 2012 compared with 2011. However, adjusted admissions increased 1.5 percent, the strongest gain since 2009, according to Fitch analysts.

Here are 56 financial statistics of eight of the largest for-profit hospital chains from the Fitch Ratings report, updated from six months ago. Note: All statistics are as of Dec. 31, 2012.

Hospital Corporation of America (Nashville, Tenn.) — 162 hospitals

Issuer default rating: B+
Total debt: $26.41 billion
Total liquidity: $3.67 billion
EBITDA in the past 12 months: $6.59 billion
Net revenue in the past 12 months: $33.01 billion
Same-hospital net revenue in the fourth quarter of 2012: 5.6 percent increase
Same-hospital admissions in the fourth quarter of 2012: 4.3 percent increase

Community Health Systems (Franklin, Tenn.) — 135 hospitals

Issuer default rating: B+
Total debt: $9.24 billion
Total liquidity: $1.1 billion
EBITDA in the past 12 months: $1.98 billion
Net revenue in the past 12 months: $13.03 billion
Same-hospital net revenue in the fourth quarter of 2012: 5.5 percent increase
Same-hospital admissions in the fourth quarter of 2012: 1 percent increase

Health Management Associates (Naples, Fla.) — 71 hospitals

Issuer default rating: BB-
Total debt: $3.57 billion
Total liquidity: $505.7 million
EBITDA in the past 12 months: $999.8 million
Net revenue in the past 12 months: $5.88 billion
Same-hospital net revenue in the fourth quarter of 2012: 5.1 percent increase
Same-hospital admissions in the fourth quarter of 2012: 4.7 percent decrease

LifePoint Hospitals (Brentwood, Tenn.) — 52 hospitals

Issuer default rating: BB
Total debt: $1.74 billion
Total liquidity: $320.2 million
EBITDA in the past 12 months: $573 million
Net revenue in the past 12 months: $3.39 billion
Same-hospital net revenue in the fourth quarter of 2012: 0.5 percent increase
Same-hospital admissions in the fourth quarter of 2012: 4 percent decrease

Tenet Healthcare (Dallas) — 49 hospitals

Issuer default rating: B
Total debt: $5.37 billion
Total liquidity: $1.01 billion
EBITDA in the past 12 months: $1.24 billion
Net revenue in the past 12 months: $9.12 billion
Same-hospital net revenue in the fourth quarter of 2012: 7.3 percent increase
Same-hospital admissions in the fourth quarter of 2012: 0 percent increase

Vanguard Health Systems (Nashville, Tenn.) — 28 hospitals

Issuer default rating: B+
Total debt: $2.56 billion
Total liquidity: $685 million
EBITDA in the past 12 months: $585.8 million
Net revenue in the past 12 months: $6.03 billion
Same-hospital net revenue in the fourth quarter of 2012: 2.5 percent increase
Same-hospital discharges in the fourth quarter of 2012: 1.4 percent decrease

Universal Health Services (Nashville, Tenn.) — 23 hospitals

Note: UHS has 197 behavioral hospitals in addition to the 23 acute-care hospitals
Issuer default rating: BB
Total debt: $3.5 billion
Total liquidity: $624 million
EBITDA in the past 12 months: $1.31 billion
Net revenue in the past 12 months: $6.96 billion
Same-hospital net revenue in the fourth quarter of 2012: 3.1 percent increase
Same-hospital admissions in the fourth quarter of 2012: 0.6 percent increase

IASIS Healthcare (Franklin, Tenn.) — 19 hospitals

Issuer default rating: N/A
Total debt: $1.87 billion
Total liquidity: $234.7 million
EBITDA in the past 12 months: $294.2 million
Net revenue in the past 12 months: $2.55 billion
Same-hospital net revenue in the fourth quarter of 2012: N/A
Same-hospital admissions in the fourth quarter of 2012: 0.4 percent decrease

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