September 15, 2008
Gary Newsome Named President and CEO of Health Management Associates
Health Management Associates, Inc. (NYSE: HMA) today announced that its Board of Directors has appointed Gary D. Newsome as the Company's President and Chief Executive Officer, and as a member of the Board, effective immediately. Mr. Newsome was most recently President of hospital operations of the division of Community Health Systems, Inc. (NYSE: CYH) that includes hospitals in Illinois, New Jersey, Pennsylvania, Tennessee and West Virginia. From 1993 to 1998, he was a senior executive with HMA. Mr. Newsome replaces Burke W. Whitman who has chosen to leave the Company. Mr. Whitman, a Colonel in the United States Marine Corps Reserve, has been offered new responsibilities in military service which he intends to pursue.
All of HMA's hospital operations will report directly to Mr. Newsome. Reflecting this change, Kelly E. Curry, Executive Vice President and Chief Operating Officer, will become the company's Chief Administrative Officer, a new position, and will report to Mr. Newsome.
William J. Schoen, Chairman of the Board of HMA, said, "We are delighted to welcome Gary Newsome back to Health Management Associates as our new CEO. Throughout his career, including his tenure at HMA, Gary has distinguished himself as one of the hospital industry's most outstanding operating executives. Gary brings to HMA a track record of success and exceptional leadership skills, 25 years of hospital operations experience and a vision for the future of our industry. The Board believes that he is the right person to lead our company as we work to further strengthen the outstanding care we provide our patients and improve our financial performance.
"We thank Burke Whitman for his many contributions to the company. Those contributions included achieving significant levels of quality and satisfaction in all of our hospitals, with ratings in the 90 percent level. We wish him every success in the future," Mr. Schoen added.
Mr. Newsome said, "It is a particular honor to return as CEO to Health Management Associates, where I spent several fulfilling years earlier in my career. HMA's hospital portfolio is one of the industry's best, and I am confident we will make significant progress. I look forward to working closely with the HMA Board, management team and hospital leadership, including many valued colleagues from my previous tenure, and the outstanding health care professionals associated with our company. HMA has an outstanding future, and together I believe we will accomplish a great deal as we strive to increase admissions in our hospital operations and enhance shareholder value."
Mr. Newsome joined Community Heath Systems in 1998 and, before assuming his most recent responsibilities as a Division President, served as Vice President of Group Operations. Prior to joining Community Health, he was with HMA from 1993 to 1998 where he served as a Divisional Vice President of Group Operations, as well as Assistant Vice President of Group Operations and Hospital CEO. Mr. Newsome began his career in hospital operations with Humana. Mr. Newsome received a Bachelor of Science degree from Bluefield State College in West Virginia, a Masters in Business Administration from Butler University in Indianapolis, and completed advanced studies at the University of Michigan School of Business. Mr. Newsome and his wife Kathy are parents of seven children.
HMA owns and operates 56 hospitals, with approximately 8,000 licensed beds, in non-urban communities located throughout the United States. HMA's mission is the delivery of compassionate and high quality health care services that improve the quality of life for its patients, physicians, and the communities it serves. All references to "HMA" or the "Company" used in this release refer to Health Management Associates, Inc. or its affiliates.
Certain statements contained in this release, including, without limitation, statements containing the words "believes,""anticipates,""intends,""expects,""optimistic,""objective," and words of similar import, constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may include projections of revenue, income or loss, capital expenditures, debt structure, bad debt expense, capital structure, or other financial items, statements regarding the plans and objectives of management for future operations, statements of future economic performance, statements of the assumptions underlying or relating to any of the foregoing statements, and other statements which are other than statements of historical fact.
Statements made throughout this release are based on current estimates of future events, and HMA has no obligation to update or correct these estimates. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially as a result of these various factors.