Health Management Associates lost hundreds of millions of dollars in revenue last year as it was being purchased by a Tennessee hospital chain, newly released financial statements show. HMA lost $328.5 million in 2013, compared with nine-figure profits in 2012 and 2011, according to documents filed with the Securities and Exchange Commission on Thursday by Franklin, Tenn.-based Community Health Systems. The SEC filings marked the end of a year in which HMA saw the sudden retirement of CEO Gary Newsome, the replacement of its board of directors by a shareholder group and a rash of whistle-blower lawsuits alleged corporate fraud in hospitals across the county.
