HealthSouth Restates Financial Results
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HealthSouth Corp. restated its finances for the final years of a huge fraud and said that it hoped to be current on its financial statements by the end of 2005.
In a 170-page filing with the Securities and Exchange Commission that included an additional 114 pages of notes, HealthSouth said actual revenue in 2000 and 2001 was $7.1 billion -- about $1.5 billion less than previously reported.
The rehabilitation and medical services chain lost $364 million in 2000 and $191 million in 2001 rather than making the $481 million total that it originally reported for those years, according to HealthSouth’s restatements.
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