Miami hospital operator settles with U.S. SEC over disclosures

WASHINGTON, Sept 13 Fri Sep 13, 2013 4:03pm EDT

WASHINGTON, Sept 13 (Reuters) - The operator of Miami-Dade County's largest hospital will settle civil charges accusing it of misleading investors about its financial condition before an $83 million bond offering, U.S. regulators said on Friday.

The Public Health Trust, the governing body for Jackson Health System, will not face a civil monetary penalty due to its cooperation with the federal government during the investigation and its current financial condition.

The U.S. Securities and Exchange Commission alleged that the Public Health Trust misstated current and future revenue due to problems with a new billing system that inaccurately recorded revenue and patient accounts receivable.

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