Woodland Hills, Calif.-based Health Systems International reported that income for 1994, including merger-related costs, more than tripled to $88.1 million, or $1.77 per share, from $23.8 million, or 48 cents per share, the previous year.
Results for the year ended Dec. 31, 1994, include costs of $672,000 related to HSI's proposed acquisition of M.D. Enterprises of Connecticut. 1993 figures include costs of $29.7 million associated with the merger of Health Net and Qual-Med, which created HSI. Revenues rose 18% in 1994 to $2.3 billion.
HSI said the increase in revenues was primarily the result of a 13% increase in enrollment, to 1.46 million enrollees at the end of 1994 from 1.3 million at the end of 1993.