Iasis Healthcare Corp., Franklin, Tenn., bucked the investor-owned trend by reporting higher patient volumes for the three months ended March 31; however, it reported lower profits compared with the year-ago quarter because of a charge. Iasis said adjusted admissions rose 5.5%, and the company posted net income of just under $11 million for its fiscal 2003 second quarter, down 14% from 2002's second quarter. The company said a $3.9 million charge was related to the refinancing of its $475 million senior bank credit facility. Revenue was up 11%, to $271.4 million. For the six months ended March 31, Iasis earned $18.4 million, up 42% from the year-ago period, on revenue of $526.2 million. -- by Vince Galloro
Iasis reports higher volume but lower profit for refinancing
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