Net income for Ascension Health, St. Louis, nearly doubled in the fiscal year ended June 30, largely because of its merger with Carondelet Health System, according to the company's financial report. The 67-hospital Roman Catholic system reported net income of $215 million on total operating revenue of $9.1 billion in its fiscal 2003. That compares with net income of $111 million on total operating revenue of $7.7 billion the previous year. The increased income resulted from improved operations and the asset gain of Carondelet's eight hospitals, an Ascension spokeswoman said. Ascension did not pay cash in the deal but took on $250 million in Carondelet debt. -- by Patrick Reilly
Ascension's income jumps with Carondelet merger
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