Vanguard Health Systems, Nashville, said its profits increased 42% to $19.6 million for its fiscal third quarter ended March 31, up from $13.8 million in the year-ago quarter. Revenue was up 39.3% to $643 million. The company said expansion of services and physician recruitment in established markets offset the weaker performance of two Massachusetts hospitals recently purchased from Tenet Healthcare Corp. Vanguard said integration of the two hospitals was going well. For the nine months ended March 31, Vanguard lost $81.7 million, compared with profits of $23.7 million in the year-ago period. The loss was attributed to costs related to Vanguard's first-quarter recapitalization by the Blackstone Group. Revenue was up 24.6% to $1.64 billion. Vanguard said same-hospital adjusted discharges increased 7.3% for the third quarter and 7% for the nine months, over the year-ago periods. -- by Vince Galloro
Vanguard's profits up 42%, revenue up 39%
Send us a letter
Have an opinion about this story? Click here to submit a Letter to the Editor, and we may publish it in print.