Livonia, Mich.-based CHE Trinity Health saw its operating income decline by 28 percent during the first nine months of its 2014 fiscal year to $203.7 million.
For the nine months ended March 31, the health system reported nearly $25 million in consolidation costs. CHE Trinity was formed in May 2013 through the merger of Livonia, Mich.-based Trinity Health and Newtown Square, Pa.-based Catholic Health East. During the first nine months of fiscal year 2013, consolidation costs totaled only about $9.4 million, according to an unaudited quarterly report.
CHE Trinity also reported a $32.7 million asset impairment charge for the nine months ended March 31, primarily concerning the write-down of a building, land and equipment at Mercy Suburban Hospital in Port Huron, Mich., to its estimated fair value, according to the report.
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