Brentwood, Tenn.-based LifePoint Hospitals, which operates 68 hospitals in 21 states, recorded $1.17 billion in revenues from continuing operations in the third quarter of 2014, up 29.6 percent from the $899.7 million the hospital operator posted for the third quarter of 2013.
LifePoint's third-quarter EBITDA was $155.7 million, up 15.9 percent from the $134.3 million recorded for the same period last year. The EBITDA excluded a $12.2 million impairment charge for the write down of equipment and property in connection with the pending sale of one of its Louisiana hospitals.
"We delivered another solid performance in the third quarter of 2014," said William F. Carpenter III, chairman and CEO of LifePoint. "Our results were driven by the performance of our recent acquisitions, improved volumes and solid cost management."
In the second quarter of this year, LifePoint acquired Haywood Regional Medical Center in Clyde, N.C., Harris Regional Hospital in Sylva, N.C., and Swain County Hospital in Bryson City, N.C.
Based on its strong third quarter financial results, LifePoint estimated its net revenue for 2014 will be between $4.45 billion and $4.50 billion, and its estimated adjusted EBITDA will be between $630 million and $640 million.
More articles on healthcare finance:
Hospital prices up 1.7% year-over-year in September
5 most-read finance stories: Week of Oct. 13-17
5 key hospital finance trends to watch