Livonia, Mich.-based Trinity Health, formerly known as CHE Trinity, reported a net surplus of $114.7 million for the first quarter of its fiscal 2015, down from the $233.4 million surplus the system posted for the same period of last year.
Trinity Health's revenue increased to $3.5 billion in the first quarter, up from $3.3 billion in the same period in its last fiscal year. However, the system's expenses also grew from $3.3 billion in the first quarter of fiscal 2014 to $3.4 billion in the first quarter of fiscal 2015.
Due to a number of factors, including patient volume growth, Trinity Health's operating income for the first three months of fiscal 2015 was $96.4 million, up $25.9 million from the same period of last year.
However, the system had a loss of $55.4 million on its investments, which led to the system's net surplus falling by $118.7 million.
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