Vanguard Health Systems has released its third quarter financial results, announcing a profit of $2.8 million for stockholders, compared to a $32.8 million loss a year prior, according to a Detroit News report.
For the quarter ended March 31, revenue jumped 77 percent from $661.5 million to $1.52 billion. The hospital operator attributed the increase to its 2011 acquisitions, including the Jan. 1 acquisition of eight-hospital Detroit Medical Center.
Vanguard plans to move forward with its proposed $600 million initial public offering, which it filed for last month with Securities and Exchange Commission.
Read the Detroit News report on Vanguard Health Systems.
Related articles on Vanguard Health Systems:
Vanguard Plans to Sell Up To $600M in IPO
Vanguard Health Systems Cuts Corporate Workforce by 10%
Detroit Medical Center to Assess Distribution of $150M of Charitable Assets After Sale to Vanguard
For the quarter ended March 31, revenue jumped 77 percent from $661.5 million to $1.52 billion. The hospital operator attributed the increase to its 2011 acquisitions, including the Jan. 1 acquisition of eight-hospital Detroit Medical Center.
Vanguard plans to move forward with its proposed $600 million initial public offering, which it filed for last month with Securities and Exchange Commission.
Read the Detroit News report on Vanguard Health Systems.
Related articles on Vanguard Health Systems:
Vanguard Plans to Sell Up To $600M in IPO
Vanguard Health Systems Cuts Corporate Workforce by 10%
Detroit Medical Center to Assess Distribution of $150M of Charitable Assets After Sale to Vanguard