Franklin, Tenn.-based Capella Healthcare reported a net loss of $5.5 million in the third quarter of fiscal year 2012, which was a 50 percent increase from its loss in the 2011 quarter.
The losses stemmed primarily from Capella's continued acquisitions, which have been part of an aggressive growth strategy. For example, in July, Capella finalized its acquisition of Muskogee (Okla.) Community Hospital, and in June, Capella and Nashville, Tenn.-based Saint Thomas Health created a management structure for the operation of four hospitals in Tennessee.
Capella's revenue in the third quarter of 2012 increased 7 percent, from $170.5 million last year to $183.4 million this year. Capella's adjusted EBITDA in the third quarter increased slightly to $22.2 million.
Also in the third quarter, Capella witnessed growth in its same-hospital operating figures. Admissions increased 4.5 percent, while adjusted admissions grew 5.4 percent. Inpatient surgeries, outpatient surgeries and emergency room visits were all up in the third quarter as well.
For the first nine months of FY 2012, Capella recorded a net loss of $2.1 million and adjusted EBITDA of $79.4 million. Total revenue increased 10.5 percent in the first nine months, from $511.1 million to $564.6 million. Same-facility admissions and adjusted admission also increased 2.1 percent and 6.1 percent, respectively, for the nine months ended Sept. 30.
The losses stemmed primarily from Capella's continued acquisitions, which have been part of an aggressive growth strategy. For example, in July, Capella finalized its acquisition of Muskogee (Okla.) Community Hospital, and in June, Capella and Nashville, Tenn.-based Saint Thomas Health created a management structure for the operation of four hospitals in Tennessee.Capella's revenue in the third quarter of 2012 increased 7 percent, from $170.5 million last year to $183.4 million this year. Capella's adjusted EBITDA in the third quarter increased slightly to $22.2 million.
Also in the third quarter, Capella witnessed growth in its same-hospital operating figures. Admissions increased 4.5 percent, while adjusted admissions grew 5.4 percent. Inpatient surgeries, outpatient surgeries and emergency room visits were all up in the third quarter as well.
For the first nine months of FY 2012, Capella recorded a net loss of $2.1 million and adjusted EBITDA of $79.4 million. Total revenue increased 10.5 percent in the first nine months, from $511.1 million to $564.6 million. Same-facility admissions and adjusted admission also increased 2.1 percent and 6.1 percent, respectively, for the nine months ended Sept. 30.
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