Nashville, Tenn.-based Vanguard Health Systems posted a net loss of $19.2 million in the first quarter of its 2012 fiscal year, compared to a net income of $1.2 million in the same quarter of 2011, according to a Vanguard news release.
Vanguard, which currently owns 28 hospitals, attributed the loss to the debt extinguishment costs related to the senior discount notes redemption as well as acquisition-related expenses from its joint venture purchase of Harlingen, Texas-based Valley Baptist Health System, effective Sept. 1, 2011.
Vanguard's total revenue for the first quarter of FY 2012 totaled $1.44 billion, up 67.4 percent from the first quarter of FY 2011.
Same-hospital net patient service revenue was up 1.7 percent, which included a 2.2 percent increase in adjusted discharges. However, same-hospital inpatient surgeries were down 1.2 percent, and same hospital outpatient surgeries were down 3.2 percent, compared with the first quarter of 2011.
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Vanguard, which currently owns 28 hospitals, attributed the loss to the debt extinguishment costs related to the senior discount notes redemption as well as acquisition-related expenses from its joint venture purchase of Harlingen, Texas-based Valley Baptist Health System, effective Sept. 1, 2011.
Vanguard's total revenue for the first quarter of FY 2012 totaled $1.44 billion, up 67.4 percent from the first quarter of FY 2011.
Same-hospital net patient service revenue was up 1.7 percent, which included a 2.2 percent increase in adjusted discharges. However, same-hospital inpatient surgeries were down 1.2 percent, and same hospital outpatient surgeries were down 3.2 percent, compared with the first quarter of 2011.
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