HCA Healthcare Lowers 2022 Guidance

HCA Healthcare Lowers 2022 Guidance

HCA Healthcare posted its financial performance for the first quarter of 2022, and there was some good news. The health system saw higher year-over-year revenues, increasing nearly 7% to $14.945 billion, compared to $13.977 billion in the first quarter of 2021. Same-facility revenue per equivalent admission increased 2.7% over the first quarter of 2021, while same-facility inpatient revenues grew 5.4%, and same-facility outpatient revenues rose 10.6%. Despite these gains, HCA’s year-over-year net income dipped, dropping from the first quarter of 2021’s $1.4 billion to nearly $1.3 billion in the first quarter of 2022. Adjusted EBITDA for the quarter also dipped from last year’s nearly $3.1... Read More »
Piedmont and The University Health Care System Finalize Merger

Piedmont and The University Health Care System Finalize Merger

Piedmont Healthcare has expanded its already deep network in Georgia with the finalization of its merger with The University Health Care System. The two organizations signed a letter of intent in May 2021, and on Tuesday, March 1, University Health joined the Atlanta-based system. University Health Care System serves the greater Augusta region, anchored by University Hospital (598 beds), founded in 1818 as City Hospital. The system includes University Hospital Summerville (231 beds), also in downtown Augusta, and University Hospital McDuffie (25 beds) in Thomson, Georgia. In addition, University has two skilled nursing and rehabilitation centers and serves ambulatory patients with... Read More »

Despite Omicron, HCA Q4 Report Shows Strong Growth

This week, HCA Healthcare, the publicly traded health system, released its fourth quarter of 2021 earnings report. Although the “Omicron surge started to influence [its] business in early December,” HCA made it through the final three months of 2021 just fine. The health system’s revenues increased to $15.1 billion, from $14.29 billion in the fourth quarter of 2020. Net income attributable to HCA totaled $1.81 billion, or $5.75 per diluted share, compared to $1.43 billion, or $4.13 per diluted share, in the fourth quarter of 2020. Results for the fourth quarter of 2021 include gains on sales of facilities of $563 million, or $1.33 per diluted share. Adjusted EBITDA... Read More »
Diana Health Raises $11 Million in Series A Funding to Redesign Health Programs at Hospitals

Diana Health Raises $11 Million in Series A Funding to Redesign Health Programs at Hospitals

New York City-based Diana Health has secured $11 million in a Series A funding round for redesigning maternity and women’s health programs at hospitals. In conjunction with the funding round, Diana Health has also formed a collaboration with TriStar StoneCrest Medical Center, part of TriStar Health, the local health system of Nashville-based hospital giant HCA Healthcare Inc. Diana Health will open its first physical location and launch its first end-to-end maternal care program with TriStar StoneCrest in Smyrna, Tennessee in the coming weeks. The funding, co-led by two venture capitalists firms, LRVHealth and .406 Ventures, with participation from existing investor AlleyCorp. will be used... Read More »
Inspira Health Network Acquires Salem Medical Center

Inspira Health Network Acquires Salem Medical Center

Inspira Health Network, a charitable nonprofit health care organization in New Jersey, has a new system under its banner. The health system has announced Salem Medical Center will be joining its network. Salem Medical Center is an 87-bed facility owned by Salem County Hospital Corp., a not-for-profit that was formed to acquire the facility from publicly traded Community Health Systems Inc. The hospital was purchased in 2019 and valued the facility at $1 million. Salem Medical Center recently added a 26-bed Behavioral Health Unit and offers a variety of healthcare services. In 2019, the hospital generated $53 million in net patient revenue but recorded an operating loss of nearly $1... Read More »
Piedmont and The University Health Care System Finalize Merger

Highlands Hospital Joins Penn Highlands Healthcare

Penn Highlands Healthcare, a not-for-profit health system located through northern Pennsylvania, has added another facility under its banner. Highlands Hospital, formerly known as Cottage State Hospital, has agreed to join the Penn Highlands network, which is expected to take full effect in early 2022. Highlands Hospital provides patient care as a non-profit general acute care hospital located in Laurel Highlands of Southwestern Pennsylvania. Highlands Hospital is in affiliation with Cleveland Clinic Children’s Center for Autism helps to provide families educational and behavioral treatment. The hospital has 61 beds and generated approximately $26.7 million in revenue in 2020, but the... Read More »