Trinity Health’s recently acquired Connecticut hospitals helped the Michigan company return to a surplus in the latter half of 2016, Trinity reported recently.
Trinity, which is a not-for-profit, booked a surplus of $736.7 million in the first six months of its 2017 fiscal year through Dec. 31, up from a deficit $176.9 million in the year-ago period.
Part of the reason for the improvement was higher revenue, which grew 9.9 percent, to $8.7 billion over the first half of the prior year.
Connecticut hospitals accounted for $417.9 million of that increase, Trinity said.
The company owns Hartford’s St. Francis Hospital and Medical Center, St. Mary’s Hospital in Waterbury and Johnson Memorial Hospital in Stafford Springs.
Excluding acquisitions, Trinity Health’s revenue increased primarily due to volume growth and improved revenue realization, the company said.
Trinity has 93 acute care hospitals in the U.S.
