Trinity Health Corp. of Livonia, Mich., which has a nationwide network of 93 hospitals that includes St. Francis Hospital and Medical Center and two others in Connecticut, reported 7.9 percent revenue growth in its fiscal year ended June 30 and 76 percent growth in operating income.
Total operating revenue was $17.6 billion, up $1.3 billion, or 7.9 percent, from fiscal year 2016. Excluding the effects of its Connecticut acquisitions of St. Francis on Oct. 1, 2015, Johnson Memorial Medical Center in Stafford Springs on Jan. 1, 2016, and St. Mary’s Health System in Waterbury on Aug. 1, 2016, revenue increased $699.6 million, or 4.5 percent.
Operating income before other items was $266.1 million, up from $151.3 million in fiscal 2016.
Excluding Trinity’s Connecticut acquisitions, operating income before other items was $231.5 million, up from $143 million a year earlier.
Trinity also reported nonoperating income of $1.4 billion, up $1.3 billion from 2016, driven by strong investment earnings, with net margin rising to 7.3 percent over the prior year’s net margin of 0.3 percent.
