Medical Facilities Corp., a Toronto-based healthcare management company with a majority stake in five U.S. specialty hospitals and one ambulatory surgery center, recently posted net income of $62.2 million in fiscal year 2012 — more than five times its $12.1 million profit recorded in FY 2011.
A significant portion of that total, more than $39.9 million, came in the fourth quarter ended Dec. 31, 2012.
In November, MFC purchased a 51 percent interest in Arkansas Surgical Hospital, a 51-bed specialty surgical hospital based in North Little Rock, for $36,706. The fourth quarter and year-end results included the operating results of ASH.
MFC's revenue in the fourth quarter of 2012 rose 16.4 percent to $71.9 million, and revenue for all of 2012 jumped 10.6 percent to $239.4 million. As of Dec. 31, 2012, MFC also had total assets of $439.8 million, a 31.5 percent increase from 2011.
MFC's lone ASC is the Surgery Center of Newport Coast in Newport Beach, Calif. Its hospitals are ASH, Black Hills Surgical Hospital in Rapid City, S.D., Dakota Plains Surgical Center in Aberdeen, S.D., Oklahoma Spine Hospital in Oklahoma City, and Sioux Falls (S.D.) Specialty Hospital.
A significant portion of that total, more than $39.9 million, came in the fourth quarter ended Dec. 31, 2012.
In November, MFC purchased a 51 percent interest in Arkansas Surgical Hospital, a 51-bed specialty surgical hospital based in North Little Rock, for $36,706. The fourth quarter and year-end results included the operating results of ASH.
MFC's revenue in the fourth quarter of 2012 rose 16.4 percent to $71.9 million, and revenue for all of 2012 jumped 10.6 percent to $239.4 million. As of Dec. 31, 2012, MFC also had total assets of $439.8 million, a 31.5 percent increase from 2011.
MFC's lone ASC is the Surgery Center of Newport Coast in Newport Beach, Calif. Its hospitals are ASH, Black Hills Surgical Hospital in Rapid City, S.D., Dakota Plains Surgical Center in Aberdeen, S.D., Oklahoma Spine Hospital in Oklahoma City, and Sioux Falls (S.D.) Specialty Hospital.
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