Medical Facilities Corp. Q1 revenue hits $98.1M: 5 notes

Medical Facilities Corp. reported a revenue increase during the first quarter of 2021.

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Five notes:

1. Total revenue and income was up 5.8 percent to $98.1 million. Facility service revenue hit $94 million, a 1.2 percent increase over the same period last year.

2. Adjusted EBITDA jumped 35.4 percent year over year to $25.1 million.

3. The company received $4.1 million of government stimulus income in the quarter.

4. Medical Facilities’ quarterly net income dropped 29.4 percent to $10.3 million.

5. The company has ownership in four surgical hospitals and an ASC. Through its partnership with NueHealth, Medical Facilities has controlling interest in five additional ASCs.

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