Brentwood, Tenn.-based LifePoint Health reported consolidated revenues of $1.27 billion for the second quarter of fiscal year 2015, up 21.3 percent from $1.05 billion for the same period a year ago.
After accounting for its expenses, the for-profit hospital operator ended the second quarter with net income of $46.4 million, up from $39.1 million in the same period of the year prior.
LifePoint's strong finances are not limited to the second quarter. The system reported revenue of $2.53 billion for the six months that ended June 30, up from $2.05 billion in the comparable period of 2014. The for-profit hospital operator had net income of $85.3 million for the first half of 2015, compared to $76.2 million for the same period of last year.
Acquisitions have played a key role in LifePoint's strong financial picture. "We have added $1.2 billion in acquired revenue over the last two years and our pipeline remains active," said William F. Carpenter III, chairman and CEO of LifePoint. "All of these transactions present a significant opportunity for organic growth and margin expansion."
LifePoint also benefitted from seeing more patients, with admissions at its facilities increasing 9.1 percent in the second quarter of FY 2015 over the same period of last year. When adjusted for outpatient activity, admissions at its facilities were up 16.7 percent.
Based on its strong second-quarter financial and operating results LifePoint adjusted its 2015 outlook. The for-profit hospital operator now estimates its net revenue for the year will be between $5.15 billion and $5.25 billion.
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