Aurora Health Care to pay $433M for 19 properties

Aurora Health Care, a 15-hospital health system based in Milwaukee, ended the third quarter of 2017 with operating income of $60.7 million, up 12.2 percent from the same period of the year prior, according to recently released bondholder documents.

The system said revenues increased 4.7 percent year over year to $1.3 million in the third quarter of 2017, which ended Sept. 30. Aurora Health Care's expenses climbed to $1.2 million in the most recent quarter, a 4.4 percent increase from the third quarter of 2016.

The health system announced in its recent financial disclosure that it entered into an agreement Nov. 21 to purchase 19 properties for $433 million. "We are currently obligated under capital lease and financing arrangements entered into in connection with certain leasing and sale-leaseback transaction for 18 of these properties," Aurora stated in its financial documents. The transaction is expected to close in early January.

Looking at the first nine months of 2017, Aurora Health Care's operating income fell 6.7 percent year over year to $247.4 million, as rising expenses offset revenue gains.

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