LifePoint gets revenue boost from acquisitions

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Brentwood, Tenn.-based LifePoint Health reported revenues of $1.6 billion in the third quarter of 2016, up 21.1 percent from revenues of $1.3 billion in the same period of 2015.

The for-profit hospital operator said the financial boost was primarily attributable to the company's recent acquisitions. LifePoint has acquired several hospitals in recent years, including Clark Memorial Hospital in Jeffersonville, Ind., Fleming County Hospital in Flemingsburg, Ky., Watertown (Wis.) Regional Medical Center, and Providence Hospitals, a two-hospital system in Columbia, S.C.

LifePoint ended the third quarter with net income of $41.2 million, down 10 percent from net income of $45.8 million in the same period of 2015. Net income for the period ended Sept. 30 includes various nonrecurring expenses, such as an impairment charge of $2.2 million related to the divestiture of a hospital, according to LifePoint.

"We are pleased with our results for the quarter," said LifePoint Chairman and CEO William F. Carpenter III. "We are disciplined operators, and our core business is solid and performing well."

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