Mayo Clinic saw operating income rise to $707M in 2017

Rochester, Minn.-based Mayo Clinic ended 2017 on strong financial footing.

Mayo Clinic reported operating income of $707 million on revenue of $12 billion in 2017. That's compared to 2016, when Mayo recorded operating income of $475 million on revenue of $11 billion.

"Our earnings are invested in our medical practice, education and research, along with our employees and our communities," Mayo Clinic CFO Dennis Dahlen said in a statement. "It's also vital to invest in the financial security of our staff and to equip them with technology and infrastructure to best serve our patients."

Mayo ended 2017 with an operating margin of 5.9 percent, up from 4.3 percent in the year prior.

On Tuesday, the system announced Mayo Clinic President and CEO John Noseworthy, MD, will retire at the end of 2018, ending a nine-year tenure.

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