Orlando (Fla.) Health saw its financial picture improve in the third quarter of fiscal year 2018, according to recently released bondholder documents.
In the quarter ended June 30, Orlando Health recorded revenue of $1 billion, up from $690.2 million in the same period the year prior. The increase was partially attributable to higher net patient service revenue, which climbed 59 percent year over year.
Orlando Health also saw expenses rise in the third quarter of 2018, from $612.1 million to $898.1 million.
The system, which has seven acute care hospitals and two affiliated/joint venture hospitals, ended the third quarter of 2018 with operating income of $117.9 million, up 51 percent from the $78.1 million recorded in the same period of 2017.
After considering investment income of $4.8 million and other nonoperating gains, Orlando Health recorded net income of $124.7 million in the quarter ended June 30, up from $101.7 million recorded in the third quarter of 2017.
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