Quorum's net loss shrinks to $16.9M in Q2

Quorum Health's revenue declined year over year in the second quarter of 2019, and the Brentwood, Tenn.-based hospital operator ended the second quarter with a net loss.

The 26-hospital system, a spinoff of Franklin, Tenn.-based Community Health Systems, said operating revenues declined 6.4 percent year over year to $442.2 million in the second quarter of 2019. Same-facility net patient revenues declined 2.6 percent year over year.

Quorum said the decrease in same-facility net revenues was partially attributable to a decline patient volumes and lower revenues at Watsonville (Calif.) Community Hospital and MetroSouth Medical Center in Blue Island, Ill. In June, Quorum signed a definitive agreement to sell 106-bed Watsonville Community Hospital. The company plans to close 314-bed MetroSouth Medical Center by the end of the third quarter.

After factoring in expenses and one-time charges, Quorum ended the second quarter of 2019 with a net loss of $16.9 million, compared to a net loss of $26.6 million in the same period a year earlier.

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