Fauquier Hospital in Warrenton, Va., saw a significant financial boost after joining for-profit Brentwood, Tenn.-based LifePoint Health, according to FauquierNow.com.
LifePoint acquired an 80 percent share of Fauquier Health, including the nonprofit hospital and other related assets, in 2013.
That same year, the hospital posted a profit of $7.9 million. The hospital's profit tripled over the next four years to $23.7 million in 2017, according to FauquierNow.com, which cites a Virginia Health Information report issued Feb. 5.
Its profit margin also climbed from 2.87 percent in 2013 to 17.9 percent in 2017.
During that period, the number of full-time equivalent staff members decreased from 771 to 631. Net revenue rose between 2013 and 2014, from $134.9 million to $163.7 million. It then went down in 2015, up slightly in 2016 and down in 2017.
The results come before LifePoint bought the remaining 20 percent share of Fauquier Health from the PATH Foundation last year, according to FauquierNow.com. LifePoint also last year was acquired by private equity firm Apollo Global Management for $5.6 billion including debt. As part of the deal, in November LifePoint merged with RCCH HealthCare Partners, which is owned by Apollo, and went private.
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