For the quarter ended March 31, revenue jumped 77 percent from $661.5 million to $1.52 billion. The hospital operator attributed the increase to its 2011 acquisitions, including the Jan. 1 acquisition of eight-hospital Detroit Medical Center.
Vanguard plans to move forward with its proposed $600 million initial public offering, which it filed for last month with Securities and Exchange Commission.
Read the Detroit News report on Vanguard Health Systems.
Related articles on Vanguard Health Systems:
Vanguard Plans to Sell Up To $600M in IPO
Vanguard Health Systems Cuts Corporate Workforce by 10%
Detroit Medical Center to Assess Distribution of $150M of Charitable Assets After Sale to Vanguard
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.
