Medical Facilities Corp. (MFC) has reported its financial results for the fourth quarter and year ended Dec. 31, 2010, highlighted by a 10.9 percent increase in facility service revenue for the quarter and 5.1 percent increase in facility service revenue for the year.
MFC owns controlling interests in four specialty surgical hospitals, located in South Dakota and Oklahoma, as well as an ASC in California.
"A strong increase in revenue generated by orthopedic and neurosurgical cases produced a record year for Medical Facilities, achieving the highest level of revenue and operating income in our history," said Dr. Donald Schellpfeffer, CEO of MFC, in a company news release.
Revenue for 2010 grew by $10.5 million (5.1 percent) to $217.9 million from $207.4 million during the same period a year ago. Revenue for the fourth quarter of 2010 increased to $64.4 million compared with $58.0 million in the fourth quarter of 2009.
Other highlights include a 5.7 percent increase in operating income for the year, and increases of 23.1 percent in operating income and 11 percent increase in operating income for the quarter compared to the same time periods a year ago.
Read the news release about the financial results for Medical Facilities.
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