Medical Facilities Corp. has reported its third-quarter earnings, highlighted by an increase in revenues of 4.2 percent and decline in losses over the prior year third quarter, according to industry reports and a company news release.
MFC, which owns controlling interests in four specialty surgical hospitals, located in South Dakota and Oklahoma, as well as an ASC in California, said its operating margin increased.
The company said the decision to divest its interest in California's Barranca Surgery Center should positively impact the future operating performance, according to comments in the news release from Donald Schellpfeffer, MD, CEO of MFC.
MFC also said it has completed expansion at Black Hills Surgical Hospital in Rapid City, S.D., adding two ORs and expanding common and support areas.
The company reported a net loss of $1.9 million, down from $2.3 million the prior year third quarter, with consolidated revenues of $51 million, up from $39 million.
Read the news release about the third quarter for Medical Facilities Corporation.
Learn more about Medical Facilities Corp.