Medical Facilities Corp. reported a revenue increase during the first quarter of 2021.
Five notes:
1. Total revenue and income was up 5.8 percent to $98.1 million. Facility service revenue hit $94 million, a 1.2 percent increase over the same period last year.
2. Adjusted EBITDA jumped 35.4 percent year over year to $25.1 million.
3. The company received $4.1 million of government stimulus income in the quarter.
4. Medical Facilities' quarterly net income dropped 29.4 percent to $10.3 million.
5. The company has ownership in four surgical hospitals and an ASC. Through its partnership with NueHealth, Medical Facilities has controlling interest in five additional ASCs.