Monday, July 14, 2008

Catholic Health Initiatives largest Catholic hospital system in U.S.

Catholic Health Initiatives, the parent company of Penrose-St. Francis Health Services, was the largest Catholic hospital in the nation last year, according to Modern Healthcare magazine.

The system operates 72 hospitals in 19 states, including Colorado, and runs Centura Health through a joint operating agreement with PorterCare Adventist Health System.

Health care systems were ranked by ownership type and size. Catholic Health Initiatives was No. 6 in the ranking by patient revenue, at $7.21 billion, up from $6.83 billion in 2006. The hospital system's net operating income increased to $359.6 million in 2007, up from $282.9 million in 2006. Total assets rose to $11.38 billion from $9.57 billion the previous year.

Nationwide, revenue from patient care at hospitals grew 8.4 percent in 2007. Hospital system profits increased by 23.8 percent.

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