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Format: 04/24/2014
Format: 04/24/2014

News

Pittsburgh Tribune-Review: West Penn Allegheny Health announces $7 million profit

Wednesday, March 3rd, 2010

By Luis Fabregas
PITTSBURGH TRIBUNE-REVIEW

West Penn Allegheny Health System announced today it posted a net profit of $7 million for the first half of this fiscal year, a $28.5 million improvement from the prior year.

The region's second largest hospital network posted operating losses of $6.4 million for the the period ending in December, officials said. Those losses were offset by a gain of $12.6 million in investment income.

"We are on the path from stability to security, becoming a stronger, more vibrant health system for the people of Western Pennsylvania," Dr. Chris Olivia, the system's CEO, said in a statement.

The recent numbers mark a significant improvement for West Penn Allegheny, which last month announced it eliminated 213 full-time jobs at its six hospitals and corporate offices. Officials said it is the third consecutive quarter in which the system posted a net profit.

Last year at this time, the system posted operating losses of $26.4 million.

 

 

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