Pharmacy News EU

FRANKLIN, Tenn.(BUSINESS WIRE) IASIS Healthcare LLC (IASIS?) today announced financial and operating results for the fiscal first quarter ended December 31, 2009.
Net revenue for the first quarter totaled $629.0 million, an increase of 12.0%, compared to $561.6million in the prior year quarter. Adjusted EBITDA for the first quarter totaled $71.7 million, an increase of 7.5%, compared to $66.7 million in the prior year quarter. A table describing adjusted EBITDA and reconciling net earnings from continuing operations to adjusted EBITDA is included in this press release in the attached Supplemental Consolidated Statements of Operations Information. Net earnings from continuing operations for the first quarter totaled $19.3 million, compared to $14.0million in the prior year quarter.
Admissions and adjusted admissions increased 4.6% and 3.3%, respectively, in the first quarter, compared to the prior year quarter. Net patient revenue per adjusted admission increased 3.7% in the first quarter, compared to the prior year quarter.
In commenting on the first quarter results, David R. White, chairman and chief executive officer of IASIS Healthcare, said, We are pleased to announce another quarter of solid revenue and EBITDA growth. We believe these results further validate the strength of our integrated approach to operational excellence, strategic growth and financial stewardship.?
A listen-only simulcast and 30-day replay of IASIS first quarter conference call will be available by clicking the For Investors? link on the Company’s Web site at www.iasishealthcare.com beginning at 11:00a.m. Eastern Time on February 11, 2010. A copy of this press release will also be available on the Company’s Web site.
IASIS, located in Franklin, Tennessee, is a leading owner and operator of medium-sized acute care hospitals in high-growth urban and suburban markets. The Company operates its hospitals with a strong community focus by offering and developing healthcare services targeted to the needs of the markets it serves, promoting strong relationships with physicians and working with local managed care plans. IASIS owns or leases 15 acute care hospital facilities and one behavioral health hospital facility with a total of 2,848 beds in service and has total annual net revenue of approximately $2.4 billion. These hospital facilities are located in six regions: Salt Lake City, Utah; Phoenix, Arizona; Tampa-St. Petersburg, Florida; three cities in Texas, including San Antonio; Las Vegas, Nevada; and West Monroe, Louisiana. IASIS also owns and operates a Medicaid and Medicare managed health plan in Phoenix that serves more than 198,000 members. For more information on IASIS, please visit the Company’s Web site at www.iasishealthcare.com.
Some of the statements we make in this press release are forward-looking within the meaning of the federal securities laws, which are intended to be covered by the safe harbors created thereby. Those forward-looking statements include all statements that are not historical statements of fact and those regarding our intent, belief or expectations including, but not limited to, future financial and operating results, the Company’s plans, objectives, expectations and other statements that are not historical facts. Forward-looking statements involve known and unknown risks and uncertainties that may cause actual results in future periods to differ materially from those anticipated in the forward-looking statements. These risk factors and uncertainties are more fully described in the Company’s Annual Report on Form 10-K for the fiscal year ended September 30, 2009 and other filings with the Securities and Exchange Commission.
Although we believe that the assumptions underlying the forward-looking statements contained in this press release are reasonable, any of these assumptions could prove to be inaccurate, and, therefore, there can be no assurance that the forward-looking statements included in this press release will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, you should not regard the inclusion of such information as a representation by the Company or any other person that our objectives and plans will be achieved. We undertake no obligation to publicly release any revisions to any forward-looking statements contained herein to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events.