CHE Trin­ity re­ports 28% drop in in­come

Modern Healthcare - - REGIONAL NEWS - —Bob Her­man

Op­er­at­ing in­come at CHE Trin­ity Health dropped 28% in the first nine months of fis­cal 2014 as the Livo­nia, Mich.-based Catholic sys­tem ab­sorbed charges re­lated to its merger and over­val­ued property.

CHE Trin­ity of­fi­cially merged last May, com­bin­ing Trin­ity Health and Catholic Health East into a sys­tem with 80-plus hos­pi­tals. In the nine months ended March 31, ac­cord­ing to re­cently re­leased unau­dited fi­nan­cials, the or­ga­ni­za­tion tal­lied $24.9 mil­lion in costs re­lated to the con­sol­i­da­tion. Com­par­a­tively, merger ex­penses cost $9.4 mil­lion in the first nine months of fis­cal 2013.

The sys­tem also recorded a $32.7 mil­lion im­pair­ment charge, as it recorded the value of as­sets at East Nor­ri­ton, Pa.based Mercy Sub­ur­ban Hospi­tal, a 126bed hospi­tal within CHE Trin­ity’s Mercy Health Sys­tem. In to­tal, CHE Trin­ity’s op­er­at­ing sur­plus was $203.7 mil­lion, com­pared with the pro­forma fig­ure of $283.6 mil­lion in the same pe­riod of 2013.

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