News Headlines Article

Medi-Cal sends CHW profits soaring
Sacramento Business Journal

Catholic Healthcare West scored a $630 million profit, thanks to a huge payback from Medi-Cal. The big-time boost is a one-shot deal that ends in December, but it propelled a dramatic turnaround from a $126 million loss the previous year. Revenue of the parent company of Mercy hospitals surged to $9.8 billion in the fiscal year ended June 30, compared to $9 billion the previous year. Its operating income dropped 13 percent to $227 million from $261 million.