By: Bradley A. Clark, M.B.A., Executive Vice President and Chief Financial Officer,
Wake Forest Baptist Health
Re: FY20 Q1 Financial Performance
Wake Forest Baptist Health released its first quarter report on operating performance and operating statistics for fiscal year 2020 (FY20) today highlighting growth in services and the addition of High Point Medical Center.
For the three-month period (July 1, 2019 – Sept. 30, 2019), total net revenues of $898 million were 16.2% higher than the prior year.
Unrestricted net assets increased by $11.1 million for the three-month period. This gain is comprised of operating income of $8.9 million (1.0% operating margin) and net non-operating gains of $2.1 million.
The balance of the report with accompanying financial statements can be found at the Municipal Securities Rulemaking Board.