Wake Forest Baptist Fiscal Year 2020 First Quarter Performance

November 26, 2019

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.

Media Contacts: 

Joe McCloskey, jmcclosk@wakeheath.edu, 336-716-1273

Paula Faria, pfaria@wakehealth.edu, 336-716-1279.