Children's Hospital ended its most recent fiscal year with a $32.4 million in profits, a new record and up 12.1 percent from the previous year that ended in June 2005, President and Chief Executive Officer Roger A. Oxendale announced yesterday.
Total revenues at the pediatric hospital for the year ending June 30 reached $462.5 million, up 13.1 percent.
Mr. Oxendale presented the numbers during Children's annual meeting yesterday.
The hospital's robust performance comes on top of a record year for its parent, the University of Pittsburgh Medical Center, which earlier announced a 77 percent increase in profits, defined as the excess of revenues over expenses, to a record $512 million for fiscal 2006.
Children's new facility, a $575 million hospital and research center under construction at the former site of St. Francis Medical Center in Lawrenceville, is scheduled to open in 2009. The entire facility will be LEED-certified, meeting guidelines for energy efficiency and recyclable materials that will make it one of the first "green" pediatric hospitals in the country.