Westworld Community Healthcare Inc. Thursday reported sharply improved revenues and net earnings for the fourth quarter and year ended Dec. 31.
The Lake Forest operator of rural hospitals posted fourth quarter net earnings of $882,000, up 57% from $561,000 a year earlier. Revenues for the quarter totaled $40.9 million, up 120% from $18.6 million a year earlier.
For the year, Westworld had net earnings of $3.5 million, up 94% from $1.8 million the prior year. Revenues for the year were $133.2 million, up 163% from $50.5 million a year earlier.
Westworld's rapid expansion during 1985 accounted for much of the revenues growth, said Glenn Caster, Westworld vice president. During the year, the company purchased or took over 18 hospitals, bringing the total it operates to 36. Over the next five years, he added, Westworld will acquire an additional 40 to 50 facilities.