Hospital chain Iasis Healthcare reported second-quarter profits from continuing operations of $1.6 million, down from $21.7 million. Revenues rose 13 percent to $719 million, although insurance premiums fell 5 percent.
The big drop in earnings was due primarily to a $23.1 million one-time loss Iasis took on the retirement of some debt as part of a $1.3 billion refinancing package . Adjusted EBITDA from the company’s hospital operations rose to $63.7 million  from $62.7 million as same-store admissions were up 0.9 percent, while its insurance division produced adjusted EBITDA of $18.0 million, up from $14.0 million a year ago.
“We remain committed to implementing operational and strategic initiatives that we believe will ensure long-term success in a new era of healthcare delivery,” said President and CEO Carl Whitmer. “We also are excited about the integration and growth opportunities arising from our recent hospital acquisitions.”