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February 20, 2009
UPMC announces strong first-half Fiscal Year results
During the first half of Fiscal Year 2009, UPMC’s operating revenue grew 14 percent to $103 million — a slight increase from this time last year. The system’s operating earnings before interest, depreciation, and amortization (EBIDA) — a key measure of financial performance and the ability to generate resources for reinvestment — were $280 million.
"UPMC’s strong operating results and prudent financial management during the global financial crisis allow us to continue growing, providing outstanding patient care and reinvesting in the future of western Pennsylvania," said Robert A. DeMichiei, UPMC senior vice president and chief financial officer.
UPMC’s strong balance sheet, cash position, and “AA” credit rating enable it to continue investing in the future of the global health enterprise and western Pennsylvania, as well as in strategic business initiatives to generate future revenue and jobs growth.
To read the full press release, click here.