Another hospital operator reports millions in profits

Vanguard Health Systems saw net income soar, with a profit of $19.3 million for the fourth quarter of fiscal year 2012, compared to a net loss of $11.0 million in last year's fourth quarter, according to its earnings report released yesterday.

The Nashville, Tenn., system credits the gain to a lower-than-expected effective income tax rate, as well as its acquisition of Valley Baptist Health System in September 2011. Vanguard joins other Tennessee hospital operators, including Tenet Healthcare and HCA, reporting strong results for the quarter ended June 30, 2012. Announcement