GREAT NEWS – NURSING HOME EARNS $450 MILLION In 2007

I wish this were a joke…

Nursing Home Operator Sun Beats Expectations
By Vita Reed
Orange County Business Journal Staff

Nursing home and medical staffing company Sun Healthcare Group Inc. of Irvine California reported a fourth-quarter profit from continuing operations that beat analysts’ expectations.

The Irvine-based health services company, which has nursing home, rehabilitation, hospice and medical staffing arms, posted a profit of $8.8 million, up 38% from a year earlier.
Wall Street expected Sun to make $8.2 million.

With charges, Sun made $6.5 million in the quarter.
Revenue was up 74% to $450.5 million. Analysts expected Sun to do $445.1 million in the quarter.

WOW- that is great news. $8.8 Million in profits – instead of cashing it out in dividends, the Nursing Home Chain could do the following:

  • Hire 117 More Directors of Nursing (RNs) making $74,000 a year
  • Hire 440 More Certified Nursing Assistants making $10 an hour

or

  • 44,000 hours of legal defense work at $200 an hour (for when their facilities get sued for providing bad care, becuase they scrimpted on staff, to make money for their shareholders)…
Lauren Ellerman
Lauren Ellerman

In 2011, Lauren Ellerman was named "Young Lawyer of the Year" by the Roanoke Bar Association for her work in the community. To speak with Lauren about your personal injury case, contact her at lellerman@frithlawfirm.com.