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Financial turnaround for South Carolina-based Providence Hospitals

The State, April 30, 2008

Columbia, SC-based Sisters of Charity Providence Hospitals has announced it posted a profit in 2007, the first time it has done so since 2004. Providence finished 2007 with a $5.7 million profit versus a loss of $1.4 million the previous year, and a $2.4 million loss in 2005. The turnaround was accomplished by improving the hospital's financial operation, controlling costs and making staffing adjustments, said officials.