R & V Associates

Grant Building, Suite 1120 | 310 Grant Street | Pittsburgh, PA 15219 | Phone: 412.434.6300 | Fax: 412.434.6333

Wheeling Hospital

 


 
R & V was engaged by Wheeling Hospital in January 2006 to assist in the hospital’s financial turnaround, having lost $55 million from operations in the seven years preceding the engagement.  The hospital lost $9 million from its operations for the fiscal year ending immediately prior to R & V’s engagement.  In the eighteen months following R & V’s engagement, the hospital’s operations realized a profit of $10 million and cash-on-hand increased from nearly zero to $12 million.  R & V continues to provide services to Wheeling Hospital resulting in a turnaround of $89 million in net operating profits through 2010.  Additionally through 2010, the hospital has realized nearly $100 million in cash from operations and increased corporate net assets 35 percent as a result of R & V’s expertise.  The hospital continues to grow with the recruitment of multiple physician specialists and subspecialists and construction of a new 145,000 square foot seven story medical tower which broke ground in February 2010 and is expected to be completed in 2012.  The new tower will house a state-of-the-art emergency department, tripling its current space, trauma/resuscitation rooms, intensive care units, a pediatric center, physician offices and private patient rooms.