Noseworthy: Mayo Clinic has "strong financial performance" in 20 - KTTC Rochester, Austin, Mason City News, Weather and Sports

Noseworthy: Mayo Clinic has "strong financial performance" in 2016

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ROCHESTER, Minn. (KTTC) -

Mayo Clinic had a busy 2016, from regaining the coveted No.1 Hospital ranking, to developments with Destination Medical Center. 

Clinic leaders said in the annual financial statement released Monday morning that the hospital's finances are in good shape, despite a slightly lower income than in 2015. 

Mayo Clinic finished 2016 with $475 million in income for current activities, which is reinvested in Mayo's practice, research and education. That's about $50 million less than the 2015 mark, but $80 million more than in 2012. 

Revenue grew just less than 7 percent to $11 billion, and the clinic spent more than $600 million in new equipment, and electronic health record and security upgrades. 

A big part of Mayo Clinic is the research, which the clinic spent $1 billion on last year, with more than half of that funded directly by Mayo.

Mayo Clinic CEO Dr. John Noseworthy calls 2016 a "strong financial performance" that will allow Mayo to "retain the best talent, and invest in technology."

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