The finances for the organization that oversees Pen Bay Medical Center, Waldo County General Hospital and related health care facilities in the Midcoast improved dramatically in 2017.

The financial statement for Coastal Healthcare Alliance for the 12 months ending Sept. 30, 2017, reported that the organization had $8.5 million more in revenues than expenses.

In fiscal year 2016, the organization had a $1.6 million loss.

MaineHealth said that it did not have a breakdown available on Pen Bay Medical Center and Waldo County individually for 2017. From 2014 through 2016, Pen Bay has lost a combined nearly $13 million, according to the Maine Health Data Organization, while Waldo County General has enjoyed a surplus of nearly $24 million.

The Coastal Healthcare Alliance Board voted 13-6 in December to merge with Portland-based MaineHealth. One of the reasons voiced in support for the merger was to allow the MaineHealth Board to shift resources where needed to support community health care.

MaineHealth oversees hospitals and other health care facilities in the state, with its flagship being Maine Medical Center in Portland. In addition to Pen Bay and Waldo County, the hospitals include Franklin Memorial Hospital in Farmington, Stephens Memorial Hospital in Norway, Miles Campus and Hospital in Damariscotta, St. Andrews in Boothbay Harbor, Southern Maine Healthcare in Biddeford and Sanford, and Memorial Hospital in North Conway, N.H. Maine Behavioral Health is also a member of MaineHealth, as is the clinical laboratory NorDx in Scarborough.

The merger is expected to take effect in January 2019.

The 2017 financial statement for Coastal Healthcare Alliance reported that the organization had operating expenses of $242.2 million with operating revenues of $242.5 million, resulting in an operating surplus of about $300,000.

The organization also reported non-operating income of nearly $8.2 million to bring the overall surplus to $8.5 million.

Coastal Healthcare provided $12.7 million in charity care for 2017. In addition, there was bad debt of $14.7 million. The amount of charity care provided was an increase of $927,000 from 2016.

Salaries and wages for the organization totaled $112.8 million. Coastal Healthcare spent $87.5 million on supplies.