A number of healthcare and hospital systems detailed their levels of debt when reporting financial results in February. Here is a summary of some of those systems' reports, including debt totals calculated by ratings agencies:
- Sioux Falls, S.D.-based Avera Health said it had long-term debt at the end of 2022 totaling $616 million. The hospital system, one of the largest in the country operating 37 hospitals, reported a net loss of $7.1 million for the six months ending Dec. 31.
- Memphis, Tenn.-based Baptist Memorial Health revealed long-term debt totaling $825.4 million as of Dec. 31 when it reported a $45 million operating loss in its latest quarter.
- CommonSpirit Health, one of the largest health systems in the country, held $14.6 billion in debt as of Dec. 31, the Chicago-based system revealed when it reported an operating loss of $451 million in the six-month period ending Dec. 31.
- Franklin, Tenn.-based Community Health Systems, one of the largest for-profit health systems, recorded long-term debt of $11.6 billion as of Dec. 31 when it reported $179 million in net income in 2022.
- Dartmouth Health reported long-term debt of $1.1 billion as the Lebanon, N.H.-based health system revealed a $78 million operating loss for the six months ending Dec. 31.
- Duke University Health reported indebtedness of approximately $1.5 billion when it revealed an operating loss of almost $70 million in the second half of 2022.
- Danville, Pa.-based Geisinger Health System has approximately $1.3 billion of debt outstanding, Moody's said when the rating agency downgraded bonds the system holds amid expectations of weak operating cash flow.
- Albuquerque, N.M.-based Presbyterian Healthcare Services said it had $1.1 billion of debt when it reported an overall loss of $370.7 million in 2022 amid significant declines in its investment values.
- Sioux Falls, S.D.-based Sanford Health said it had total debt of $1.53 billion as of Dec. 31 when it reported an overall $339.2 million loss largely due to investment value declines. Sanford is due to merge with Minneapolis-based Fairview Health Services at the end of May.
- For-profit Tenet Health reported $14.9 billion of long-term debt when the Dallas-based system revealed net income of $410 million for the year Feb. 9.
- Louisville, Ky.-based UofL Health had $559 million of total debt at the end of fiscal 2022, Fitch Ratings calculated Feb. 24, describing such debt as higher than average.
- Pittsburgh-based UPMC said it had a total of $5.5 billion in outstanding debt as of Dec. 31 when it reported almost $1 billion in losses in 2022.