More health systems reported on their debt levels as increasing numbers of second-quarter results were reported in August. Some of the information below on such debt levels is also taken from credit rating reports.
1. Mayo Clinic reported nearly $4 billion of long-term debt when it released its first-half results.
The system generated almost $300 million in operating income on revenue of $4.5 billion in its second quarter.
2. Charlotte, N.C.-based Advocate Health revealed long-term debt of $989.3 million when it posted $85.7 million in operating income in the first half of 2023.
The 67-hospital system posted $15.2 billion in total revenue and $15.1 billion in total expenses in the first six months of the year.
3. Chesterfield, Mo.-based Mercy Health is possibly seeking to modify its existing debt profile, according to an Aug. 11 filing.
Such a move may include the issue of $375 million in new debt for the 42-hospital system, the filing noted.
4. Toledo, Ohio-based ProMedica has outstanding obligations totaling $453 million. The 11-hospital system has been seeking further extensions to existing covenant suspensions.
5. Palo Alto, Calif.-based Stanford Health is planning to take on $300 million of debt to finance various projects, according to an Aug. 18 filing.
The money would be used to fund the "acquisition, construction, expansion, remodeling, renovation, furnishing, and equipping of certain existing healthcare facilities," Stanford Health said.
6. Cleveland Clinic said it had long-term debt of $4.1 billion when it reported first-half results in late August.
The 23-hospital system reported a $21.4 million operating loss in the second quarter of 2023.
7. Sioux Falls, S.D.-based Sanford Health reported long-term debt totaling $1.5 billion when the system released first half of the year results.
Sanford Health reported an operating gain of $71.8 million on revenue of $3.6 billion.
8. Phoenix-based Banner Health said it had long-term debt of $4.5 billion when it posted $162.7 million in operating income in the first half of 2023.
The 30-hospital system reported an $87.2 million operating loss during the same period last year.
9. Care New England reported $141.1 million of long-term debt for a nine-month period ending June 30 as it revealed it was below compliance on its debt coverage obligations.
The Providence, R.I.-based system reported an operating margin of -1.76 percent for fiscal year 2023.
The three-hospital system said it had its fewest days' of cash on hand in the past few years, totaling 45.8.