The acquisition of Cancer Treatment Centers of America continues to cost Duarte, Calif.-based City of Hope as the health system reported the purchase played a significant role in its expenses rising by 53 percent in the final quarter of 2022.
While overall expenses rose from approximately $700 million in the same period in 2021 to total $1.07 billion for the three months ending Dec. 31, the CTCA acquisition accounted for $235.9 million of the $371.5 million increase, or approximately 63 percent.
City of Hope, which is rebranding the CTCA name under its own banner, reported operating income of $92.7 million in the quarter compared with $85.8 million in the same period in 2021.