The long-awaited merger between Minneapolis-based Fairview Health and Sioux Falls, S.D.-based Sanford Health finally died July 27.
Since then, the two systems, which would have formed a 50-strong hospital network, have released their second-quarter financial results.
Here is a look at how they compared:
- Fairview Health posted a $41 million operating loss on $1.8 billion of revenue in the second quarter, down from a $95.2 million loss last year in the same period. Contract labor declines helped reduce some of the loss, but the system is on track to lose about $150 million on healthcare operations in 2023, bringing the system's combined operating loss over a five-year period to about $900 million. Overall income totaled $3.7 million.
- Sanford Health reported an operating gain of $71.8 million on revenue of $3.6 billion for the six months ending June 30. Expenses rose 2.9 percent in the first half of the year. Overall income totaled $121.8 million.
- Days' cash on hand totals were 133.5 for Sanford with long-term debt of $1.5 billion. Those Fairview numbers were not immediately available for comparison.
The original merger plans were announced in November. Sanford Health had planned to invest $500 million into the Fairview system but its CEO, Bill Gassen, said "without support for this transaction from certain Minnesota stakeholders we have determined it is in the best interest of Sanford Health to discontinue the merger process.”