New York City-based NYU Langone received $508 million in 2023 after settling a lawsuit against a construction contractor over losses suffered as a result of Superstorm Sandy.
NYU Langone Health settled its suit against Turner Construction in March for unrecovered business interruption losses from the 2012 storm, according to financial documents published Jan. 23. NYU Langone filed the lawsuit in 2015.
NYU Langone had also filed a lawsuit in 2014 against its then-commercial insurer, Factory Mutual Insurance Co., according to the report. That suit ended after a federal appellate court dismissed the health system's claims.
NYU Langone reported $686.2 million in operating income for the year ended Aug. 31, an 11% increase from the $619.2 million it reported in the previous year.