Oakland, Calif.-based Kaiser Permanente said operating revenue for its nonprofit health plans and hospitals increased 11.1 percent year over year to $18.1 billion in the first quarter of 2017, according to unaudited financial documents.
Here are five things to know.
1. Kaiser said operating income for the first quarter ended March 31 climbed to more than $1 billion, up from $701 million in the first quarter of 2016.
2. The organization said its $1.8 billion acquisition of Seattle-based Group Health Cooperative in February contributed $18 million in operating income on $709 million of revenue.
3. Kaiser grew its health plan membership to 11.8 million as of March 31, up from 10.7 million recorded December 31, 2016.
4. The organization raised $4.4 billion in bonds earlier this month. Kaiser said the "proceeds will be used for capital projects, general corporate purposes and to redeem $1.4 billion of existing debt," according to the documents.
5. Kaiser's first quarter net income more than tripled year over year to $1.6 billion, up from $504 million recorded in the same period in 2016.