Three of the four largest publicly traded for-profit health systems are projecting net operating revenue growth in 2026.
Franklin, Tenn.-based Community Health Systems, which is projecting a revenue decline in 2026, has divested about 35% of its hospital portfolio since 2019. The system divested seven hospitals in 2025 and has completed the sale of four hospitals so far this year and has a pending sale that is expected to close in the second quarter.
Here are the revenue projections for HCA, Tenet, CHS and UHS in 2026:
HCA Healthcare (Nashville, Tenn.)
The 190-hospital system is projecting revenue between $76.5 billion and $80 billion in 2026.
HCA reported revenue of $75.6 billion in 2025.
The 50-hospital system is projecting revenue between $21.5 billion and $22.3 billion in 2026.
Tenet reported revenue of $21.3 billion in 2025.
Community Health Systems (Franklin, Tenn.)
The 65-hospital system is projecting revenue between $11.6 billion and $12 billion in 2026.
CHS reported revenue of $12.5 billion in 2025.
Universal Health Services (King of Prussia, Pa.)
The system, which operates 29 inpatient acute care hospitals and 346 behavioral health facilities, is projecting revenue between $18.4 billion and $18.8 billion in 2026.
UHS reported revenue of $17.4 billion in 2025.
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