Highly levered health systems are looking to sell hospitals, facilities or business lines to reduce their debt leverage and secure long-term sustainability, which creates significant growth opportunities for systems with balance sheets on a more solid financial footing.
Forty-three health systems ranked by their long-term debt:
Note: This is not an exhaustive list. The following long-term debt figures are taken from each health system’s most recent financial report.
1. HCA Healthcare (Nashville, Tenn.): $37.2 billion
2. CommonSpirit (Chicago): $15.3 billion
3. Tenet Healthcare (Dallas): $14.9 billion
4. Community Health Systems (Franklin, Tenn.): $11.5 billion
5. Kaiser Permanente (Oakland, Calif.): $10.6 billion
6. Providence (Renton, Wash.): $8.1 billion
7. Trinity Health (Livonia, Mich.): $6.8 billion
8. UPMC (Pittsburgh): $6.6 billion
9. Ascension (St. Louis): $6.1 billion
10. Mass General Brigham (Boston): $5.5 billion
11. Universal Health Services (King of Prussia, Pa.): $4.7 billion
12. Banner Health (Phoenix): $4.4 billion
13. Cleveland Clinic: $4.3 billion
14. Bon Secours Mercy Health (Cincinnati): $4.2 billion
15. Mayo Clinic (Rochester, Minn): $4.1 billion
16. Intermountain Health (Salt Lake City): $3.8 billion
17. Baylor Scott & White (Dallas): $3.8 billion
18. NYU Langone (New York City): $3.1 billion
19. Advocate Health (Charlotte, N.C.): $2.9 billion
20. IU Health (Indianapolis): $2.3 billion
21. Stanford Health Care (Palo Alto, Calif.): $2.3 billion
22. Orlando (Fla.) Health: $2.7 billion
23. Montefiore (New York City): $2 billion
24. BJC HealthCare (St. Louis): $1.9 billion
25. Christus Health (Irving, Texas): $1.9 billion
26. MedStar Health (Columbia, Md.): $1.8 billion
27. ProMedica (Toledo, Ohio): $1.8 billion
28. Northwestern Medicine (Chicago): $1.7 billion
29. Geisinger (Danville, Pa.): $1.7 billion
30. Allina Health (Minneapolis): $1.7 billion
31. OSF HealthCare (Peoria, Ill.): $1.7 billion
32. Norton Healthcare (Louisville, Ky.): $1.6 billion
33. Beth Israel Lahey Health (Cambridge, Mass.): $1.6 billion
34. SSM Health (St. Louis): $1.6 billion
35. Scripps Health (San Diego): $1.5 billion
36. Henry Ford Health (Detroit): $1.4 billion
37. Sanford Health (Sioux Falls, S.D.): $1.4 billion
38. Prisma Health (Greenville, S.C.): $1.4 billion
39. Allegheny Health Network (Pittsburgh): $910.5 million
40. HonorHealth (Scottsdale, Ariz.): $898.7 million
41. Sharp HealthCare (San Diego): $866.5 million
42. Premier Health (Dayton, Ohio): $850 million
43. Tufts Medicine (Boston): $782.3 million