St. Louis-based BJC Health System reported a $454.5 million operating income (3.8% margin) in 2025, up from a $325.6 million operating income (3% margin) the previous year, according to its most recent financial report.
BJC merged with Kansas City, Mo.-based Saint Luke’s Health System in January 2024. The 24-hospital organization rebranded as BJC Health in late 2025.
Six things to know:
1. BJC’s net income was $1.5 billion in 2025, down from $2.6 billion in 2024.
2. Total revenue for BJC was $12.1 billion in 2025, up from $10.7 billion in 2024, and total expenses were $11.6 billion, up from $10.4 billion the previous year.
3. BJC’s long-term debt was $2.8 billion on Dec. 31, 2025, up from $2.3 billion the previous year.
4. BJC’s merger with Saint Luke’s in 2024 brought $3.5 billion in assets into the combined organization.
5. BJC’s board of directors froze its pension plan in April 2025, which will go into effect Dec. 31, 2030, and employees will stop accruing new benefits after that date. No new employees were enrolled after July 1, 2025. BJC’s pension plan has a $310.8 million funding gap, which is improved from its $440.5 million gap in 2024. The freeze reduced the projected benefit obligation by $130.7 million, though it did not create a one-time earnings gain.
6. BJC restructured its long-standing academic partnership with Washington University and entered a new affiliation agreement that runs through 2069. The health system increased its annual payments to the university from $196.4 million in 2024 to $416.7 million in 2025. It also committed an additional $335 million to support the academic mission at Washington University, which will be paid in equal installments through 2031. Neither party can leave the agreement without cause.
