Northwestern Memorial Healthcare closed its merger with Winfield, Ill.-based Cadence Health in September 2014. Under the agreement, Northwestern Medicine, a fully integrated health system, was expanded to include four hospitals.
With the addition of Cadence’s assets, Northwestern reported a $1.78 billion gain on its balance sheet for the first quarter of fiscal 2015.
According to the combined balance sheet, Northwestern posted a $66.3 million operating surplus on total revenue of $937.8 million in the first quarter of fiscal 2015 compared to the $41.3 million operating surplus it posted on $616 million in revenue for the first quarter of fiscal 2014.
More articles on healthcare finance:
Bon Secours’ operating margin falls: 5 things to know
15 recent hospital rating and outlook changes, affirmations
5 hospital CFOs in the headlines this week
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.