The $41 million deficit was despite improved revenues for the three months ending Sept. 30, 2022, of $1.78 billion compared to $1.63 billion in the same period last year.
While salary costs climbed 14 percent to $830 million for the quarter compared to the same period in 2021, materials and supply costs rose almost 10 percent to total $676 million. Investment losses also contributed significantly to quarterly performance with a net loss totaling $75 million related to future capital and operating needs.
Cedars-Sinai last month joined a $31 million funding round for Vita Therapeutics, a company that uses genetics to develop new cellular therapies to treat muscular dystrophy and cancer.
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