City of Hope's expenses up over 50% as it still absorbs CTCA buy

The acquisition of Cancer Treatment Centers of America continues to cost Duarte, Calif.-based City of Hope as the health system reported the purchase played a significant role in its expenses rising by 53 percent in the final quarter of 2022.

While overall expenses rose from approximately $700 million in the same period in 2021 to total $1.07 billion for the three months ending Dec. 31, the CTCA acquisition accounted for $235.9 million of the $371.5 million increase, or approximately 63 percent.

City of Hope, which is rebranding the CTCA name under its own banner, reported operating income of $92.7 million in the quarter compared with $85.8 million in the same period in 2021.

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