Revenue increased 10.3% year over year to $3.1 billion while expenses decreased 8.7% to $3 billion, according to financial documents published Nov. 25.
After accounting for nonoperating items, such as investment income, net income for the health system in FY 2024 was $364.8 million, compared to $197.6 million in FY 2023.
Days cash on hand increased to 202 in FY 2024, up from 178. Long-term debt was $754.9 million as of Sept. 30, 2024.
Risant Health, a nonprofit formed under Oakland, Calif.-based Kaiser Permanente, plans to acquire Cone Health after entering into a definitive agreement with the health system in June. Risant acquired Danville, Pa.-based Geisinger earlier this year and plans to acquire about four other health systems across the U.S.
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