El Camino Health follows rating upgrades with $141.4M operating gain

Mountain View, Calif.-based El Camino Health has reported an operating gain of $141.4 million for the nine months ending March 31 on revenue of just over $1 billion.

Those figures compare with an operating gain of $168.8 million on revenue of $966 million for the same period ending March 31, 2022.

The financials follow a March 8 credit rating upgrade from Moody's, which noted the system's "superlative cash metrics and operating performance." Fitch Ratings also revised El Camino Health's outlook to positive Feb. 27.

El Camino Health's expenses did increase 10.6 percent over the previous year, totaling $881.9 million.

Investment income of $76.3 million also boosted the results, comparing with a loss of $61.4 million for the same period last year.

The health system, which operates two campuses at Los Gatos and Mountain View with a total of 454 beds, also operates 11 outpatient clinics in an affluent area.

Copyright © 2023 Becker's Healthcare. All Rights Reserved. Privacy Policy. Cookie Policy. Linking and Reprinting Policy.


Featured Whitepapers

Featured Webinars