Evanston, Ill.-based Endeavor Health, formerly known as NorthShore-Edward-Elmhurst Health, reported a $51.3 million operating loss (-0.9% margin) in 2023, down from a $26.7 million loss (-0.5% margin) in 2022, as legal and integration costs hindered its financial performance.
Endeavor, Illinois' third-largest health system, spent $11.4 million on integration costs in 2023, compared to $40.9 million in 2022, according to financial documents published April 24. It also agreed to pay a $55 million settlement to resolve antitrust allegations raised after NorthShore's acquisition of Highland Park (Ill.) Hospital in 2000.
Excluding the integration and legal expenses, Endeavor reported a $17.7 million operating gain in 2023.
Revenue for the nine-hospital system increased 4.8% year over year to $5.6 billion while expenses rose 4.8% to $5.58 billion. Labor costs increased 4.9% to $3.1 billion and supply costs grew by 2.4% to $1.9 billion.
After factoring in nonoperating items, such as investment returns, Endeavor reported a net income of $470.2 million in 2023, compared to a net loss of $734.4 million in 2022.