Intermountain's income hits $2.2B

Salt Lake City-based Intermountain Healthcare reported higher year-over-year net income for the nine months ending Sept. 30 after completing the acquisition of Broomfield, Colo.-based SCL Health on March 31.

Intermountain reported net income increased 1 percent year over year to $2.2 billion for the nine months ending Sept. 30, down from $2.7 billion at the six months ending June 30. The combined system includes 33 hospitals and 385 clinics in six states, and COO Rob Allen was promoted to CEO on Nov. 17 after former CEO Marc Harrison, MD, departed in August to lead General Catalyst's healthcare platform business.

Revenue hit $10.2 billion, up from nearly $8 billion over the same period last year. Employee compensation and benefits hit $4.3 billion, up from nearly $3 billion over the same period last year. Expenses overall increased from nearly $7 billion for the first nine months of 2021 to $9.5 billion for 2022.

Earnings before interest, depreciation and amortization was $749 million for the nine months ending Sept. 30, down from $974 million over the same period last year. Net cash provided by operating activities was $453 million as of Sept. 30, down from $609 million the same period last year.

Inpatient surgeries remained about the same for the first nine months of 2022 as in 2021, sitting at 36,152 for this year. Outpatient surgeries increased 4.2 percent to 138,419.

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