Intermountain's net income hits $2.7B

Intermountain Healthcare saw its revenues increase in the first half of this year, and its merger with SCL Health fueled a significant increase in net income, according to recently released financial documents

The financial documents are the first Intermountain has filed since completing a merger with Broomfield, Colo.-based SCL Health in April. 

For the six months ended June 30, the 33-hospital system reported revenues of $6.5 billion, up 25 percent from $5.2 billion in the same period a year earlier. The health system's expenses totaled $5.9 billion in the first half of this year, up 31 percent from $4.5 billion in the first half of 2021. 

Intermountain ended the first two quarters of this year with operating income of $288 million, down from $461 million in the same period last year. 

After incorporating nonoperating income, including a $4.1 billion contribution from its merger with SCL Health, Intermountain ended the first six months of this year with net income of $2.7 billion. In the first two quarters of 2021, the health system's net income totaled $1.9 billion. 

Intermountain named Lydia Jumonville interim CEO on Aug. 19, about a week after announcing the departure of Marc Harrison, MD. Ms. Jumonville served as president and CEO of SCL Health before the system merged with Intermountain.

Copyright © 2022 Becker's Healthcare. All Rights Reserved. Privacy Policy. Cookie Policy. Linking and Reprinting Policy.

 

Featured Whitepapers

Featured Webinars