Hollywood, Fla.-based Memorial Healthcare System recorded operating income of $220.7 million (5.8% margin) in fiscal 2026, up from $137.6 million (3.9% margin) the year prior, according to its Aug. 18 financial report.
Six things to know:
1. Total operating revenue was $3.8 billion for the 12 months ended April 30, up 7.7% year over year. Net patient service revenue increased 6.7% to $3.4 billion and other operating revenue rose 29.8% to $370.7 million.
2. Total operating expenses were $3.6 billion, up 5.6% year over year. Salaries, wages and employee benefits totaled $2 billion, a 1.2% increase year over year. Supplies expenses increased 18% to $871.8 million.
3. Memorial said in a Sept. 8 news release that outpatient visits increased 5.7% year over year and patient acuity continued to increase as more patients sought advanced specialty care across the system’s nationally recognized cancer, cardiac, neuroscience and pediatric programs.
4. Current capital investments at the health system include a $670 million surgical tower at Memorial Regional Hospital, two new freestanding emergency rooms, and a new Memorial Cardiac and Vascular Institute building at Memorial Hospital West.
5. Memorial reported a record $487.6 million net income in fiscal 2026, a 20.3% increase year over year.
6. “These financial results position Memorial to continue expanding access to care, investing in our workforce, advancing medical innovation and ensuring our community has access to world-class healthcare for generations to come,” Memorial Healthcare System President and CEO Shane Strum said in the release. Mr. Strum was named to the role permanently in early September. He held the role on an interim basis from 2024 while also leading Fort Lauderdale, Fla.-based Broward Health. He also continues to serve as president and CEO of Broward Health, a role he has held since 2021. He is the first person to lead both taxpayer-funded districts simultaneously.
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