New York City-based Mount Sinai Health System, which operates six hospitals and a medical school in the city and surrounding area, reported a net loss of $241 million for the nine months ending Sept. 30 even as its operating income was positive.
While the group revealed an excess of operating revenue over expenses of $163 million, investment losses and a transfer to affiliate the Icahn School of Medicine at Mount Sinai resulted in the overall loss, which compares with a $259.1 million gain in 2021 for the same period.
Mount Sinai Health System consists of the Mount Sinai Hospital (two locations), Beth Israel Medical Center, St. Luke's-Roosevelt Hospital Center, the New York Eye and Ear Infirmary and South Nassau Communities Hospital, as well as the Icahn School of Medicine at Mount Sinai.
The two Mount Sinai Hospital locations had their debt ratings confirmed as an "A" grade with stable outlook Nov. 16 by Fitch Ratings.