Here are six things to know:
1. Net income for Nuvance was $38.6 million for the three months ended Sept. 30, 2024, up from an $18.5 million net loss for the three months ended Sept. 30, 2023.
2. Nuvance’s total revenue was $741.4 million for the three months ended Sept. 30, 2024, a 12% increase from $659.8 million for the same time period in 2023.
3. Total expenses for Nuvance were $726.4 million for the three months ended Sept. 30, 2024, up 8% from $673 million for the same period in 2023.
4. Nuvance had 91.97 days of cash on hand and long-term debt for the system was $945 million on Sept. 30, 2024.
5. Nuvance also reported an operating loss of $80.7 million (-3% margin) for FY 2024, an improvement from an operating loss of $123.6 million (-5% margin) in FY 2023. Revenue for the system was $2.7 billion and expenses were $2.8 billion in FY 2024. The system saw a net loss of $7.4 million in FY 2024, up from an $84 million loss in FY 2023.
6. New Hyde Park, N.Y.-based Northwell Health and Nuvance received approval in early September from New York State for a merger that would create a nonprofit regional system. It is now waiting for Connecticut’s regulatory approval.
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