Orlando (Fla.) Health grew to a $10 billion organization in fiscal 2025 and posted a $345.7 million operating gain (3.5% margin) for the year ended Sept. 30 — down from the $525.1 million operating gain (7.3% margin) it reported the year prior.
Six things to know:
1. Orlando Health’s annual revenue rose nearly 38% year over year to $9.9 billion, driven by two major acquisitions completed in late 2024. These included a $963.5 million deal for Birmingham, Ala.-based Brookwood Baptist Health System and a $439 million purchase of three Florida hospitals from Steward Health Care.
2. Net patient service revenue increased 37.8% year over year to $8.5 billion. Total annual admissions rose 35%, and total outpatient visits jumped 43%, according to financial documents published Nov. 25.
3. Total operating expenses increased 44% to $9.6 billion, primarily due to the added cost structure from the acquisitions and higher labor and supply expenses. Salaries and benefits totaled $4.7 billion, while supply costs hit $2.1 billion.
4. After accounting for nonoperating items, such as $405 million in investment income, Orlando Health reported $727.5 million in net income for the year, down from $1.1 billion in fiscal 2024.
5. The system ended the fiscal year with $917.4 million in cash and cash equivalents. Capital expenditures included $1.1 billion in construction projects, with $1.4 billion more planned, primarily for emergency departments, bed towers and medical pavilions.
6. As of Sept. 30, 2025, Orlando Health had long-term debt of $4.1 billion and total net assets of $7.3 billion.
