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Ascension hospitals transferring to Henry Ford have $3.4B annual revenues

The Ascension-owned Michigan hospitals transferring to Detroit-based Henry Ford Health had a total revenue of $3.4 billion in fiscal 2023 and operated at a loss, according to an Oct. 25 filing detailing the proposed transaction.

Total assets and net assets of the transitioning entities were valued June 30 at approximately $1.7 billion and $1.5 billion, respectively, the filing said.

In return for the transfer of ownership, St. Louis-based Ascension will own an undefined stake in Henry Ford Health, the filing said.

The transaction, which is still subject to regulatory requirements, involves Ascension Michigan hospitals in the southeast and central parts of the state.

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