CommonSpirit Health keeps adding more hospitals — and billions in new debt — even as it bleeds money.
Formed through a 2019 merger and headquartered in Chicago, CommonSpirit is one of the country’s largest not-for-profit health systems, with north of 140 hospitals. Even though it has scale, the system has lost money almost every year since its inception, including $2.7 billion on operations in the past two years. CommonSpirit’s latest financial statement also shows its total debt grew $2.9 billion in the year that ended June 30.
advertisement
“They are not doing well, despite this mega-merger, but they’re doubling down,” said Ge Bai, an accounting and health policy professor at Johns Hopkins University. “They keep trying to merge.”
Get unlimited access to award-winning journalism and exclusive events.
Subscribe Log In
Previous article：
Maui wildfire now ranks as the fifth
Next article： Activists slam private health insurers over coverage restrictions
Next article： Activists slam private health insurers over coverage restrictions
