News Headlines Article

Sutter Health’s 2011 net income falls almost 28 percent
San Francisco Business Times

Sutter Health, the 24-hospital nonprofit system that operates many of the Bay Area’s largest hospitals, saw net income last year fall 27.8 percent to $634 million, from $878 million the prior year, on comparable revenue, officials said Friday. Sutter’s operating revenue last year was $9.1 billion, up 3.4 percent from $8.8 billion in 2010. Sutter’s slumping profits were largely due to a $14 million investment loss in 2011, which also included “changes in net unrealized gains and losses from investments,” officials said, compared to 2010’s hefty $236 million net on investment income.