Hollywood, Fla. – September 11, 2026 -- Memorial Healthcare System reported $3.8 billion in operating revenue for fiscal year 2026, a 7.7% increase over the prior year, as the South Florida public health system posted its strongest financial results to date.
Operating income surges more than 60% to $220.7 million
Excess of revenues over expenses reached a record $487.6 million, up 20.3% year-over-year. Memorial's net position grew by more than $503 million, closing the fiscal year at $4.1 billion.
Hospital outpatient visits climb 5.7% amid rising patient acuity
Patients increasingly sought advanced specialty care through Memorial's cancer, cardiac, neuroscience and pediatric programs, pushing acuity levels higher across the system.
Executives tie financial strength to $670 million surgical tower and new facilities
Memorial is currently funding a $670 million surgical tower at Memorial Regional Hospital, two new freestanding emergency rooms, and the new Memorial Cardiac and Vascular Institute building at Memorial Hospital West. "Our financial performance gives us the ability to continue investing where it matters most," said Irfan Mirza, chief financial officer of Memorial Healthcare System.
System holds $3.5 billion in cash and investments, funds $9 million in daily payroll
Memorial invests over $9 million daily in salaries, supplies and services supporting more than 17,500 team members. The organization maintains investment-grade credit ratings of Aa3 from Moody's and AA from S&P.
Millage rate cut for 15th consecutive year as tax reliance stays minimal
Memorial uses minimal tax revenues solely to meet governmental obligations, including Broward County's Medicaid match, with no tax dollars supporting day-to-day hospital operations. The financial results supported the South Broward Hospital District Board of Commissioners' decision, approved in September 2025, to reduce the millage rate for the 15th straight year as part of the fiscal year 2026 budget.
Shane Strum, president and CEO of Memorial Healthcare System, said the results reflect purpose rather than profit, allowing continued investment in staff, programs and facilities while preserving care access regardless of patients' ability to pay.