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Sutter Health is plotting an aggressive expansion in northern California that would add more than two dozen ambulatory care centers in the next four years, along with dozens of primary and multispecialty care sites.
The nonprofit system, based Sacramento, California, is targeting efforts on areas with access challenges and/or with growing demand for Sutter’s services, a spokesperson said. Sutter is working to increase access in multiple ways, such as extending hours of operation, adding entry points for care and investing in better technology, the spokesperson said.
In financial documents filed earlier this week, Sutter said it seeks to issue $750 million in bonds. The proceeds would fund the expansion and investments in improved digital capabilities to develop a more connected patient experience, the spokesperson said.
The health system is adding residents-in-training and has other growth initiatives underway. Last month, Sutter and Santa Barbara, California-based Sansum Clinic signed a letter of intent to merge their operations and expand primary and ambulatory care in the Central Coast region.
On the inpatient side, Sutter opened a three-story, $150 million tower at its Santa Rosa Regional Hospital a year ago, adding 40 beds to the facility.
Sutter, which serves more than 3 million patients across 22 counties, reported $198 million in first-quarter net income, compared with a $184 million loss in the year-ago period. In 2022, Sutter posted a $249 million net loss, including a $578 million loss on investments. The system invested $463 million in capital projects last year.
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