VIRTUA HEALTH INC

EIN: 223524939 501(c)(3) Health Care

MARLTON, NJ

Total Revenue
$537,074,558
Total Expenses
$545,789,204
Total Assets
$782,838,547
Net Assets
$-312,424,381
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Financial Trends

Organization Details

Formation Year
1997
Legal Domicile
NJ
Principal Officer
DENNIS W PULLIN
Phone
8563550620
Tax Period
2023-01-01 to 2023-12-31

VIRTUA HEALTH INC, founded in 1997, is a major nonprofit in the Health Care sector that reported $537.1M in total revenue in fiscal year 2023. Revenue grew 20% year-over-year, indicating healthy expansion.

Mission

VIRTUA HEALTH, INC. (VIRTUA) IS A COMPREHENSIVE HEALTHCARE SYSTEM HEADQUARTERED IN MARLTON, NJ. ITS MISSION IS TO DELIVER A WORLD-CLASS PATIENT EXPERIENCE AND QUALITY HEALTH CARE FOR THE COMMUNITY THROUGH ITS RELATED ENTITIES. VIRTUA IS DEDICATED TO SUPPORTING ITS RELATED ENTITIES, SO EACH CAN PROVIDE PATIENTS AND THEIR FAMILIES WITH AN OUTSTANDING EXPERIENCE, AND TO ENSURE THE HIGHEST QUALITY HEALTHCARE FOR THE COMMUNITY. WE ARE COMMITTED TO SUPPORT OUR HEALTHCARE TEAM WITH RESOURCES, TECHNOLOGY AND TRAINING AS WELL AS WITH OPPORTUNITIES FOR PROFESSIONAL GROWTH.

Program Service Accomplishments

Program 1
Expenses: $428,245,544 Revenue: $496,336,960

VIRTUA HEALTH (VIRTUA) IS A HEALTHCARE SYSTEM THAT PROVIDES A COMPREHENSIVE RANGE OF SERVICES, PRIMARILY IN THE SOUTHERN NEW JERSEY REGION. IT IS THE MARKET SHARE LEADER IN ITS SERVICE AREA. VIRTUA...

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VIRTUA HEALTH (VIRTUA) IS A HEALTHCARE SYSTEM THAT PROVIDES A COMPREHENSIVE RANGE OF SERVICES, PRIMARILY IN THE SOUTHERN NEW JERSEY REGION. IT IS THE MARKET SHARE LEADER IN ITS SERVICE AREA. VIRTUA EMPLOYS OVER 14,000 COLLEAGUES DEDICATED TO PROVIDING HIGH QUALITY CARE TO THE RESIDENTS OF THE COMMUNITIES IT SERVES. VIRTUA IS COMMITTED TO ADVANCING HEALTH EQUITY AND DEMONSTRATING IMPROVED OUTCOMES THROUGH ITS INITIATIVES TO DELIVER EQUITABLE CARE. THE UNITED STATES DEPARTMENT OF HEALTH AND HUMAN SERVICES OFFICE OF DISEASE PREVENTION AND HEALTH PROMOTION HAS RECOGNIZED VIRTUA AS A HEALTHY PEOPLE 2030 CHAMPION FOR ITS INNOVATIVE MOBILE COMMUNITY HEALTH PROGRAMS.VIRTUA CONSISTS OF FIVE NEW JERSEY BASED HOSPITALS- VIRTUA MARLTON HOSPITAL (198 BEDS), AN ACUTE CARE HOSPITAL LOCATED IN MARLTON; VIRTUA MOUNT HOLLY HOSPITAL (383 BEDS), AN ACUTE CARE HOSPITAL LOCATED IN MOUNT HOLLY; VIRTUA OUR LADY OF LOURDES HOSPITAL (340 BEDS), A TERTIARY CARE HOSPITAL LOCATED IN CAMDEN; VIRTUA VOORHEES HOSPITAL (402 BEDS), AN ACUTE CARE HOSPITAL LOCATED IN VOORHEES; AND VIRTUA WILLINGBORO HOSPITAL (169 BEDS), AN ACUTE CARE HOSPITAL LOCATED IN WILLINGBORO. VIRTUA HAS BEEN RECOGNIZED NATIONALLY FOR ITS INNOVATIVE HOSPITAL AT HOME PROGRAM, WHICH COMPLIMENTS TRADITIONAL HOSPITAL FACILITY-BASED CARE BY PROVIDING, WHEN MEDICALLY APPROPRIATE, PATIENTS WITH THE OPPORTUNITY TO RECEIVE INPATIENT-LEVEL CARE IN THE COMFORT OF THEIR HOME. VIRTUA IS ALSO ONE OF JUST A FEW HEALTHCARE SYSTEMS IN ITS REGION THAT PERFORM ORGAN TRANSPLANTS. VIRTUA ALSO OPERATES TWO SATELLITE EMERGENCY DEPARTMENTS AT ITS FORMER ACUTE CARE HOSPITALS LOCATED IN BERLIN AND CAMDEN. IN AGGREGATE FOR THESE SITES AND THE HOSPITALS, IN 2023 INPATIENT ADMISSIONS EXCEEDED 73,000, EMERGENCY DEPARTMENT VISITS EXCEEDED 240,000, OUTPATIENT VISITS EXCEEDED 780,000, AND SAME DAY SURGICAL CASES EXCEEDED 24,000.VIRTUA ALSO PROVIDES OUTPATIENT SERVICES IN OFF-HOSPITAL CAMPUS SITES. THERE ARE SEVEN WELLNESS CENTERS WITH LOCATIONS IN BERLIN, CAMDEN, CHERRY HILL, MOORESTOWN, NEW HANOVER, VOORHEES, AND WASHINGTON TOWNSHIP. THESE CENTERS DELIVER A WIDE RANGE OF HEALTHCARE SERVICES, INCLUDING CARDIOLOGY, DENTAL CARE, FAMILY AND PRIMARY HEALTH CARE, LABORATORY TESTING, OCCUPATIONAL AND PHYSICAL REHABILITATION, ONCOLOGY, ORTHOPEDICS, RADIOLOGY, PEDIATRIC AND ADULT BEHAVIORAL CARE, SLEEP CARE, URGENT CARE, WOMEN'S SERVICES, AND WOUND CARE. VIRTUA ALSO HAS A CERTIFIED HOME HEALTH AGENCY.OVER FORTY PARTNERSHIPS HAVE BEEN ESTABLISHED BY VIRTUA WITH PHYSICIANS ACROSS NEW JERSEY, PENNSYLVANIA, AND DELAWARE. THESE PARTNERSHIPS OPERATE FREE STANDING AMBULATORY SURGICAL CENTERS. APPROXIMATELY 225,000 PROCEDURES WERE PERFORMED AT THESE CENTERS IN 2023.VIRTUA MEDICAL GROUP EMPLOYS CLOSE TO 1,500 CLINICIANS AT 400 LOCATIONS. SOME OF THE SPECIALTY AREAS OF EXPERTISE INCLUDE CARDIOLOGY, ENDOCRINOLOGY, GASTROENTEROLOGY, HEPATOLOGY, NEPHROLOGY, NEUROLOGY, NUTRITION, OBSTETRICS AND GYNECOLOGY, ONCOLOGY, ORTHOPEDICS, PRIMARY CARE, RHEUMATOLOGY, AND SURGERY. TOTAL PATIENT ENCOUNTERS EXCEEDED 1.9 MILLION IN 2023. VIRTUA ALSO LEASES PHYSICIANS FROM ROWAN UNIVERSITY. VIRTUA AND ROWAN UNIVERSITY, LOCATED IN SOUTHERN NEW JERSEY, HAVE AN AFFILIATION AGREEMENT TO CREATE THE VIRTUA HEALTH COLLEGE OF MEDICINE & LIFE SCIENCES OF ROWAN UNIVERSITY, WHICH WILL BE NEW JERSEY'S LARGEST MEDICAL SCHOOL AND INCLUDE NURSING AND ALLIED HEALTH EDUCATION, A NEW SCHOOL OF TRANSLATIONAL BIOMEDICAL ENGINEERING AND SCIENCES, NEW RESEARCH INSTITUTES, AND GRADUATE MEDICAL EDUCATION PROGRAMS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $34,484,245
Program Service Revenue $496,336,960
Investment Income $660,129
Other Revenue $5,593,224
TOTAL REVENUE $537,074,558

Expense Breakdown

Grants Paid $5,222,365
Salaries & Benefits $356,450,249
Fundraising Expenses $0
Program Expenses $428,245,544
Other Expenses $184,116,590
TOTAL EXPENSES $545,789,204

Year-over-Year Comparison

2023 2022 Change
Revenue $537,074,558 $448,633,936 +0.2%
Expenses $545,789,204 $447,032,433 +0.2%
Net Income $-8,714,646 $1,601,503 -6.4%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
18
Independent Members
17
Employees
2417
Volunteers
17

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
5
$5,666,093
Total Directors
18
$3,487,539
Key Employees
1
$905,052
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
DENNIS W PULLIN PRESIDENT/CEO 40.20
Officer Director
$3,429,773 $57,766 $3,487,539
JOHN M MATSINGER EVP/COO 40.00
Highest
$1,541,855 $56,571 $1,598,426
ROBERT M SEGIN TREASURER-EVP/CFO 40.20
Officer
$1,237,401 $44,861 $1,282,262
REGINALD J BLABER EVP/CCO 40.00
Highest
$1,086,183 $47,908 $1,134,091
STEPHANIE FENDRICK EVP & CHIEF STRATEGY OFFICER 40.00
Highest
$956,933 $17,060 $973,993
LAUREN ROWINSKI SECRETARY - SVP & GENERAL 40.20
Officer
$854,261 $42,031 $896,292
RHONDA R SHEPPARD-JORDAN EVP/CHRO 40.00
Key Emp
$856,767 $48,285 $905,052
JENNIFER L KHELIL SVP/CMO 40.00
Highest
$674,152 $44,631 $718,783
THOMAS GORDON SVP/CIO 40.00
Highest
$650,352 $57,703 $708,055
EDWARD CLOUES CHAIR 0.20
Officer Director
$0 $0 $0
JAMES DWYER DO VICE CHAIR 0.20
Officer Director
$0 $0 $0
PATRICIA CODEY TRUSTEE 0.20
Director
$0 $0 $0
ELAINE DAMM TRUSTEE 0.20
Director
$0 $0 $0
LESLIE DONATO TRUSTEE 0.20
Director
$0 $0 $0
DAMIEN GHEE START 13123 TRUSTEE 0.20
Director
$0 $0 $0
GRAYLING JOHNSON TRUSTEE 0.20
Director
$0 $0 $0
SANIAH JOHNSON TRUSTEE 0.20
Director
$0 $0 $0
PRATAP KHEDKAR TRUSTEE 0.20
Director
$0 $0 $0
DAVID KINDLICK TRUSTEE 0.20
Director
$0 $0 $0
GEORGE LYNN TRUSTEE 0.20
Director
$0 $0 $0
FAYE MELOY TRUSTEE 0.20
Director
$0 $0 $0
JOHN PARKER TRUSTEE 0.20
Director
$0 $0 $0
ADOLFO PIPERNO TRUSTEE 0.20
Director
$0 $0 $0
STACY ROBINSON TRUSTEE 0.20
Director
$0 $0 $0
MARVIN SAMSON TRUSTEE 0.20
Director
$0 $0 $0
CHARLES VILA TRUSTEE 0.20
Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 No data No data No data No data
2023 $537,074,558 $545,789,204 $782,838,547 $-8,714,646
2022 $448,633,936 $447,032,433 $685,104,858 $1,601,503
2021 $449,382,014 $445,284,496 $779,832,667 $4,097,518
2020 $467,027,058 $464,580,374 $852,487,522 $2,446,684
2019 $512,433,763 $341,673,256 $620,063,421 $170,760,507
2018 $328,206,945 $326,070,475 $475,926,992 $2,136,470
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