Kaiser Permanente recorded a net income of $9.3 billion in 2025, drawing criticism from those who argue the Oakland, Calif.-based system, the nation’s largest private nonprofit, has drifted from its charitable mission in recent years.
The bulk of that income came from investments rather than operations. On the operating side, Kaiser reported $1.4 billion in operating income, reflecting a 1.1% margin, up from $569 million and a 0.5% margin in 2024. Total operating revenue grew from $115.8 billion to $127.7 billion year over year, while operating expenses rose from $115.2 billion to $126.3 billion over the same period.
In response, Kaiser told the Los Angeles Times that its charitable mission shapes every decision the organization makes. The system said it invests billions annually in the communities it serves, striving to “advance high-quality, affordable, equitable, evidence-based care.” Kaiser also noted that its California hospitals are among the best-staffed in the state and consistently meet or exceed state staffing requirements.
Here are five more updates from Kaiser from the last month:
1. New hospital tower breaks ground in Oregon.
Kaiser Permanente has broke ground on a new seven-story, 615,000-square-foot tower at its Sunnyside Medical Center in Clackamas, Ore. Slated to open in 2029, the facility will be Oregon’s first fully electric hospital. Kaiser did not disclose the project cost, noting it typically withholds that information until construction is complete.
2. Oregon and Southwest Washington nurses ratify new contract.
Members of the Oregon Federation of Nurses and Health Professionals voted 90% in favor of a new labor agreement with Kaiser Permanente, covering more than 4,500 workers. The contract includes 21.5% in across-the-board wage increases, with some employees seeing total raises of up to 30% over the life of the deal.
3. California and Hawaii nurses ratify contracts covering 31,000 workers.
Members of the United Nurses Associations of California/Union of Health Care Professionals ratified labor contracts covering approximately 31,000 registered nurses and healthcare professionals at Kaiser facilities in California and Hawaii. The agreements were approved by an overwhelming majority after roughly a year of bargaining and will run through Sept. 29, 2029 — aligning expiration dates across the union for the first time in more than two decades.
4. Maintenance workers reach tentative agreement.
Members of the International Union of Operating Engineers reached a tentative contract with Kaiser Permanente hospitals covering IUOE Local 501, Local 99 and Local 1, approximately 600 maintenance workers across Southern California, the Mid-Atlantic and Colorado. The deal includes 21.5% wage increases over four years.
5. Kaiser Northwest names new CFO.
Kaiser Permanente has appointed Luke Rockenbach as CFO of its Northwest region, which encompasses Sunnyside Medical Center in Clackamas, Ore., Westside Medical Center in Hillsboro, Ore., and more than 30 medical offices. Rockenbach joins from Sutter Health, where he served as divisional CFO for the Greater Silicon Valley market, a role in which he oversaw financial strategy for a region generating roughly $5 billion in annual revenue.
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