Altamonte Springs, Fla.-based AdventHealth reported a net loss of $837.9 million on revenues of over $15 billion for the year ending Dec. 31 as one of the biggest health systems in the country saw its investment values slump.
The 49-hospital system, which operates across nine states, reported a decline of almost $1.2 billion in its investment return for the year compared with a $524.9 million gain in 2021. Operating income was profitable at a total of $283.8 million, but it was down from $994.6 million in 2021 as expenses increased 11 percent.
For the three months ending Dec. 31, there were signs of improvement as the system reported an operating gain of $269.3 million and an overall profit of $489.4 million.
AdventHealth and Chicago-based CommonSpirit said in February they would end their Centura Health joint venture, with AdventHealth continuing to operate and manage its five Colorado hospitals and affiliated clinics from the venture.