Scottsdale, Ariz.-based HonorHealth reported an audited operating loss of $4.3 million in 2022 on revenue of $2.8 billion.
That figure compared with an operating gain of $74.6 million in 2021 as expenses increased year-over-year by 11.8 percent.
The six-hospital system, which has about a third of the market share in fast-growing Maricopa County, recorded an overall loss of $130.6 million compared with 2021 net income of $204.1 million as investment losses mounted.
HonorHealth broke ground on a $170 million expansion project at its Deer Valley Medical Center in northern Phoenix, the system said April 11.