Mullica Hill, N.J.-based Inspira Health reported an operating loss of $42.7 million in 2022 as expenses rose 13.7 percent on the year.
The loss, compared with an operating gain of $52.6 million in 2021, resulted in a $95.3 million swing over one year. Declining investment returns dragged the overall loss in 2022 down to $169.6 million compared with net income of $134 million in 2021.
Inspira Health reported long-term debt of $480.5 million at the end of 2022.
The three-hospital system named its first female board chair, effective April 5, with the appointment of Elizabeth Ryan. William Pelion was named senior vice president and CFO on March 13.