The Medical College of Wisconsin reported an annual 2022 loss of $256.5 million as its expenses rose and amid a significant decline in its investment performance. That figure compared with net income of $303.8 million in fiscal 2021.
While expenses rose in 2022 by approximately 7 percent to total $1.36 billion, unrealized investment numbers slumped from a gain of about $284 million in 2021 to a loss in 2022 of almost $385 million, according to financial results for the fiscal year ending June 30.
The Milwaukee-based Medical College of Wisconsin agreed in September to expand its partnership with Neenah, Wis.-based ThedaCare and Milwaukee-based Froedtert to provide more accessible specialty care for Northeast and Central Wisconsin residents.