FORT WAYNE, Ind. (WOWO): The owners of Fort Wayne-based Lutheran Health Network lost $788-million last year.
That’s according to a report by the Journal Gazette, citing financial results released Wednesday, and it sounds bad, but Community Health Systems has actually seen worse: in 2017 they lost $2.46-billion. CHS spent 2018 closing and selling unprofitable facilities and has a long-term debt of $13.4-billion.
Critics of the healthcare provider have claimed that Lutheran’s network of hospitals, clinics, and practices are helping keep CHS afloat. The company’s financial woes were one of the motivators behind a failed takeover bid by a group of local physicians.