CHS loses $788M in 2018

By Hickks - Own work, CC BY-SA 3.0, Link

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.

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