Healthcare Business News

UnityPoint Health reports weaker financial results, and other news

By Bob Herman
Posted: June 7, 2014 - 12:01 am ET

UnityPoint Health experienced weaker financial results in its most recent quarter as the West Des Moines, Iowa-based health system struggled with lower admissions and the integration of an acquisition that took it into the insurance space.

Meriter Health Services in Madison, Wis., had agreed to become a UnityPoint affiliate, giving UnityPoint its first presence in the Badger State. The not-for-profit Meriter includes a 301-bed hospital and for-profit Physicians Plus Insurance Corp. The organization officially joined UnityPoint in January.

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Meriter's health insurance arm lost $46 million from fiscal 2012 through the first six months of fiscal 2013. The deal marks UnityPoint's debut in the insurance market.

Follow Bob Herman on Twitter: @MHbherman

CHE Trinity reports 28% drop in income

Operating income at CHE Trinity Health dropped 28% in the first nine months of fiscal 2014 as the Livonia, Mich.-based Catholic system absorbed charges related to its merger and overvalued property.

CHE Trinity officially merged last May, combining Trinity Health and Catholic Health East into a system with 80-plus hospitals. In the nine months ended March 31, according to recently released unaudited financials, the organization tallied $24.9 million in costs related to the consolidation. Comparatively, merger expenses cost $9.4 million in the first nine months of fiscal 2013.

The system also recorded a $32.7 million impairment charge, as it recorded the value of assets at East Norriton, Pa.-based Mercy Suburban Hospital, a 126-bed hospital within CHE Trinity's Mercy Health System. In total, CHE Trinity's operating surplus was

$203.7 million, compared with the pro-forma figure of $283.6 million in the same period of 2013.

Follow Bob Herman on Twitter: @MHbherman

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