UnityPoint posts surplus thanks to investment gains
UnityPoint, which operates 19 hospitals in Iowa, Illinois and Wisconsin, posted an investment gain of $168.8 million in 2016 compared with $726,000 in 2015, according to its financial disclosures.
That gain and other non-operating income more than offset a big decline in operating income for the year, down to $6.6 million compared with $67.5 million in 2015. Des Moines-based UnityPoint ended the year with net income of $144.7 million on revenue of $4.1 billion compared with net income of $58.3 million on revenue of $3.9 billion in 2015.
The health system, which includes a large physician practice and a health plan, received approval from the Federal Trade Commission last month to proceed with UW Health in Wisconsin to run UnityPoint's Meriter hospital in Madison under a joint operating agreement.