$200M Investment Loss Causes Fall of Wake Forest Baptist
Winston Salem, North Carolina-based Atrium Wake Forest Baptist, reported a total loss of around $223 million as there was a strong decline in investment returns in 2022.
The increase in expenses resulted in an operating loss of about $24 million for the year ended December 31, 2022, but a net loss of almost $200 million in investments reduced the total figure. Total loss in 2022 compared to a profit of $364.4 million in 2021.
The healthcare system, part of Advocate Health in Charlotte, North Carolina, is based on the 885-bed Atrium Health Wake Forest Baptist Medical Center and also includes the Brenner Children’s Hospital, five community hospitals, and more than 300 primary and specialty care locations.
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