Allina Health ends Q1 with $17M operating loss

Allina Health ended the first quarter of 2019 with an operating loss, but strong investment gains pushed the Minneapolis-based health system's net income higher, according to unaudited financial documents released May 15.

Allina's revenues grew less than 1 percent year over year to $1.06 billion in the first quarter of 2019. Higher expenses offset the health system's revenue growth. Allina reported operating expenses of $1.08 billion in the first quarter of 2019, up 2.7 percent from the same period a year earlier.

Allina ended the first quarter of 2019 with an operating loss of $17.2 million. In the first quarter of 2018, Allina posted operating income of $9.4 million.

After factoring in nonoperating items, including a $108.8 million investment gain, Allina's net income climbed to $81.7 million in the first quarter of 2019. In the same period of 2018, Allina recorded a $7.1 million investment loss and net income of $9.7 million.

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