Lee Health reports almost $190M operating income but overall 2022 loss

Fort Myers, Fla.-based Lee Health reported positive operating income of $189.7 million for fiscal 2022 even as it slipped into an overall loss of $3.3 million as the value of its investments declined.

The positive operating income figure was approximately 13 percent lower than fiscal 2021 but significantly above the $32.2 million 2020 figure. 

Salaries and supply costs dragged on the final operating income figure in the year ended Sept. 30, 2022. But it was a more than $200 million loss on unrealized investments that saw the healthcare system dip into the red.

Long-term debt as of Sept. 30 totaled $1.04 billion. Days of cash on hand was reported at 217.3.

The system, which employs approximately 13,700 workers, operates six hospitals and medical centers as well as six specialty centers for outpatient services.

Lee Health tapped Iahn Gonsenhauser, MD, as its chief medical officer Jan. 9.

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