Canton Mass., March 1, 2023 – Point32Health today reported an adjusted net income of $13.1 million for the 12 months ended Dec. 31, 2022. Adjusted net income includes an operating loss of $97.5 million and investment income of $106.1 million, excluding mark-to-market investment gains and losses on equity securities, with revenues of $9.8 billion. Membership was 2.2 million at the end of 2022.  Unrealized losses on equity securities for the year was $274.2 million.

“We are making good progress with our combination journey,” said Umesh Kurpad, chief financial officer, Point32Health. “Our market segments showed improved operating results from medical cost management initiatives, greater control of pharmacy costs, and lower costs associated with COVID-19.”

These financial results compared to a year ago when the organization reported an adjusted net loss of $43.6 million for the year ending Dec. 31, 2021, which comprised an operating loss of $211.3 million and investment income of $175.5 million, excluding mark-to-market investment gains and losses on equity securities and one-time real estate gain, with revenues of $9.4 billion. Membership was 2.2 million at the end of 2021.