West Penn Allegheny reports $52M loss

AP News
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Posted: Dec 30, 2011 2:53 PM
West Penn Allegheny reports $52M loss

Auditors say the West Penn Allegheny Health System lost $51.8 million in the most recent fiscal year, which ended June 30.

West Penn Allegheny says in a release Friday that auditor KPMG has expressed doubt about its ability to continue as a going concern.

Health insurer Highmark plans to acquire West Penn Allegheny and contribute $475 million to improvements, but the KPMG report says there's no guarantee those plans can be effectively implemented.

West Penn Allegheny also says it will delay the opening of a Temple University medical school campus at the health system until the deal with Highmark is approved by regulators.