
UPMC announced on August 21, 2008 that its profits for fiscal year 2008 were $5 million. That is down from a reported $612 million in fiscal year 2007. Most of this decline is due to losses in UPMC's investment portfolio. UPMC remains exceedingly profitable, earning $184 million in 2008 in its hospital, doctor, and health insurance operations. The money generated in 2008 by UPMC's hospitals, health insurance business, and other holdings was $7.02 billion, up 12% from fiscal year 2007.
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