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UPMC shows losses, gains income, interest mixed

Pittsburgh Post-Gazette, February 13, 2009

University of Pittsburgh Medical Center's investment portfolio took a $3 million hit last quarter, but it remains on target to exceed a $500 million cash flow income this fiscal year, health system officials said. Chief Financial Officer Robert DeMichiei said UMPC had $103 million in operating income for the first half of the current fiscal year—up $3 million from the same period a year ago. That money will be used to fund capital expenditures and create new programs in addition to keeping the health system running, he said.