Carolinas HealthCare loses $551 million for year

Charlotte, NC-based Carolinas HealthCare System reported a net loss of more than $551 million for 2008, driven by significant investment losses and higher interest expenses. The system's investment losses for 2008 totaled $538 million. At the start of 2008, Carolinas HealthCare officials had anticipated gains of more than $100 million on the system's investments, or an 8% return.