http://www.fiercehealthcare.com/healthcare/catholic-health-initiatives-pulls-out-insurance-business?utm_medium=nl&utm_source=internal&mkt_tok=eyJpIjoiTmprM1ptSXlNVEE0WWpCaCIsInQiOiJJd24rWE1HUTl5THZuZTRuaHJMOVViMlI2MFJwcSs4Q0hyaXFlcVJHc2J5WWhucGdmVkRQem9jM1dcL2NrVitKQStmdFZSeXVvMkp1S21qNWE4bHVcLzB6akJCOVAxRzROV2JcL3ZNbFFveVI5R2owbGRHdncwemtOWUpaaG8xVHhXMyJ9

As more hospitals across the country consider launching their own health insurance plans, one big hospital operator is pulling out of the business.

Catholic Health Initiatives (CHI), a large nonprofit health system based in Colorado, no longer plans to develop a “wholly owned and nationally driven” insurance business, according to The Wall Street Journal. Instead, it’s going to sell portions of the health insurance business.

The provider, which operates 103 hospitals in 18 states, lost nearly $110 million during the last fiscal year, according to the article.

Dean Swindle, chief financial officer and president of its enterprise business lines for CHI, didn’t agree to an interview for the latest news,  but told the publication in April that “it’s tough in the health plan business. You lose money. You make mistakes. You plow forward. It takes cash.”