In fiscal 2013, MHC is projecting a net loss of $4,975,845, compared to a loss of $1,116,769 in fiscal 2012. Those figures incorporate costs for startup operations. If startup costs are excluded, MHC anticipates a $1,489,919 net gain in FY 2013, compared to a projected $2,335,033 gain in FY 2012.

One of the startup ventures being formed is called Paradigm, which is described in the MHC report as a new nonprofit membership corporation to assist physicians treating cancer patients. The Phoenix-based International Genomics Consortium owns a 6% stake in the entity. As part of approving the FY 2013 budget, regents also authorized an increase in the cap for MHC’s capital investment – from $30 million to $45 million. The increase will allow MHC to establish Paradigm with a $15 million investment.

This brief was filed from the Michigan Union Ballroom on the Ann Arbor campus, where regents held their June meeting.