Catholic Health Initiatives has decided to divest its health insurance business, according to recent financial documents posted by the company, Becker’s Hospital Review reported. Based in Englewood, Colo., CHI is the parent organization of Mercy Medical Center-Des Moines. CHI’s health insurance subsidiary, QualChoice Health, lost nearly $97 million from operations in the first nine months of its 2016 fiscal year, which ended March 31. CHI executives decided in May to “exit the health insurance business” and are currently “exploring options to sell” QualChoice, according to the financial documents. CHI ended the first nine months of fiscal 2016 with an operating loss of $265.6 million on revenue of $12.2 billion.