Healthcare industry

Full repeal of the Affordable Care Act may cut hospital revenue by close to $400 billion over the next 10 years, putting pressure on healthcare bond ratings and state and local budgets.

Provident Resources Group Inc., a national nonprofit, plans to issue up to $400 million of bonds to rescue a distressed commercial proton beam therapy cancer treatment venture in Atlanta.

MultiCare Health System, a not-for-profit health system based in Tacoma, Wash., has reached a deal to purchase the for-profit Rockwood Health System for $425 million and will finance a large portion of it with bonds.

Akron, Ohio-based Summa Health plans to price a $345 million deal this week that includes a refunding, conversion of variable rate debt to fixed rate, and new money to partially fund the health system’s expansion.

MetroHealth in Cuyahoga County, Ohio is eyeing more than $1 billion of borrowing to finance a plan to transform its current campus.

A Michigan House committee will resume hearings on a plan to limit retirement healthcare benefits for municipal workers in the New Year.

U.S. Bank N.A., the trustee for Oconee Regional Medical Center, notified bondholders Tuesday that the Georgia hospital defaulted on its Dec. 1 principal bond payment. It is the second default this year.

Catholic Health Initiatives, one of the nation’s largest nonprofit health care providers, is in danger of a downgrade from S&P Global Ratings after analysts placed its A-minus rating on its negative watch list.

Citigroup Global Markets Inc. scrapped the closing on $377.6 million in revenue and general obligation bonds it priced for El Camino Hospital in northern California after the U.S. Justice Department subpoenaed documents from the hospital.

The Federal Trade Commission’s heightened scrutiny and challenge of not-for-profit healthcare mergers may not change much under a Trump administration, law firm Holland & Knight says a report.