Healthcare industry

Moody’s Investors Service upgraded Heartland Regional Medical Center’s underlying rating by one notch to A1, citing strong operating profitability.

CHICAGO — The Illinois Finance Authority on Tuesday advanced St. Louis-based Ascension Health Alliance's plans to issue up to $600 million of new-money and refunding debt tied primarily to its recent acquisition of Alexian Brothers Health System in suburban Chicago.

LOS ANGELES — Hawaii legislators advanced two bills on Friday intended to help St. Francis Healthcare System of Hawaii reopen two Oahu hospitals, one of which would provide the system with $80 million in special-purpose revenue bond authority.

A Rhode Island Superior Court judge’s preliminary injunction preventing the state’s capital, Providence, from moving retirees who are 65 and older off the city’s health insurance plan and into Medicare is a credit-negative, said Moody’s Investors Service.

WASHINGTON — The Internal Revenue Service is auditing $31.59 million of Series 2004A first mortgage revenue bonds that were issued by the St. Johns County Industrial Development Authority in August 2004 to help Presbyterian Retirement Communities Inc. and its affiliates finance improvements to eight retirement centers in Florida.

Providence Mayor Angel Taveras warned that the Rhode Island capital will run out of money in June without a reduction in pension obligations and larger contributions from tax-exempt institutions such as Brown University.

Providence may appeal a Rhode Island Superior Court ruling Monday that for now stops it from switching police and fire retirees to Medicare after they turn 65.

The Dormitory Authority of the State of New York’s board has approved $534 million in financings for higher education and health care institutions.

New York Gov. Andrew Cuomo is proposing lightening the burden of Medicaid expenses on New York City and the state's counties.

San Francisco-based Catholic Healthcare West has changed its name to Dignity Health to appeal to a broader patient audience.

CHICAGO — The nonprofit health care sector's brief post-2008 recovery is about to deteriorate in the face of myriad pressures, credit analysts warned in a pair of reports Wednesday.

The Dormitory Authority of the State of New York on Wednesday is scheduled to refund $122 million of Memorial Sloan-Kettering Cancer Center fixed-rate, tax-exempt revenue bonds, 2003 Series 1.

Minnesota’s not-for-profit hospitals provided 27% more charity care in 2010 than in 2009, according to the community benefits report released last week by the Minnesota Hospital Association.

Moody’s Investors Service last week upgraded to Baa2 from Baa3 its rating on Ball Memorial Hospital, affecting $101 million of bonds.

CHICAGO – Even with added revenue from last year's income tax hike, Illinois entered the new year with an estimated $8.5 billion in unpaid bills and pending Medicaid vouchers, employee health insurance payments, and other obligations.

CHICAGO — After more than a year of waiting out the market, Wisconsin's largest health care provider, Aurora Health Care Inc., this week will complete refunding plans put on hold amid rising rates in 2010 with the sale of nearly $400 million of fixed-and floating-rate bonds.

CHICAGO – Illinois nonprofit hospitals say they provided $4.6 billion in charity care and community benefits in 2010, a number that has risen 26% in five years and is at the center of a debate that could lead to a legislative mandate on uncompensated services hospitals must provide to retain their tax-exempt perks.

Connecticut and Jackson Laboratory finalized their agreement for the Bar Harbor, Maine, company to build a $1.1 billion personalized-medicine laboratory at the University of Connecticut Health Center in Farmington.

Seattle-based Perkins Coie LLP has hired a trio of public finance attorneys who will work out of the firm's Chicago office to help expand its health care business.

Moody’s Investors Service has upgraded Bellin Memorial Hospital one notch to A2 in recognition of its favorable operating performance.