Healthcare industry

CHICAGO — Things could be looking up for nonprofit health care, though the outlook is less positive for the troubled senior-living sector, according to a pair of 2011 outlook reports Fitch Ratings is poised to release Monday.

A provider of residential services for the disabled that was part of a pooled bond deal issued by the Dormitory ­Authority of the State of New York agreed to pay $18 million in damages to settle Medicaid fraud charges, the New York attorney general announced last week.

The Charleston Area Medical Center, West Virginia’s largest medical provider, was put on watch for a possible downgrade last week by Moody’s Investors Service. The A2-rated hospital has $307 million of debt outstanding.

SAN FRANCISCO — California’s Sutter Health will sell $900 million of tax-exempt revenue bonds this month in the health care provider’s first trip to market in two years.

CHICAGO — Toledo, Ohio-based Promedica Health System will begin pricing $270 million of refunding and new-money revenue bonds Thursday.

Collier County commissioners decided Tuesday to withdraw a petition seeking the validation of up to $130 million of revenue bonds to lure a genetics research institute to the southwest Florida area, according to the Naples News.

A city-county council committee is set to hear public testimony Wednesday on Indianapolis Mayor Greg Ballard’s plan to issue $98 million of bonds for a mixed-use development, which includes a new corporate campus for Eli Lilly and Co.

CHICAGO — The U.S. Federal Trade Commission last week filed a pair of complaints against Promedica Health System Inc., a leading health care system in northwest Ohio, charging that its acquisition of a rival hospital is anticompetitive and would allow the Toledo-based system to unfairly raise prices for services.

WASHINGTON — The District of Columbia’s chief financial officer warned the city’s new leaders against writing a fiscal 2012 budget that draws on the general fund balance to pay for operations, saying that balancing the budget in this manner for the fifth straight year could threaten the district’s credit rating and reputation with bond ­investors.

CHICAGO — The new owners of the Detroit Medical Center kicked off the first phase of an $850 million capital program Tuesday afternoon, four days after closing the long-anticipated acquisition.

A $1 billion, largely bond-financed expansion of the Ohio State University Medical Center got a boost last week with the announcement of a $100 million federal grant. The project is Ohio’s largest labor initiative and is projected to create up to 10,000 new jobs and 5,000 construction jobs.

The Alabama Medicaid Agency will receive a $55 million federal performance bonus for implementing methods to enroll low-income children in the health insurance program in fiscal 2010, Gov. Bob Riley announced Monday.

Moody’s Investors Service last week downgraded $1.4 billion of Maine Health and Higher Educational Facilities Authority reserve fund bonds to A1 from Aa3 due to a new rating methodology for pooled debt programs.

Moody’s Investors Service downgraded the Jewish Hospital & St. Mary’s HealthCare to Baa1 from A3 with a negative outlook Friday.

Illinois nonprofit hospitals provided nearly $4.9 billion in community benefits through various programs and services during their 2008-2009 fiscal years, according to Illinois Hospital Association's fourth annual report.

Tennessee Governor-elect Bill Haslam has selected Mark Emkes as commissioner of the Department of Finance and Administration, which oversees the state budget and health care program.

The board overseeing the financing and construction of the new $1.2 billion public hospital in New Orleans to replace state-owned Charity Hospital has selected Kaufman, Hall & Associates as financial adviser for a proposed $400 million revenue bond issue.

BRADENTON, Fla. — Cullman ­Regional Medical Center in Alabama, has had its ratings dropped to below investment grade by Fitch Ratings and Moody’s Investors Service about a year after refinancing all its bonds.

State Senate President pro Tem Darrell Steinberg Tuesday announced the appointment of Ann Rice to the California Health Facilities Financing Authority board.

The Spartanburg Regional Health System was downgraded last week to A-plus from AA-minus by Fitch Ratings as a new facility has failed to fill beds as anticipated.