Healthcare industry

The United States not-for-profit sector outlook is stable for 2013, but less favorable than past years, according to Standard & Poor's.

Master trustee UMB Bank told West Penn Allegheny Health System to file an audited financial statement within 30 days to avoid violation of a bond covenant.

West Penn Allegheny Health System has 30 days to post its audited financial report for the 2012 fiscal year to avoid default on its $726 million bond issue.

Standard & Poor's last week revised its outlook to negative from stable on bonds issued by Louisiana's Jefferson Parish Hospital Service District No. 2 issued on behalf of East Jefferson General Hospital.

Indianapolis will start the new year with a $42 million double-A rated bond deal should put the finishing touch on its massive $754 million public safety net hospital replacement.

Highmark and West Penn Allegheny Health System poached a group of five obstetricians and gynecologists previously affiliated with the University of Pittsburgh Medical Center.

Healthcare bond issuance is expected to continue its increase next year, with an estimated $34 billion, according to a BofA Merrill Lynch report.

Miami-Dade County commissioners approved a four-year, flexible draw-down bond program up to $675 million, in a private placement with RBC Municipal Products LLC.

Wells Fargo Securities expects not-for-profit hospitals to experience challenging conditions in 2013.

Highmark, Inc. and state lawmakers are pushing the Pennsylvania Insurance Department to step up its review of the West Penn Allegheny Health System affiliation, but the agency wants more details.

Gov. Bob McDonnell informed the U.S. Department of Health and Human Services that Virginia will not be pursuing a state-based health benefits exchange for 2014.

Standard & Poor's has revised its outlook to stable from positive on Franciscan Sisters of Christian Charity Ministries Inc.'s BBB-plus rating.

The Phoenix City Council adopted a one-year tax on local hospitals to generate up to $130 million a year as matching funds for federal healthcare.

Market-based solutions are needed to reform the United States healthcare system, said a former chief executive officer of pharmaceutical giant Merck at The Bond Buyer's 501(c)3 conference.

The $3 billion bond-funded Cancer Prevention Research Institute of Texas faces a criminal investigation over an $11 million grant to a company backed by a major campaign contributor to Gov. Rick Perry and Lt. Gov. David Dewhurst, according to the Travis County District Attorney's public integrity unit.

Public-private partnerships will take over operations in 2013 at three Louisiana State University hospitals and another one under construction.

A $3 billion bond-funded cancer research program that granted funds to a firm backed by donors to Texas Gov. Rick Perry is under investigation by the state attorney general's office, and the executive director of the program has resigned.

Moody's Investors Service downgraded to A2 from A1 its rating on the Detroit-based Henry Ford Health System.

The Internal Revenue Service has suggested that some of the revenue bonds issued in 1993 by the New Jersey Health Care Facilities Financing Authority for Deborah Heart and Lung Center may not be tax-exempt because of a "total return swap," and has asked NJHCFFA for more information.

Moody’s Investors Service downgraded to Ba2 from Ba1 the long-term bond rating assigned to Good Samaritan Hospital’s 64.5 million of outstanding bonds issued by the Lebanon County Health Facilities Authority.