Healthcare industry

Moody's downgraded to Ca from Caa1 the bond rating of West Penn Allegheny Health System, which is embroiled in a messy merger battle with Highmark.

The University of Texas plans to quickly form a steering committee, hire an inaugural dean and recruit faculty members for a new medical school approved by Austin voters in last week's election.

Texas lawmakers filed bills Monday for their 2013 session to boost state revenues as the state struggles to cope with a looming Medicaid shortfall and restore school funding.

Indiana’s chief budget official Adam Horst announced last week he is leaving the post to join Indiana University Health after less than a year on the job.

Oak Brook, Ill.-based Advocate Health Care Network will sell $150 million of new-money this week to finance projects including a new patient tower at one of its 10 Illinois hospitals.

A judge on Friday granted Highmark's motion for a preliminary injunction against West Penn Allegheny Health System, blocking the speculative-rated health system from seeking other suitors for an affiliation.

The re-election of President Obama is a credit neutral event for non-profit hospitals, but looming changes in the federal landscape tied to the new health care law and budget deficit, present challenges, Moody's Investors Service said in a report Wednesday.

Illinois-based Centegra Health System will offer up $200 million of mostly refunding bonds Thursday as it seeks to lay the groundwork for future issuance to finance a new hospital.

Cook County announced it received a long-awaited federal approval for a so-called 1115 Medicaid waiver, allowing the county to expand its Medicaid program.

The medical community in Austin, Tex., is divided over a ballot proposition that would support a University of Texas medical school in the state capital.

Fitch Ratings downgraded $572 million in debt issued for Loma Linda University Medical Center one notch to BBB-minus, the lowest investment grade rating

Two of Michigan's largest providers Wednesday announced plans to merge to create a new $6.4 billion system, joining the growing number of providers nationally who are hoping to consolidate.

With the healthcare industry facing dramatic changes, Scottsdale Healthcare Corp. is getting a ratings lift after the sale of eight buildings under a new finance strategy.

Standard & Poor’s said the announcement of a proposed merger between health care giants Trinity Health and Catholic Health East does not affect their credit ratings yet, but that a consolidation would likely result in a credit with a weaker rating than Trinity’s AA rating.

Wyoming, Mich.-based Metro Health is seeking a strategic partner for a merger to help navigate changes in the health care industry.

A court hearing on a dispute between Highmark Inc. and West Penn Allegheny Health System Inc. over their failed $475 million merger agreement will continue Thursday in Pittsburgh.

A proposed merger between two large nonprofit healthcare systems is a credit positive for the nonprofit healthcare sector, Moody's Investors Service says.

An association representing safety-net hospitals is lobbying Congress to restore cuts that are built into the new federal health care law.

Crittenton Hospital, in an affluent suburb of Detroit, comes to market Tuesday with $108M of new-money and refunding bonds.

Fitch Ratings lowered West Penn Allegheny Health System's $737 million revenue bonds CCC from B-plus, citing uncertainty over its proposed Highmark affiliation.