Healthcare industry

The wave of mergers sweeping across the non profit health care sector the past two years is a positive trend for hospitals as well as for investors who like to buy hospital bonds, Fitch Ratings said in a new comment.

Moody's Investors Service has revised the outlook to negative from stable on Deborah Heart and Lung Center's outstanding bonds, issued by New Jersey Health Care Facilities Financing Authority.

Illinois Gov. Pat Quinn signs a $33.7 billion general fund budget for new fiscal year that includes $2.7 billion Medicaid restructuring, makes $1.3 billion dent in overdue bills, and cuts discretionary spending. Quinn is pushing lawmakers to act on pension reforms to stabilize state fiscal house.

Abington Health and Holy Redeemer Health System have announced their intent to merge into a new regional Pennsylvania health system.

Thursday's historic Supreme Court ruling was the best of the likely rulings for the non profit health care sector. But the decision upholds a law that features a host of challenges for the already-challenged sector.

Moody's calls Illinois legislation setting charity care guidelines for not-for-profit hospitals positive for the sector's credit health

Moody's Investors Service has revised its outlook on Meriter Hospital's A1 rating to negative from stable ahead of a private placement of debt.

Both Moody's Investors Service and Standard & Poor's have revised their outlooks on New Jersey's junk-rated Palisades Medical Center to positive from stable.

Moody's Investors Service has downgraded the Washington Township Health Care District's long-term revenue bonds to Baa1 from A3, affecting $232 million of debt.

Despite a downgrade to Ba1 by Moody’s Investors Service, the Temple University Health System saw strong demand for $311 million of revenue and refunding bonds issued through the Philadelphia Hospitals and Higher Education Facilities Authority.

Fairview Health Services got hit with a downgrade from Moody’s Investors Service and a warning of further negative action due to fiscal 2011 operating losses and potential fallout from the state attorney general’s probe into its bill collection practices.

Illinois Gov. Pat Quinn last week signed sweeping health care legislation that dramatically eases the Medicaid funding burden on state coffers while defusing a fiscal threat posed to not-for-profit hospitals.

Charity care is on the rise at Missouri hospitals and that increase is not expected to abate due to lower Medicaid enrollment and job losses due to the economy, according to a report released last week.

Proctor Hospital’s rating has sunk deeper into junk-bond territory and the Illinois health care provider could still fall further due to its ongoing operating struggles.

Fitch Ratings has upgraded Olmsted Medical Center’s rating one notch to BBB-plus from BBB in recognition of the Minnesota hospital’s strong financial performance.

CHICAGO — The Illinois Senate passed legislation Tuesday raising the state's cigarette tax by $1 as part of a $2.7 billion Medicaid reform package aimed at easing the program's strain on state finances.

CHICAGO — The Illinois House approved a bill Friday that raises the cigarette tax by $1 and establishes charity care standards for the state's nonprofit hospitals in order to preserve their property tax exemption.

CHICAGO — Michigan officials are putting the final touches on a fiscal 2013 budget that will likely mark the state’s first contribution since the early 1990s to prefund its towering retiree health care liability.

At its meeting on Wednesday the board of the Dormitory Authority of the State of New York approved approximately $3.9 billion in financings for higher education and health care institutions.

CHICAGO — Nearly half of nonprofit hospitals expect capital spending to rise over the next five years, driven primarily by a need to invest in information technology, according to a new survey from Fitch Ratings.