Not-for-profit healthcare

A nonprofit Texas-based retirement community operator filed for Chapter 11 bankruptcy on Monday to deal with its troubled debt and sell its assets.

The sector is a target-rich environment due to the large amount of sensitive data that healthcare entities maintain for patient care and operations.

ProMedica's senior living division has suffered deep pandemic-related fiscal wounds while its hospitals' recovery was set back by the Omicron variant.

If the deal closes, the two systems say they will evaluate existing debt structures and combine credits where possible and beneficial.

BHSH brings almost $1.5 billion of bonds to refund Beaumont's debt and raise some new money. The new system keeps Spectrum's higher legacy ratings.

Fitch and S&P have now joined Moody’s in downgrading the Renton, Washington-based healthcare system’s $6 billion of bonds.

The 12 announced transactions in the first quarter marked the lowest since Kaufman Hall began tracking the activity in 2016.

Continued market demand means not-for-profit hospitals must think about their ESG strategy, according to a Kaufman Hall analyst.

The combined Utah-based Intermountain and Colorado-based SCL will operate 33 hospitals and 385 clinics in Utah, Idaho, Nevada, Colorado, Montana, Wyoming, and Kansas.

SSM returns to the market with $323 million, highlighting its stronger balance sheet, ESG efforts, and medical partnerships that reflect a sector trend.