Not-for-profit healthcare

The acquisition closed Friday and all nine employees, who provide municipal and healthcare advisory services and treasury consulting services, joined PFM.

The Kaiser Family Foundation's report drew the ire of the American Hospital Association, which said it excluded many community benefits from its analysis.

Each would preserve their individual brands with a new organization functioning as the parent company with the aim of cutting administrative costs.

A stronger 2021 aided hospital balance sheets for those whose fiscal years end on June 30 based on a review of hospital operating medians

One public hospital district violated a debt service covenant and was downgraded to junk; the other declared a fiscal emergency and seeks an outside partner.

The state's flagship university said its proposal to acquire its healthcare facilities from Fairview, which is preparing to merge with an out-of-state healthcare system, requires state help.

Moody's and S&P also warn of the potential for further downgrades; UC Health has begun to implement financial turnaround strategies amid operating losses.

Mergers and acquisition dropped to 55 last year from 73 in 2021, continuing on a downward course since 2017, according to a review published by Ponder & Co.

Moody's lowered Fairview Health Services by one notch to Baa1 and assigned a negative outlook, but a pending merger and expected sale of some facilities could help its bottom line.

Hospital margins ticked up in November, but 2022's bruising will linger well into this year straining some ratings.

The action affects about $312 million of debt. The outlook, previously positive, is stable at the new, higher rating.

Attacks pose acute financial threats and longer term reputational and legal risks, analysts said.

Moody's dropped Sparrow Health's rating a notch as it's not yet factoring in the financial and operational benefits of its acquisition by UM Health, which won't extent to a debt guarantee.

Balance sheet damage from labor costs, the pandemic and a cybersecurity breach triggered covenant violations for Capital Region Medical Center.

Moody's downgraded $651 million of Main Line Health Services revenue bond debt to A1 from Aa3.

University of Michigan Health will acquire Sparrow Health System in a move that provides a fiscal infusion for Sparrow's operational and capital ailments.

Arrick was formerly a managing director and healthcare group leader for S&P Global Ratings.

Advocate Aurora Health and Atrium Health finalized their merger Friday.

Texas trails only Florida for first-time payment defaults on bonds issued for senior health and living facilities for seniors since 2009, according to MMA data.

Hospital fiscal wounds have mounted this year and the balance sheet damage is expected to extend into 2023 as labor pressures show little sign of easing.