Moody’s upgraded the credit ratings of Waukesha, Wis.-based ProHealth Care, Zanesville, Ohio-based Genesis HealthCare System, Gainesville, Fla.-based UF Health Shands and Jacksonville, Fla.-based UF Health Jacksonville on Oct. 19 and Oct. 20.
Genesis HealthCare System’s rating was upgraded to “Baa3” from “Ba1.” Moody’s said the upgrade was driven by the system’s continued deleveraging alongside a sustained run of solid financial performance.
Moody’s said the Baa3 rating reflects the system’s essential role as a sizable rural provider and its limited competition as a sole community provider.
ProHealth Care’s rating was upgraded to “Aa3” from “A1.” Moody’s said the upgrade reflects the system’s sustained strong financial performance and liquidity well above peers, which have helped it pay down debt.
Moody’s said the Aa3 rating reflects ProHealth’s leading inpatient and outpatient market share in Waukesha County and its disciplined financial strategy. The system had 562 days cash on hand as of June 30.
UF Health Jacksonville’s rating was upgraded to “Baa2” from “Ba1.” Moody’s cited the same drivers behind the UF Health Shands upgrade: stronger-than-expected financial performance and liquidity tied to new directed payment programs, strategic initiatives and new leadership.
Moody’s said the Baa2 rating reflects the system’s growing strategic role as the hub of UF Health’s northeast Florida expansion, including growth at its North campus and ambulatory sites.
UF Health Shands’ rating was upgraded to “A2” from “A3.” Moody’s said the upgrade reflects financial performance and liquidity that have far outpaced expectations, driven by new directed payment programs and strategic initiatives carried out after structural changes and the arrival of a new management team.
Moody’s said the A2 rating reflects the system’s strong academic medical center franchise, its growing regional footprint and its deepening alignment with the Gainesville-based University of Florida.
Becker’s 3rd Annual Fall Chief Pharmacy Officer Summit is the top tier event that the people leading the future of pharmacy convene. This 3-day event is built specifically for Chief Pharmacy Officers and senior pharmacy leaders. The sessions examine the workforce, financial and clinical priorities shaping pharmacy today. Becker’s is where candid discussions flourish and new ideas thrive. Becker's 3rd Annual Fall Chief Pharmacy Officer Summit
