In addition, CentraCare’s management has shown a strong focus on reining in costs caused by inflationary pressures and the system’s outlook is stable, Fitch said. More than $100 million in operating improvements have been identified by management over the next five years.
The system’s total service area covers 18 counties in Central/Western Minnesota, and CentraCare is also boosted by the low local unemployment rate of 3.3 percent, below the national average, Fitch said.
Total audited operating revenue was almost $1.9 billion in fiscal 2022, Fitch said. CentraCare also operates senior living facilities, pharmacies and a physician group as well as its hospitals.
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