Lahey and the hospital finalized their partnership — which is not a full-scale merger — in July. The 229-bed hospital joined Lahey under a shared governance model. Based on the hospital’s history of strong performance and the health system’s larger scale, Lahey foresees opportunities for financial and clinical improvements for both organizations in fiscal year 2015 and beyond, according to S&P.
S&P has also affirmed an “A+” rating for Lahey Health based on the system’s growing market share in the northeast Massachusetts area, particularly concerning the recent addition of Winchester Hospital. The system’s strong employed physician model, revenue diversity, solid financial performance and adequate reserves also contributed to the rating affirmation.
Meanwhile, S&P’s stand-alone credit profile rating for Winchester Hospital remains at “BBB+” based on good balance sheet metrics, positive operating performance and strong debt service coverage for the rating level, among other factors.
More articles on hospital ratings:
Moody’s affirms Carolinas HealthCare System’s ‘Aa3’ rating
Fitch affirms Frederick Memorial Hospital’s ‘BBB+’ rating
Fitch affirms Butler Health System’s ‘A-‘ rating
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