The affirmation of the rating reflects a “very strong” financial profile and a leading market share position, Fitch said. The flagship Salem Hospital, a 567-bed facility, is the only hospital in the city of Salem, approximately 45 miles south of Portland.
In fiscal 2022, Salem Health reported revenues of over $1 billion and reported an almost break-even performance for the year, with losses from operations totaling only $3.1 million.
With the completion of a new inpatient tower in the summer of 2022, Salem is expected to have limited capital expenditure over the medium term, Fitch said.
