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.
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.