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Healthcare Finance News

Healthcare Finance: From Crisis to Recovery

Modern Healthcare Coverage
Magazine
Land grab | More investors offer hospitals cash for their real estate as providers hunt for capital
By Melanie Evans | March 07, 2011 | Print Magazine Print Magazine Subscription Details
Aging baby boomers and the nation's healthcare reform push may drive more demand for square footage to provide medical care, and efforts to curb health spending could mean providers increasingly tap into their real estate for cash.
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Magazine
Hospitals: Restore incentives | Short-lived programs helped boost borrowing
By Melanie Evans | February 28, 2011 | Print Magazine Print Magazine Subscription Details
Build America Bonds, the temporary financing option that helped lower debt costs for healthcare borrowers before it expired in December, enjoy the endorsement of the president, who would revive the bonds if he could. But hospitals are moving to resurrect other now-defunct credit programs.
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Magazine
Offering salvation | Ascension, equity firm forge deal they say could save Catholic hospitals
By Joe Carlson | February 21, 2011 | Print Magazine Print Magazine Subscription Details
Catholic hospitals care for one of every six inpatients in the U.S., but mounting financial pressures are forcing many of them into deals that may feel like Faustian bargains that pit their Catholic identities against their ability to survive.
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Magazine
Gambling on change | Five big systems buy into a venture capital fund to try to reap profits from the transformation of healthcare
By Melanie Evans | January 31, 2011 | Print Magazine Print Magazine Subscription Details
Five major health systems have put up to $50 million behind their faith that executives can pick the winners as emerging companies vie for business during the sweeping regulatory and market changes expected under healthcare reform.
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Magazine
Record slowdown, bigger share | While 2009 saw a historic slowing of growth in healthcare spending, its share of GDP saw an unprecedented increase
By Melanie Evans | January 10, 2011 | Print Magazine Print Magazine Subscription Details
Households sharply curbed spending in 2009 on clinic visits, hospital care and other medical services as the Great Recession wore on and many Americans saw paychecks and health benefits shrink or vanish.
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Magazine
Cost-cutting keeps profits high | Hospitals provided free services, made money in '09
By Joe Carlson | December 13, 2010 | Print Magazine Print Magazine Subscription Details
Hospitals gave out more free care than ever in 2009, but the latest statistics show the industry still posted record operating profits.
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Magazine
Free care adds up | Hospitals’ uncompensated costs up 10%
By Joe Carlson | December 13, 2010 | Print Magazine Print Magazine Subscription Details
Hospitals in 2009 provided $75.6 billion worth of care for which they were not fully compensated in 2009, a 10% increase from the $68.8 billion reported the year before, according to figures provided by the American Hospital Association.
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Magazine
A win for drug data-mining | Vermont law restricting marketing overturned
By Joseph Conn | November 29, 2010 | Print Magazine Print Magazine Subscription Details
A federal appeals court in New York has overturned a Vermont law seeking to restrict the use of prescription drug data in the marketing of pharmaceuticals to physicians.
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Magazine
Data battle | Hospitals say study doesn’t prove their market clout
By Melanie Evans | November 22, 2010 | Print Magazine Print Magazine Subscription Details
Insurers paid significantly more to some hospitals and less to others in eight U.S. markets, research released last week found. Economists point to the results as a possible sign that hospitals wield market clout to raise prices at a time when the sector is lobbying for more leeway under antitrust...
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Magazine
Keeping the doors open | Recession, reform pave way for Caritas Christi sale
By Joe Carlson | November 15, 2010 | Print Magazine Print Magazine Subscription Details
Time was, the prospect of converting Catholic hospitals into dividend-paying businesses drew the sharp ire of workers and religious clerics alike.
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News
Community Health reaches deal on term loans
By Vince Galloro | November 08, 2010 | Basic Web Basic Web Subscription Details
Community Health Systems, Franklin, Tenn., and some of its creditors have agreed to extend the maturity on $1.5 billion it owes under term loans that funded its acquisition of Triad Hospitals in 2007, according to a Community news release.
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Magazine
Taking off? | Reform law could fuel trend in investor interest
By Melanie Evans | November 01, 2010 | Print Magazine Print Magazine Subscription Details
Venture capital investments slowed during the final summer months, but healthcare services drew more venture capital, and investment insiders say market changes under health reform could draw even more interest.
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Magazine
Dwindling donations | Even as reform threatens to restrain provider revenue, hospitals and health systems can't count on philanthropy to play a bigger role, thanks to a still-struggling economy
By Melanie Evans | October 11, 2010 | Print Magazine Print Magazine Subscription Details
The weak economy continues to dampen expectations for one major source of capital for hospital construction or pricey technology: philanthropy.
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Magazine
Shift in bond buying | Tax perks for banks behind move in hospital deals
By Melanie Evans | October 04, 2010 | Print Magazine Print Magazine Subscription Details
Banks are buying not-for-profit hospital and health system bonds as healthcare borrowers continue to exit more risky financing.
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News
DaVita to offer $1.45 billion in senior notes
By Jessica Zigmond | October 01, 2010 | Basic Web Basic Web Subscription Details
Renal-care provider DaVita said it intends to offer $1.45 billion in senior notes and intends to use the proceeds to purchase or redeem its outstanding 6 5/8% senior notes that are due in 2013 and 7 1/4% senior subordinated notes due in 2015.
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News
LifePoint to offer $400 million in senior notes
By Vince Galloro | September 20, 2010 | Basic Web Basic Web Subscription Details
LifePoint Hospitals, Brentwood, Tenn., said it is offering $400 million in new senior unsecured notes due in 2020.
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Magazine
Bumpy ride for stocks | But hospital investors see reform as positive
By Vince Galloro | September 20, 2010 | Print Magazine Print Magazine Subscription Details
On the surface, supporters and critics of healthcare reform could cite the performance of hospital stocks this year in their arguments. It just depends on when the argument is being made.
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News
Tenet completes $600 million offering
By Vince Galloro | August 17, 2010 | Basic Web Basic Web Subscription Details
Tenet Healthcare Corp., Dallas, said that it has completed its offering of $600 million in new notes due in 2020 with an interest rate of 8%.
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Magazine
Back in black | Not-for-profits see much better returns in ’09: report
By Melanie Evans | August 09, 2010 | Print Magazine Print Magazine Subscription Details
Not-for-profit hospital and health systems in 2009 regained most of the prior year’s investment losses, but portfolios have not fully recovered and annual returns, on average, have been roughly flat since 2007, according to one snapshot of the industry.
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News
Reform reshaping market for acquisitions by investor-owned companies, Moody's says
By Vince Galloro | August 03, 2010 | Basic Web Basic Web Subscription Details
As proposed deals in Boston, Detroit and Youngstown, Ohio, show, investor-owned hospital companies are interested in markets that don't fit their traditional targets, and healthcare reform is a prime reason, according to a report by Moody's Investors Service.
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News
Financial overhaul bill means more bond-market scrutiny
By Melanie Evans | July 16, 2010 | Basic Web Basic Web Subscription Details
The municipal bond market will face more scrutiny, and oversight will increase for credit analysts and municipal advisers under the financial overhaul bill that cleared Congress.
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News
Vanguard completes $225 million notes sale
By Vince Galloro | July 14, 2010 | Basic Web Basic Web Subscription Details
Vanguard Health Systems, Nashville, said it has completed its sale of $225 million in new notes due in 2018, with an interest rate of 8%.
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News
Vanguard offers new notes to finance DMC deal
By Vince Galloro | June 29, 2010 | Basic Web Basic Web Subscription Details
Vanguard Health Systems, Nashville, said it is offering $225 million of new notes due in 2018 to finance its planned acquisition of six-hospital Detroit Medical Center.
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News
Minn. strike would hit systems' bond ratings: Moody's
By Joe Carlson | June 28, 2010 | Basic Web Basic Web Subscription Details
Wall Street analysts are taking note of the impending labor strike of more than 12,000 hospital nurses in Minnesota, and they don't like what they see.
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Magazine
Risk and reward | In wake of the credit crisis, hospitals and health systems take a hard look at levels of debt and volatile investments in their portfolios
By Melanie Evans | June 21, 2010 | Print Magazine Print Magazine Subscription Details
Hospitals and health systems may have recovered from the acute distress of the credit crisis, but investment and debt strategies that proved riskiest during the market tumult continue to cast a shadow over balance sheets.
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Magazine
Late News: Northwest Community sues former adviser Morgan Stanley
June 21, 2010 | Print Magazine Print Magazine Subscription Details
Northwest Community Healthcare said in a lawsuit its former investment adviser, Morgan Stanley, violated the Illinois hospital’s policy against derivatives to leverage its fixed-income portfolio and concealed how much of the portfolio was invested in risky mortgages. Erica Platt, a...
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News
Tighter disclosure rules for municipal borrowers
By Melanie Evans | May 27, 2010 | Basic Web Basic Web Subscription Details
Not-for-profit hospitals and health systems that finance construction, technology and other capital projects with tax-exempt, or municipal, bonds face expanded disclosure of financial and operating information, starting Dec. 1. The Securities and Exchange Commission voted unanimously to tighten and...
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News
U.S. Renal secures financing for DCA purchase
By Vince Galloro | May 25, 2010 | Basic Web Basic Web Subscription Details
U.S. Renal Care, Plano, Texas, said it has signed a definitive agreement for a new credit facility to finance its purchase of Dialysis Corporation of America, Linthicum, Md.
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News
Accretive Health begins trading on NYSE
By Melanie Evans | May 20, 2010 | Basic Web Basic Web Subscription Details
Accretive Health priced its stock at $12 per share for its first day of trading on the New York Stock Exchange, below the $14 to $16 the revenue-cycle technology company first proposed, but by midday the stock hovered near $13.50.
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News
S&P gives B rating to new Capella debt
By Vince Galloro | May 19, 2010 | Basic Web Basic Web Subscription Details
Standard & Poor's, New York, has given a B rating to $600 million in new debt being raised by Capella Healthcare, Franklin, Tenn., a privately held hospital operator. The debt includes a $100 million asset-backed credit facility and $500 million in unsecured notes.
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Other Coverage
Information
UHS, PCMH approve operation plans for 2011
By Daily Reflector | June 16, 2010
The boards of University Health Systems of Eastern Carolina and Pitt County Memorial Hospital on Tuesday approved fiscal year 2011 operational plans that provide the strategic direction and financial resources needed to guide and fund the health system next year.
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Information
New cancer center gets its funding
By Kansas City (Mo.) Star | May 24, 2010
The University of Missouri’s Board of Curators approved issuing $30 million in revenue bonds to finance construction of a new Ellis Fischel Cancer Center.
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Information
Children's Hospital preps for $342 million bond sale
By Boston Business Journal | May 14, 2010
Children’s Hospital of Boston is preparing to issue nearly $342 million in municipal bonds, in a refinancing move that will allow the institution to continue to capitalize on rock-bottom interest rates.
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Information
Mount Sinai bond rating may improve
By Miami Herald | April 29, 2010
Moody's Investor Services announced Wednesday it is putting Mount Sinai Medical Center's long-term bond ratings on ``watch list for possible upgrade.''
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Information
Akron Children's Hospital keeps strong bond rating
By Akron (Ohio) Beacon News | April 21, 2010
A national debt rating firm has maintained Akron Children's Hospital's strong A1 bond rating and revised the hospital's credit outlook from negative to stable.
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Information
UMC fears for its future under health reform law
By Las Vegas Sun | April 19, 2010
University Medical Center and other public hospitals that serve the uninsured could wind up financially pummeled by the new national health insurance law.
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Information
$1B bankruptcy looms for St. Vincent's
By Crain's New York Business | April 13, 2010
St. Vincent's Hospital has filed a proposed closure plan with the New York State Department of Health. If state officials accept the plan, St. Vincent's will likely file for bankruptcy tomorrow if not earlier, according to a source that has been briefed on the plans by hospital management. The...
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Information
Operating income declines at Detroit Medical Center in 2009, but net income up
By Crain's Detroit Business | April 12, 2010
Two factors that may have contributed to the decision by management and trustees of Detroit Medical Center to seek a sale to for-profit Vanguard Health Systems were the drop in operating income in 2009 and ongoing cash flow problems.
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Information
Hospitals in R.I. losing financial ground
By Providence (R.I.) Journal | April 05, 2010
Rhode Island hospitals have been hit hard by a recession that has shrunk endowments, threatened government aid and brought in more patients who don’t have insurance or can’t pay their bills.
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Information
Bond 'scam' might have victimized 4 agencies
By Pittburgh Tribune Review | April 02, 2010
Three Allegheny County agencies and a Pennsylvania housing agency are possible victims in a nationwide bond-financing, bid-rigging scheme, according to documents filed in a New York federal criminal case.
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Information
Healthcare budget shortfall passed to locals
By Teton Valley (Idaho) News | April 01, 2010
Medicaid and Medicare funds have run out for Idaho's hospitals and nursing homes, due to state budget cuts. Many of these healthcare providers will still provide care to Medicare and Medicaid patients, but the state will not reimburse them for the treatments until Idaho's next fiscal year begins in...
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Information
Cape Cod hospitals seek to boost finances
By Cape Cod Times | March 29, 2010
Faced with a diminishing number of outpatient visits, the parent company of Cape Cod and Falmouth hospitals has launched a marketing campaign to win back consumers
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Information
Kingsburg hospital's demise 'a big ol' complicated mess
By Fresno (Calif.) Bee | March 24, 2010
KINGSBURG, Calif. -- For the past two decades, this quaint Swedish town -- rich in heritage, tradition and pancakes -- has desperately tried to hold on to its half-century-old hospital and all the memories that come with it.
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Information
Rate swap deals cost hospitals millions
By DesMoines (Iowa) Register | March 22, 2010
The parent companies of Des Moines' two largest hospitals bet - and lost - millions of dollars on interest rates during the global financial meltdown in 2008, records show.
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Information
Corporate debt coming due may squeeze credit
By New York Times | March 19, 2010
When the Mayans envisioned the world coming to an end in 2012 — at least in the Hollywood telling — they didn't count junk bonds among the perils that would lead to worldwide disaster. Maybe they should have.
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Information
New Wishard costs fall by $356 milion
By Indianapolis Star | March 15, 2010
A down economy and some federal stimulus funds mean significant savings in the cost of building the $754 million new Wishard hospital complex, according to hospital officials.
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Information
Defaults signal bursting muni junk bubble after surge
By BusinessWeek | March 11, 2010
Investors in search of better returns poured $7.8 billion into high-yield municipal bond funds last year, pushing assets to a two-year high. They may start experiencing losses as early as this year as default risks grow.
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Information
Parkview Community Hospital misses repayment deadline
By Riverside (Calif.) Press-Enterprise | March 09, 2010
Prime Healthcare Services Inc. today is expected to move toward foreclosure against Parkview Community Hospital Medical Center which has been trying for months to secure a loan to pay off its debt.
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Information
Ascension set to sell $670 million
By Bond Buyer | March 08, 2010
St. Louis-based Ascension Health on Wednesday launches the first piece of its $1.34 billion new-money and restructuring deal that will raise funds for projects across its network, while also allowing the system to further reduce risk exposure and lower its maximum annual debt service.
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Information
Voters Approve Hospital Bonds in Western Kansas
By KWCH-TV | March 05, 2010
Improvements will be coming to two western Kansas hospitals, after two special elections Tuesday.
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