Butler Health System Financial Problems
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Fitch Revises Rating Watch on Butler Health System (PA) to Negative
(2 days ago) Fitch Ratings - Austin - 22 Feb 2023: Fitch Ratings has revised the Rating Watch Evolving on Butler Health System (PA)'s (BHS) 'A' Issuer Default Rating (IDR) and revenue rating on its $79 million revenue … See more
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Butler Health System losses nearly doubled in 2023, according to
(5 days ago) WEBButler Health System’s losses almost doubled in the fiscal year ending June 30, according to newly released financial documents. The system, which in January merged with Excela Health to create
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Fitch Downgrades Butler Health (PA) to 'BBB'; Maintains Rating …
(9 days ago) WEBButler Health System had experienced operating margin compression and balance-sheet deterioration in recent years, including before the COVID-19 pandemic. Butler's financial profile reflects Fitch's expectations for operating risk and liquidity and leverage metrics that provide a weak cushion in Fitch's forward-looking scenario analysis
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Butler Health System losses widen to $43.2 million as of June 30
(1 days ago) WEBFor the second year in a row, Independence Health System has lost more money than the previous year. The Butler portion of the health system on Tuesday, Nov. 7, reported an operating loss of $43.2 million for the year ending June 30 — compared to the $22.7 million loss from a year ago — as the system of hospitals and doctors’ offices …
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Newly merged Butler Health reports operating, net losses in recent …
(4 days ago) WEBButler Health reported annual revenues of $472.4 million based on fiscal 2022, which ended June 30. Days of cash on hand fell from 170.3 as of June 30 to 119 at Dec. 31. Days of cash on hand fell
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Butler Health System assures patient care won’t change despite
(6 days ago) WEB“Many synergies were identified that led both predecessor health systems to approve the merger. In the health care industry, being larger creates scale, which can translate into improved financial performance.” Butler Health System and Excela Health officially merged this January, after plans for the merger were announced in June 2022.
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Excela-Butler health system sees further financial losses
(8 days ago) WEBThe merged Butler and Excela health systems reported losses of more than $62 million over the nine-month period ending March 31, according to disclosure reports released this week. The combined
https://triblive.com/local/westmoreland/excela-butler-health-system-sees-further-financial-losses/
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Butler Health revised to negative rating following debt coverage …
(2 days ago) WEBButler Health reported an operating loss of $16.6 million in its final quarter as a separate system. The merger with Excela created a five-hospital system serving approximately 750,000 patients
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Butler Health System's bond rating skids into junk status
(7 days ago) [email protected]. Apr 2, 2024. 10:11 AM. Citing ongoing financial stress, Moody’s Ratings has downgraded Butler Health System’s bond rating into junk status, the third ratings cut by
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Losses continue for recently-merged Butler Health System
(4 days ago) WEBThe Butler Health System’s continuing disclosure report for the third quarter of 2023 showed the system sustained an operating loss of $12.97 million. Over the same period a year ago, the system lost more than $1.6 million. Excela Health, the Westmoreland County-based system that merged with Butler Health to created …
https://www.butlereagle.com/20231129/losses-continue-for-recently-merged-butler-health-system/
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Merged Butler/Excela system facing significant cuts, CEO warns
(2 days ago) WEBThe newly merged entity created out of the deal between Butler (Pa.) Health System and Greensburg, Pa.-based Excela Health is in financial difficulty and must cut costs, president and CEO Ken
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Fitch Downgrades Butler Health System (PA) Rev Bonds to 'A'; …
(Just Now) WEBFinancial Profile: 'a' Butler Health System (PA): Governance Structure: 4 . Except for the matters discussed above, the highest level of ESG credit relevance, if present, is a score of 3 - ESG issues are credit neutral or have only a minimal credit impact on the entity, either due to their nature or the way in which they are being managed
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NJ health commissioner wants hospitals to make financial …
(9 days ago) WEBNew Jersey's state health commissioner put forth a proposal that would require all hospitals in the state to publicly disclose their financial data, the Newark Star-Ledger reported.. Should
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Cyberattack disrupts operations at major US health care network
(6 days ago) WEBCNN —. A cyberattack has disrupted “clinical operations” at major health care nonprofit Ascension, forcing it to take steps to minimize any impact to patient care, an Ascension spokesperson
https://www.cnn.com/2024/05/08/tech/cyberattack-disrupts-healthcare-network/index.html
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Butler Health System credit rating continues to slip downward
(2 days ago) WEBIndependence Health System has faced a slew of financial issues since its founding in January. Butler Health lost $43.3 million and Excela lost $36.2 million , for a total of more than $79 million
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NJ nursing home company in Wood-Ridge faces financial trouble
(Just Now) WEB0:05. 0:25. A Wood-Ridge-based company that owns or operates more than 100 nursing homes around the country has failed to make payroll in Nebraska and Kansas, leading regulators to take over 36
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Steward Health Care says it is selling the 30+ hospitals it operates
(7 days ago) WEBUpdated 12:20 PM PDT, May 8, 2024. Steward Health Care said it plans to sell off all its hospitals after announcing this week that it filed for bankruptcy protection. The Dallas-based company, which operates more than 30 hospitals nationwide, said it does not expect any interruptions in its hospitals’ day-to-day operations, which the company
https://apnews.com/article/steward-hospital-bankruptcy-264edc6309f7b9eaa309c4113211ce30
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Fitch Places Butler Health System (PA) Revs on Rating Watch …
(3 days ago) WEBButler Health System (PA) - ESG Navigator. Fitch Ratings - Austin - 08 Sep 2022: Fitch Ratings has placed on Rating Watch Evolving the 'A' Issuer Default Rating (IDR) and revenue rating on the following series of bonds issued by the Butler County Hospital Authority on behalf of Butler Health System, PA (BHS): --$79,000,000 revenue bonds, …
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Premium Subsidies for Employer-Sponsored Health Coverage
(6 days ago) WEBRenewed Interest in Premium Assistance Programs. tate and local governments are beginning to develop subsidy programs to make employer-sponsored health insurance more affordable for the working uninsured. 1 HSC identified such efforts in half of its 12 study sites during its 2000-01 site visits (see Table 1).Some of these programs, such as …
http://www.hschange.org/CONTENT/393/
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Steward Health Files Chapter 11 After Medical Properties Deal
(2 days ago) WEBIn January, Medical Properties provided Steward Health with a $60 million bridge loan and deferred some of its rent arrears. Medical Properties fell as much as 11.5% in Monday trading as of 11:20
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Butler Health System bond rating lowered – Butler Eagle
(Just Now) WEBButler Health System bond rating lowered. Fitch Ratings, a financial services company based in New York, has revised a rating for Butler Health System’s $79 million revenue bonds to negative, after the system breached its rolling 12-month debt service coverage covenant with Truist Bank. Financial results through Dec. 31 suggest …
https://www.butlereagle.com/20230228/butler-health-system-bond-rating-lowered-2/
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Fitch Affirms Butler Health System's (PA) Revs at 'A-'; Outlook Stable
(9 days ago) WEBWed 21 Nov, 2012 - 11:46 AM ET. Fitch Ratings-New York-21 November 2012: Fitch Ratings has affirmed the 'A-' rating on the following Butler Health System (BHS) bonds issued by Butler County Hospital Authority: --$75.9 million series 2009B. The Rating Outlook is Stable. SECURITY: The bonds are secured by a pledge of gross revenues, a …
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