Elliot Hospital Receives Bond Rating Upgrade From Moody’s Investors Service
MANCHESTER, N.H.--(BUSINESS WIRE)--Feb 12, 2020--
Elliot Hospital, a founding member of SolutionHealth, has received a bond rating upgrade from Moody’s Investors Service. The hospital’s revenue bond rating improved to A3 with a stable outlook from Baa1.
“This upgrade reflects our success in demonstrating sound financial performance and debt service coverage, while managing various service investments and growth strategies without compromising fiscal responsibility,” says Mike Turilli, Senior Vice President of Finance and Chief Financial Officer of Elliot Health System.
Moody’s report highlighted the success of several Elliot Hospital services, including trauma and the neonatal intensive care, and planned expansion projects. The report also noted new synergies that are being realized as a result of the hospital’s affiliation with SolutionHealth and associated collaboration with Southern New Hampshire Health.
“To receive an upgraded bond rating affirms that our strategy to invest in key clinical services, enhance our facilities, and pursue collaborations through SolutionHealth is having a positive impact,” says Greg Baxter, MD, President of Elliot Health System. “This strategy will help us to deliver on our goals to continually improve quality of care, expand access, and lower costs.”
About Elliot Health System
Elliot Health System is a non-profit organization serving the healthcare needs of the community since 1890. The largest provider of comprehensive healthcare services in Southern New Hampshire, Elliot Hospital, a 296-bed acute care facility and the first community hospital in the state, serves as the cornerstone of the health system. Elliot is home to Manchester’s designated Regional Trauma Center, Elliot Breast Health Center, Elliot Urgent Care, a Level 3 Newborn Intensive Care Unit, Elliot Medical Group, Elliot Regional Cancer Center, Elliot Senior Health Center, Visiting Nurse Association of Manchester and Southern New Hampshire, 1-Day Surgery Center, Elliot Memory & Mobility Center, NH Arthritis Center, Elliot Retail Pharmacy, Elliot Medical Centers in Bedford, Londonderry, Hooksett, and The Elliot at River’s Edge.
SolutionHealth is a highly coordinated community-based regional health care network founded by Elliot Health System and Southern New Hampshire Health. Its purpose is to better serve the health care needs and interests of southern New Hampshire as a region by improving and increasing access, quality, value, and community benefits.
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KEYWORD: NEW HAMPSHIRE UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: MANAGED CARE HOSPITALS HEALTH
SOURCE: Elliot Health System
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PUB: 02/12/2020 08:32 AM/DISC: 02/12/2020 08:32 AM