S&P affirms Bellin Health’s bond rating
GREEN BAY – Standard & Poor’s Rating Service recently affirmed Bellin Health’s “A” long-term bond rating, noting the health system’s stable outlook.
In 2010, S&P raised its rating for Bellin to A from A-, and graded the health system’s long-term future as stable. In 2006, S&P upgraded Bellin to an A- from BBB+.
In its latest ratings report on Bellin Health, S&P noted, among other things, the Green Bay-based health system’s:
• Improved business position stemming from diversified and growing services, and its stronger presence in the overall service area
• Moderately low debt levels and absence of plans to issue additional debt
• Favorable payor mix, with a good percentage of net revenue from commercial payors
• Proactive management team that is executing various strategies to position the health system to benefit from the reimbursement changes of health care reform
In explaining its “stable” outlook declaration for Bellin, S&P said the outlook “reflects our view that Bellin will continue to move forward with its strategic plan and prepare for the effects of the health care reform bill while operating profitably and further strengthening its balance sheet. We also anticipate that the organization’s business position will improve as a result of its service line additions, greater patient access, and engaged medical staff.”
George Kerwin, president and chief executive officer at Bellin Health, said the findings in S&P’s report highlight the Green Bay-based health system’s continued and focused efforts to offer quality and affordable health care services to residents across Northeastern Wisconsin and Michigan’s Upper Peninsula.
“This affirmation from Standard & Poor’s is a solid indication that our efforts to provide high-quality, affordable services to the Northeastern Wisconsin and Upper Peninsula communities remain properly aligned with the needs of these communities, and our efforts to control our internal costs continue to translate to high-quality care at an affordable rate for our patients and their families,” Kerwin said.
About Bellin Health
Bellin Health, http://www.bellin.org is an, integrated health care delivery system based in Green Bay, Wis. It has serviced people in Northeast Wisconsin and Michigan’s Upper Peninsula since 1908. It is comprised of Bellin Hospital, Bellin Psychiatric Center, 26 Bellin Health Family Medical Center primary care physician clinics, and several retail health clinics known as Bellin Health FastCare. Bellin also operates Bellin Health Partners, a physician-hospital organization with more than 200 specialty physician members, the Bellin Health Oconto Hospital, a critical care access hospital in Oconto, Bellin Fitness Center with four locations, and Bellin College. With its 3,227 employees, Bellin Health is known for its emphasis on preventive health care and is the region’s leader in cardiac, orthopedics, sports medicine, digestive health, mental health, and primary care medicine.