Huss said the Fitch Rating also reflected the potential of the merger, which was positive. In 2019, BHS was part of a merger that brought Clarion Hospital into its network, which is a 70-bed facility providing 24-hour emergency service among other features.Īccording to Fitch Ratings, the merger would create a new five-hospital health system with combined board representation and more than $1 billion of total annual revenues. It continues to hire and fill vacancies, and it successfully negotiated contracts with its represented nurses and engineers over the past few months.”Įxcela Health is a 578-bed, not-for-profit health system in Westmoreland County that includes three licensed, acute-care hospitals - Excela Frick Hospital in Mount Pleasant, Excela Latrobe Hospital in Latrobe and Excela Westmoreland Hospital in Greensburg.īutler Memorial Hospital is a 326-bed acute-care facility with a broad range of surgical, medical, emergency and psychiatric services. “BHS has maintained staffing far better than most. “Fitch wants to see what happens as part of its due diligence process,” Huss said. He also said the rating given by Fitch has no bearing on client experience. Through the nine months ending March 31, 2022, the system's operating loss was $8.2 million.Īccording to Huss, Fitch isn’t updating its “A” rating of outstanding BHS bonds until merger discussions with Excela are complete. The rating came after the health system reported to Fitch an operating loss of $11.2 million for the 2021 fiscal year. Butler Health System and Excela Health finalized their merger on January 1, creating a new five-hospital system in western Pennsylvania, according to an announcement released this week. "We can now continue our focus on integrated governance, executive structure and other elements that are key to effective and efficient delivery of care.Last week, Fitch Ratings, a financial services company based in New York, issued a rating watch for BHS related to $79 million in revenue bonds. "It is important to underscore that a merger process of this magnitude is very complex and requires an approach that is highly thoughtful and diligent," Mr. The two plan to share more details in the coming weeks.
Ken DeFurio, who serves as president and CEO of Butler Health System, will lead the newly created system, reported Jan. John Sphon, CEO of Excela Health System, will retire in March, staying on as an adviser for several months before moving to serve the health system as a trustee. With 7,300 employees and more than 1,000 practitioners, it is expected to draw $1 billion in revenue. The merger has been in the works since June. The definitive agreement and legal documentation was sent to state and federal governments for review on Jan. Past Issues - Becker's Clinical Leadership & Infection Controlīutler (Pa.) Health System and Greensburg, Pa.-based Excela Health System have finalized their merger, creating a five-hospital system that will serve about 750,000 patients.Current Issue - Becker's Clinical Leadership & Infection Control.Becker's Cardiology + Heart Surgery Podcast.Both providers announced they'll be merging. (KDKA) Excela Health and Butler Health System are on the way to becoming one. Becker's Ambulatory Surgery Centers Podcast Novem/ 4:51 PM / CBS Pittsburgh GREENSBURG, Pa.Becker’s Digital Health + Health IT Podcast.Digital Innovation + Patient Experience and Marketing Virtual Event.Conference Reviewers: Request for More Information.The Future of Dentistry Roundtable October.The two organizations signed a letter of intent to merge into one health system. 29th Annual Meeting - The Business & Operations of ASCs PITTSBURGH (KDKA) - Butler Health System and Excela Health are merging into a new health system.8th Annual Health IT + Digital Health + RCM Conference.Clinical Leadership & Infection Control.
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