Lahey Health, Lahey Hospital & Medical Center and Winchester Hospital Receive High Marks from Bond Rating Agencies
Winchester Hospital receives an upgraded “A” rating from Standard & Poor’s, the second upgrade since affiliating with Lahey Health in July 2014
September 21, 2015
BURLINGTON, MA (September 21, 2015) – Lahey Health System is proud to announce that its A+ credit rating on behalf of the Lahey Hospital & Medical Center has been affirmed by Standard and Poor’s (S&P); and that Lahey Hospital & Medical Center's A+ rating from Fitch Ratings has also been affirmed.
As support for the rating affirmations, both rating agencies cited the strong growth in patient volume, solid liquidity reserves, conservative debt profile, leading presence in the market, and the strengths of the Lahey Health model of a lower cost, highly integrated and coordinated health care delivery system. S&P further noted the desirable revenue diversity within the System, which includes an academic medical center, community hospitals, physician clinic, ambulatory care facilities, long term care facilities, and behavioral health programs and facilities.
Additionally, Lahey Health is proud to announce that S&P upgraded its subsidiary, Winchester Hospital, to an ‘A’ from an ‘A-’ , citing its high strategic value in the Lahey Health System, its geographic significance to the market, its solid profitability, and equal board representation on the Lahey Health System board. This is the second rating upgrade for Winchester Hospital since it joined Lahey Health just over one year ago.
“These ratings reflect positively on the patient-centric vision of the Lahey Health System and the deep commitment by our physicians, nurses and full staff to delivering on that vision,” said Dr. Howard Grant, President and Chief Executive Officer of Lahey Health. “The ratings substantiate our healthy position in the market and continued growth, and validate our commitment to providing patients with the highest quality of care at a lower cost in their own communities."
Ann-Ellen Hornidge, Chair of the Lahey Health System Board of Trustees believes that these ratings provide endorsement for Lahey Health’s philosophy of patient care. “We are very pleased to receive recognition from the rating agencies of the favorable strategic positioning and financial strength of the Lahey Health System and its affiliates."
About Lahey Health
Lahey Health is what's next in healthcare, providing a full continuum of integrated health services close to where you live or work. It is comprised of nationally recognized, award-winning hospitals—including an academic hospital and medical center, and community hospitals—primary care providers, specialist physicians, behavioral health services, post-acute programs such as home health services, skilled nursing and rehabilitation facilities, and senior care resources located throughout northeastern Massachusetts and southern New Hampshire.
Lahey Health offers nearly 1,000 locally based physicians providing clinical excellence and an exceptional patient experience in adult and pediatric primary care and every medical specialty, including kidney and liver transplantation; neurosurgery, cancer, cardiovascular and orthopedic medical and surgical care; local emergency and trauma care; urological surgery; chronic disease prevention and health management; and pediatric emergency, newborn and inpatient care provided in collaboration with Boston Children's Hospital physicians.
Lahey Health includes Lahey Hospital & Medical Center—a teaching hospital of Tufts University School of Medicine—and Lahey Clinic Physician Group with practices in Burlington, Peabody and other locations throughout northeastern Massachusetts and southern New Hampshire; Beverly Hospital; Addison Gilbert Hospital in Gloucester, Mass.; Winchester Hospital; Lahey Health Senior Care and Lahey Health Behavioral Services as well as more than 30 primary care physician practices and multiple outpatient and satellite specialty care facilities.
Together, we are making innovative, integrated healthcare more personal and more accessible. For more information, visit LaheyHealth.org and its member websites Lahey Hospital & Medical Center, Beverly Hospital, Winchester Hospital, and Lahey Health Behavioral Services.