Moody’s Investor Services has issued a stable outlook for WellSpan Health’s bond rating, pointing to a ‘distinctly leading market position’ as reasoning to affirm the healthsystem’s rating, despite the ongoing challenges facing the healthcare industry. Moody’s affirmed the “Aa3” and “Aa3/VMIG 1 revenue bonds” rating for the second year in a row.
“This affirmation of our bond rating and stable outlook confirms WellSpan’s leading position in South Central Pennsylvania. Although WellSpan is facing the ongoing impacts of COVID-19 with growing expense inflation,” said Laura Buczkowski, executive vice president and chief financial officer, WellSpan Health. “Moody’s assessment reinforced WellSpan is well-positioned to optimize our performance while providing the best quality, experience and lowest cost for our patients.”
In addition to its leading market position, Moody’s Investor Services noted WellSpan’s important financial stewardship and savings initiatives and an experienced management team who can ensure execution of improvements facilitating sound operating cash flow margins when compared to peers, with profit margin and balance sheet metrics expected to strengthen in fiscal year 2024.
“We continue to disrupt and transform today’s healthcare system to exceed the expectations of our communities. The entire WellSpan team of 20,000 play an active role in driving our outstanding clinical performance and wise stewardship of resources,” said Roxanna Gapstur, Ph.D., R.N., president and chief executive officer, WellSpan Health.
WellSpan’s recent partnerships with Rite Aid, Truveta, General Catalyst and Helix, among others, highlight the organization’s commitment to innovative approaches and vision to reimagine healthcare. Continued investments in critical infrastructure projects such as the expansion of WellSpan York Hospital, as well as expansion of services for the organization’s comprehensive behavioral health network demonstrate a focus on supporting the health of the communities in South Central Pennsylvania.
To learn more about recent growth and partnerships, visit www.WellSpan.org/News.
