WellSpan Health today announces both Moody’s Investor Services and Fitch Ratings have affirmed the health system’s bond rating as stable, despite the ongoing COVID-19 pandemic and its impact on healthcare. Moody’s affirmed the “Aa3” and “Aa3/VMIG 1”, while Fitch affirmed WellSpan’s ‘AA-‘ rating.
“This affirmation, amidst a COVID-19 pandemic that has strained health systems across the country, confirms WellSpan Health is in a leading market position with a strong operating platform and continued strategic investments and partnerships to enhance care for our patients,” said Laura Buczkowski, senior vice president and chief financial officer, WellSpan Health. “Our growing care delivery system has focused on integration across eight hospitals, a large medical group and aligned provider network which continues to position the health system for success in our competitive market here in South Central Pennsylvania.”
Fitch Ratings notes WellSpan’s strategic partnerships, as well as its recent growth and strong network of providers as reasons for the rating. Fitch expects WellSpan’s market position to be further advanced by its strong system governance, enhancements in tele-health and population health and important physical plant modifications which stimulate growth within the health system. You can read the full details of the Fitch rating here.
Moody’s Investor Services also noted WellSpan’s leading market position, investment in care expansion, and strong physician recruitment as support for the bond rating and stability. WellSpan will continue to benefit from a consolidated management structure and a seasoned executive team. Their report can be read here.
“The laser focus of our board and senior management team related to managing COVID-19 while also growing into new markets with key partners has positioned WellSpan to weather the volatile industry environment,” said Roxanna Gapstur, Ph.D., R.N., president and chief executive officer, WellSpan Health.
In 2021, WellSpan has expanded care options and services across current and new areas of South Central Pennsylvania, with standouts such as the opening of the WellSpan Heart & Vascular Center, the extensive expansion of the WellSpan York Cancer Center, an enhanced oncology collaboration with Johns Hopkins Medicine and key physician specialty acquisitions in Chambersburg, Carlisle and York.
To learn more about recent growth and partnerships, visit www.WellSpan.org/News.