![]() The transaction is expected to close no later than May 2, 2022.There are a number of other factors that support the Baa1 rating, including NMH's role as an essential provider in Minneapolis. Overall, the transaction will not weaken NMH's (and by extension, MGH's) current rating. Offsetting the dilution in balance sheet measures are a number of benefits that will result from the transaction, including: the elimination of the annual distribution to FHS, which over the last 5 years has average $7 million per year the ability to exert full control over the facility, including decisions relating to capital investment and the ability to fully control certain competitive decisions. The net decrease of liquidity is expected to be approximately $45 million, equal to approximately 10% of total unrestricted cash and investments as of Q3 2021 (excluding Medicare advance payments and deferred payroll tax). In November 2021, NMH closed on the sale of its reference lab business to Lab Corp which will serve to offset a portion of the purchase price of the minority interest in MGH. This list is an integral part of this Press Release and identifies each affected issuer.RATINGS RATIONALEThe affirmation of the Baa1 reflects the expected maintenance of liquidity and balance sheet measures that are consistent with the rating category, despite the net decrease in liquidity resulting from North Memorial Health Care's (NMH) expected purchase of Fairview Health Services' (FHS) 25% (A3 Negative) ownership interest in Maple Grove Hospital (MGH). The outlook remains negative.Please click on this link for the List of Affected Credit Ratings. The rated entities have a combined $191 million of debt outstanding. The guarantee is expected to increase to 100% no later than May 2, 2022, which is reflected in this rating action. NMH currently guarantees 75% of the annual debt service of MGH. There is no way to 'opt out' or 'suppress' the NPPES record data for health care providers with active NPIs.Rating Action: Moody's affirms North Memorial Health Care's (MN) (dba North Memorial Health) and Maple Grove Hospital's (MN) Baa1 outlook negativeGlobal Credit Research - New York, Ma- Moody's Investors Service has affirmed the Baa1 on North Memorial Health Care's, MN (NMH) and Maple Grove Hospital's, MN (MGH) outstanding bonds (including MGH's series 2017). The information disclosed on the NPI Registry are FOIA-disclosable and are required to be disclosed under the FOIA and the eFOIA amendments to the FOIA. Our Data: Information on is built using data sources published by Centers for Medicare & Medicaid Services (CMS) under Freedom of Information Act (FOIA). Covered health care providers and all health plans and health care clearinghouses must use the NPIs in the administrative and financial transactions adopted under HIPAA (Health Insurance Portability and Accountability Act). The NPI must be used in lieu of legacy provider identifiers in the HIPAA standards transactions. NPI Number: The National Provider Identifier (NPI) is a unique identification number for covered health care providers. Participating providers have signed an agreement to accept assignment for all Medicare-covered services. Most doctors, providers, and suppliers accept assignment, but you should always check to make sure. Medicare Assignment: Assignment means that your doctor, provider, or supplier agrees (or is required by law) to accept the Medicare-approved amount as full payment for covered services. This program also covers certain younger people with disabilities (who receive Social Security Disability Insurance - SSDI), and people with End-Stage Renal Disease (permanent kidney failure requiring dialysis or a transplant, sometimes called ESRD. Medicare Program: Medicare is a federal government program which provides health insurance to people who are 65 or older.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |