“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. It also serves parts of Fayette and Indiana counties.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. The new health system will have more than 7,300 employees and 1,000 physicians, who serve a population of about 750,000.Įxcela Health has 4,300 employees and credentials more than 700 physicians and allied health professionals, according to its website. Like BHS, Excela Health also boasts an extensive list of facilities and services, including two freestanding outpatient surgery centers, home and hospice care services, physician practices and a medical equipment company, among others. In 2019, BHS was part of a merger that brought Clarion Hospital into its network.Ĭlarion Healthcare System is made up of four affiliates, all located in Clarion, including Clarion Hospital, a 70-bed facility providing 24-hour emergency service among other features. Once complete, the merger will bring two more hospitals into the same network, including Butler Memorial and Clarion hospitals.īutler Memorial Hospital is a 326-bed acute-care facility with a broad range of surgical, medical, emergency and psychiatric services. It will be the only one that is community-based and locally controlled, he said.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.Įxcela Health serves more than 23,000 inpatients and 700,000 outpatients and sees 100,000 emergency visits annually. “We are pleased that this partnership amplifies our ability to provide tertiary care, yet remain physician led and community focused,” DeFurio said.Ĭombined, the new health system would be the third-largest in Western Pennsylvania. Ken DeFurio, president and chief executive officer at BHS, said the move will allow both systems to add and improve clinical offerings and services, improve efficiency, reduce costs and provide higher quality care to patients. In doing so, we can enhance access to care, decrease the cost of care and continue to focus on providing improved experiences and outcomes for patients,” said John Sphon, chief executive officer at Excela. “We believe strongly that our new partnership will extend our intellectual and financial capital. The boards of trustees of Butler Health System and Excela Health have entered into a “letter of intent” to merge the organizations, according to a news release. File photoīutler Health System is expected to merge with Excela Health, officials from the health systems announced Wednesday. Butler Health System is expected to merge with Excela Health, according to BHS officials.
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