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Butler Health System’s credit rating was further downgraded this week by rating agency Fitch. The system, which combined with Greensburg-based Excela Health at the beginning of the year to form Independence Health System, Monday, Dec. 12, had its rating lowered one notch from BBB to BBB- with a Negative Outlook. ....
Westmoreland County-based Excela Health, which merged with Butler Health System in January to form Independence Health, lost $36.2 million in the fiscal year ending June 30, according to a new disclosure report. That’s $15 million more than losses reported in the previous fiscal year ending in June 2022, when it ....
The merger of Butler Health System with Excela Health was supposed to take the local medical groups and forge them into a larger, stronger entity that would survive and serve. The two officially became one entity in January. In May, it adopted a new name: Independence Health System. A new ....
Butler Health System’s credit rating was downgraded this week. The system, which combined with Greensburg-based Excela Health at the beginning of the year to form Independence Health System, had its rating downgraded three notches from A to BBB on June 26. Excela and Butler Health are rated separately. Fitch previously ....