![]() ![]() It could also impact future borrowing for the organization.īutler Health System has been suffering financially over the last couple of years, with a reported loss of $23 million in operating revenue in the second half of last year. If Butler Health System defaults on the loan, they may have to pay back the loan sooner than anticipated. A third Southwestern Pennsylvania health care conglomerate is in the works, as Excela Health and Butler Health System on Wednesday announced an intent to merge. A mental health crisis can be a challenging and overwhelming experience for anyone. One of the stipulations included a requirement for Butler Health System to have a minimum of 90 days cash on hand. Butler Health System and Excela Health are now Independence Health System. 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. A third Southwestern Pennsylvania health care conglomerate is in the works, as Excela Health and Butler Health System on Wednesday announced an intent to merge. “We are addressing these issues in a prudent and productive manner.” Butler Health System is expected to merge with Excela Health, officials from the health systems announced Wednesday. Appointments can be made with BHS Cardiothoracic Surgery by calling 72. “The rating agency’s report is a straight forward review of our situation and is reflective of the challenges all providers are facing in today’s healthcare economics,” Butler Health System spokesperson Melissa Forster said in a statement. The BHS Cardiothoracic Surgery practice is located at the BHS Crossroads Campus on Oneida Valley Road but they also have locations at BHS facilities in Clarion, Seneca, and Ford City. The group says the negative rating watch follows the violation of a loan agreement. ![]() The Butler- and Greensburg-based health systems. A new report is downgrading the bond rating of Butler Health System.įitch Ratings is a leading American credit agency and they recently issued a negative bond rating against the local health care group. Butler Health System and Excela Health are now Independence Health System. ![]()
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