www.fitchratings.com Open in urlscan Pro
2600:9000:2057:3a00:9:b352:9f80:93a1  Public Scan

Submitted URL: https://beckershealthcare-news.com/portal/wts/uemcnkmcjSDba-jyce%7CBmjDPF8%7Cc
Effective URL: https://www.fitchratings.com/prospect/healthcare?utm_source=beckers_healthcare&utm_medium=referral&utm_campaign=corpadvertising
Submission: On April 25 via manual from US — Scanned from DE

Form analysis 0 forms found in the DOM

Text Content

CONTENTS

 * 00Back to Top
 * 01Healthcare & Pharma
 * 02Inform the Market
 * 03Observable Value
 * 04Enhance Market Access
 * 05Approach to ESG
 * 06Coverage and Research
 * 07Events
 * 08Ratings Criteria & Process
 * 09Navigator Companion
 * 10Business Contacts
 * 11Sector Analysts


RESOURCES

 * Download Brochure
 * Healthcare & Pharma
 * Credit Outlook 2022


FITCH WIRE

 * Fitch Rtgs: US P/C Insurance Loss Reserves Allay Near-Term Inflation Concerns
 * Fitch Ratings: Global Transport’s Role, Demand Lessen Climate Vulnerability
 * Fitch Rtgs: Medium-Term Impact Is Key if MDBs Lessen Shareholders’ Capital
   Role
 * Fitch Ratings: Opaque Disclosure Weakens Confidence in China Developers
 * Fitch Rtgs: US Healthcare’s Cyber Risk Vulnerability Is Rising
 * Fitch Ratings: Slow Recovery for China New Housing Sales After 1Q22 Trough
 * Fitch Ratings: Higher Fuel Costs Could Test Resilience of India ABS
   Transactions
 * Fitch Rtgs: Regulatory Uncertainty Persists with Mexican Energy Reform
   Rejection
 * Fitch Rtgs: Stagflation Would Pose Unique Challenges Across US Corporate
   Sectors
 * Fitch Rtgs: Public Power Cyber Defenses Hardened Against Rising Threats
 * Fitch Ratings: UK Retail CMBS Ratings Are Still Under Pressure
 * Fitch Ratings: Rising Prepayments to Support Iberian Mortgage Performance

More




THE FITCH RATINGS EXPERIENCE: HEALTHCARE



Fitch’s analytical excellence, sector expertise, “rating-through-the cycle”
approach, and strong business relationships built over the years with key market
participants and decision makers have led to continued growth in Fitch’s
coverage of the healthcare sector.



Thinking of Being Rated?Rating Process



01HEALTHCARE & PHARMA




02INFORM THE MARKET




03OBSERVABLE VALUE




04ENHANCE MARKET ACCESS




05APPROACH TO ESG




06COVERAGE AND RESEARCH

 * AgilentTechnologies, Inc.
 * AmerisourceBergenCorp.
 * Amgen Inc.
 * AstraZeneca PLC
 * athenahealth Group Inc.
 * Avantor,Inc.
 * BauschHealth Companies Inc.
 * BaxterInternational Inc.
 * Bayer AG
 * Bayou Topco, Inc. (Cordis Corp.)
 * Becton,Dickinson & Company
 * Bio-RadLaboratories, Inc.
 * BostonScientific Corporation
 * Bristol-MyersSquibb Company
 * Cardinal Health,Inc.
 * Community HealthSystems, Inc.
 * Elanco AnimalHealth Inc.
 * Express Scripts,Inc.
 * Fresenius SE &Co. KGaA
 * Gainwell Acquisition Corp.
 * GlaxoSmithKlinePLC
 * GlenmarkPharmaceuticals Ltd
 * HCA Inc.
 * Healthcare Royalty, Inc.
 * HikmaPharmaceuticals
 * ICU Medical, Inc.
 * Illumina, Inc
 * Imprivata
 * Inovie Group
 * Jazz Pharmaceuticals, Inc.
 * JubilantPharma Ltd.
 * McKesson Corp.
 * MedAssets Software Intermediate Holdings, Inc.
 * Merck & Co., Inc.
 * Mozart Debt Merger Sub Inc. (Medline)
 * Novartis AG
 * Owens & Minor,Inc.
 * P&L Development,LLC
 * Padagis LLC
 * PerkinElmer,Inc.
 * Perrigo Company plc
 * Pfizer Inc.
 * PrimeHealthcare Services, Inc.
 * QuestDiagnostics Inc.
 * Roche HoldingLtd
 * RoyaltyPharma
 * Sanofi SA
 * Steris Plc
 * Team HealthHoldings, Inc.
 * TevaPharmaceutical Industries Ltd.
 * ThermoFisher Scientific Inc.
 * Universal HealthServices, Inc.
 * Upjohn Inc. (Viatris)
 * Verscend Intermediate Holding Corp. (Cotiviti)
 * Waystar (Navicure)
 * ZimmerBiomet Holdings, Inc.


RECENT HEALTHCARE INDUSTRY RESEARCH & REPORTS

 * February 2022: Global Big Pharma and Biotech - Peer Review
 * December 2021: Fitch Ratings 2022 Outlook: Global Big Pharma & Biotech
 * December 2021: Fitch Ratings 2022 Outlook: U.S. Healthcare and
   Pharmaceuticals
 * November 2021: Spotlight: Pharma Innovation and Covid-19 Vaccines
 * November 2021: Healthcare, Food, Beverage and Consumer Bankruptcy Enterprise
   Values and Creditor Recoveries (2021 Fitch Case Studies)
 * July 2021: US Healthcare System Faces Long-Term Cost Implications from
   Covid-19
 * July 2021: What Investors Want to Know: An Overview of Healthcare IT
 * July 2021: What Investors Want to Know: Biosimilars in the U.S. Marketplace
 * January 2021: What Investors Want to Know: U.S. Healthcare in 2021


FITCH WIRE

 * February 2022: Global Pharma and Biotech Pivots Towards R&D Productivity
 * December 2021: Innovation Drives Growth in Global Big Pharma & Biotech
 * November 2021: US Drug Price Reform Would Affect Pharma Ratings Longer Term
 * November 2021: Global Pharma’s Portfolio Repositioning Continues With J&J
   Split
 * November 2021: Economic Models, Patent Protection Key for Pharma Innovation
 * August 2021: Sustained Vaccine Demand Will Support Pharma Revenue Growth
 * February 2021: Pandemic Fallout to Delay US Drug Price Reform, Biosimilars
   Uptake
 * January 2021: US Medical Device, Diagnostics Healthcare M&A Poised to
   Increase




07EVENTS

HEALTHCARE 2021: POTENTIAL CREDIT IMPLICATIONS OF THE NEW NORMAL

MAR 05, 2021 | 11:00 - 12:00 New York
Webinar




OUTLOOK 2021 LATIN AMERICA

JAN 20, 2021 | 09:00 - 12:00 New York
Webinar




OUTLOOK 2021 ASIA PACIFIC

JAN 19, 2021 | 09:00 - 12:00 Singapore
Webinar




OUTLOOK 2021 NORTH AMERICA

JAN 13, 2021 | 09:00 - 12:00 New York
Webinar




OUTLOOK 2021 EUROPE

JAN 12, 2021 | 09:00 - 12:00 New York
Webinar




2021 ANNUAL HEALTHCARE SYMPOSIUM

JAN 07, 2021 | 10:00 - 11:30 New York





HEALTHCARE IN CONVERSATION: THE PATH FORWARD IN 2022

JAN 05, 2022 | 14:00 - 15:00 New York
Webinar







08RATINGS CRITERIA & PROCESS

Video Player is loading.
Play Video
Play
Mute

Current Time 0:00
/
Duration 11:36
Loaded: 1.41%


00:00
Stream Type LIVE
Seek to live, currently behind liveLIVE
Remaining Time -11:36
 
1x
Playback Rate

Chapters
 * Chapters
 * Introduction, selected
 * Key Rating Drivers
 * Navigator Systems
 * Dealing with Cycles
 * Country Risks and Operating Environment
 * Group Structure Considerations
 * Limitations of Corporate Ratings
 * Conclusion

Descriptions
 * descriptions off, selected

Captions
 * captions settings, opens captions settings dialog
 * captions off, selected

Audio Track
 * en (Main), selected

Picture-in-PictureFullscreen

This is a modal window.



Beginning of dialog window. Escape will cancel and close the window.

TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaque
Font Size50%75%100%125%150%175%200%300%400%Text Edge
StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional
Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall
Caps
Reset restore all settings to the default valuesDone
Close Modal Dialog

End of dialog window.

Close Modal Dialog

This is a modal window. This modal can be closed by pressing the Escape key or
activating the close button.


Criteria


CORPORATE ISSUER RATING CRITERIA SYNOPSIS



Fitch Ratings provides a summary of how the agency assigns issuer ratings to
corporates across sectors and regions.



Learn More
Products


RATINGS PROCESS



This video examines and explains credit ratings and the Fitch approach. It
covers our ratings scale and the process from initiation to outcome and ongoing
maintenance.



Learn More
Video Player is loading.
Play Video
Play
Mute

Current Time 0:00
/
Duration 5:29
Loaded: 2.99%


0:00
Stream Type LIVE
Seek to live, currently behind liveLIVE
Remaining Time -5:29
 
1x
Playback Rate

Chapters
 * Chapters
 * Introduction
 * What is a Credit Rating
 * A Credit Rating from Fitch
 * Fitch Rating Scale
 * FAQs
 * How Does it Work?
 * Data Collection
 * Meeting
 * Final Check
 * Monitoring the Rating
 * Indicative Rating

Descriptions
 * descriptions off, selected

Captions
 * captions settings, opens captions settings dialog
 * captions off, selected

Audio Track
 * en (Main), selected

Picture-in-PictureFullscreen

This is a modal window.



Beginning of dialog window. Escape will cancel and close the window.

TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaque
Font Size50%75%100%125%150%175%200%300%400%Text Edge
StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional
Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall
Caps
Reset restore all settings to the default valuesDone
Close Modal Dialog

End of dialog window.

Close Modal Dialog

This is a modal window. This modal can be closed by pressing the Escape key or
activating the close button.


Video Player is loading.
Play Video
Play
Mute

Current Time 0:00
/
Duration 2:47
Loaded: 5.94%


0:00
Stream Type LIVE
Seek to live, currently behind liveLIVE
Remaining Time -2:47
 
1x
Playback Rate

Chapters
 * Chapters

Descriptions
 * descriptions off, selected

Captions
 * captions settings, opens captions settings dialog
 * captions off, selected

Audio Track
 * en (Main), selected

Picture-in-PictureFullscreen

This is a modal window.



Beginning of dialog window. Escape will cancel and close the window.

TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaque
Font Size50%75%100%125%150%175%200%300%400%Text Edge
StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional
Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall
Caps
Reset restore all settings to the default valuesDone
Close Modal Dialog

End of dialog window.

Close Modal Dialog

This is a modal window. This modal can be closed by pressing the Escape key or
activating the close button.




RATING ASSESSMENT SERVICE (RAS)



This video examines Fitch’s Rating Assessment Service (RAS) and our approach. It
explains basic informational requirements, and RAS process including proposed
scenarios, timeline, feedback and use.



Learn More



09NAVIGATOR COMPANION

Sector Navigators provide guidance for applying the concepts of the Corporate
Rating Criteria to the issuers in the sector the Navigator covers. The Navigator
companion report provides an additional description of the key rating factors
for companies that are assessed.

U.S. HEALTHCARE PROVIDERS

PHARMACEUTICALS

MEDICAL DEVICES, DIAGNOSTICS AND PRODUCTS

Video Player is loading.
Play Video
Play
Mute

Current Time 0:00
/
Duration 3:51
Loaded: 5.04%


0:00
Stream Type LIVE
Seek to live, currently behind liveLIVE
Remaining Time -3:51
 
1x
Playback Rate

Chapters
 * Chapters

Descriptions
 * descriptions off, selected

Captions
 * captions settings, opens captions settings dialog
 * captions off, selected

Audio Track
 * default, selected

Picture-in-PictureFullscreen

This is a modal window.



Beginning of dialog window. Escape will cancel and close the window.

TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaque
Font Size50%75%100%125%150%175%200%300%400%Text Edge
StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional
Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall
Caps
Reset restore all settings to the default valuesDone
Close Modal Dialog

End of dialog window.

Close Modal Dialog

This is a modal window. This modal can be closed by pressing the Escape key or
activating the close button.




NAVIGATOR INTERACTIVE



Ratings Navigator is a visual overview of the key quantitative and qualitative
factors Fitch analyzes to arrive at an entity’s credit rating, and embodies our
commitment to providing clarity to investors and issuers.



Learn More


10BUSINESS CONTACTS

Jill Zelter
Managing Director
Global Head of Corporates and Structured Credit
+1 212 908 0774 |


Ashish Raythatha
Corporates Business & Relationship Management
Senior Director
+1 212 908 0362 |


Peter Van De North
Corporates Business & Relationship Management
Senior Director
+1 212 908 0605 |



11SECTOR ANALYSTS

Megan Neuburger
Corporate Ratings - North America
Managing Director
+1 212 908 0501 |


Britton Costa
Head of U.S. Healthcare, Real Estate & Leisure
Senior Director
(1) 212 908 0524 |


Patrick Finnegan
Specialty Pharmaceuticals, Distributors
Senior Director
+1 646 582 4620 |


Bradley Ellis
Corporates Health Insurance and Managed Care
Senior Director
+1 312 368 2089 |


Robert Kirby
Corporates Pharmaceuticals
Director
+1 312 368 3147 |




ABOUT

 * About UsContactCareersFeedbackMedia Relations

REGULATORY

 * Regulatory AffairsCriteriaCode of Conduct & EthicsPrivacy Policy

PRODUCT

 * Rating ActionsCoverageResearch & AnalyticsRating Products & ToolsNewsletters

REGION

 * EuropeNorth AmericaAfricaAsiaLatin AmericaMiddle East

SECTORS

 * EconomicsBanksInsuranceSovereignsCorporatesStructured FinanceNon-Bank
   Financial InstitutionsPublic Finance - InternationalPublic Finance - United
   StatesInfrastructure & Project Finance

FITCH GROUP

 * Fitch GroupFitch RatingsFitch SolutionsFitch BohuaFitch Learning

Copyright © 2022 Fitch Ratings, Inc., Fitch Solutions, Inc. and their
subsidiaries. Policies | Manage Cookies | Manage Preferences Build v4.6.81
 * 
 * 



We use cookies to deliver our online services, to understand how they are used
and for advertising purposes. Details of the cookies we use and instructions on
how to disable them are set out in our Privacy Policy. To agree to our use of
cookies click Accept.
Accept