Moody’s Issues Zero Texas Upgrades in 2017 as Ratio of Upgrades to Downgrades Dips

The ratio of upgrades to downgrades issued to not-for-profit hospital systems by Moody’s looked worse in 2017 than it did the year prior, and the Lone Star State failed to register a single upgrade, according to a new report by Moody’s Investors Service. North Texas played home to a pair of downgrades in 2017, the only two in Texas last year. They were Tyler-based East Texas Medical Center Regional Healthcare System and Sulphur Springs-based Hopkins County Hospital District. Overall, Moody’s downgraded 41 hospital systems in 2017 versus just 12 upgrades. The ratio of 3.4-to-1 compares to 1.5-to-1 in 2016, when… Full Story

New System UT Health East Texas Names a CEO

UT Health East Texas will bring in a healthcare executive from St. Vincent’s Medical Center in Bridgeport, Connecticut, to lead its flagship facility. It tapped Vicki Briggs to be chief executive officer of 502-bed UT Health Tyler. The system was rebranded last month after it was acquired in September through a deal between Nashville-based Ardent Health Services and UT System. Then called East Texas Medical Center, it includes 10 hospitals in total. Ardent said it would invest $150 million in the deal, while UT System regents recently signed off to throw $35 million toward the cause. East Texas won’t be… Full Story

East Texas Medical Center To Rebrand Under UT System After Being Acquired by Nashville Operator

The East Texas Medical Center Regional Healthcare System will become UT Health East Texas. The University of Texas System Board of Regents approved the rebrand and a $35 million investment last week, the Tyler Morning Telegraph reported. Nashville-based operator Ardent Health Services took majority ownership of ETMC in September, pledging a $150 million investment in a deal that also brought on UT System to create what they’re calling a new health care system. Ardent will run all the hospitals and clinics, which includes 502-bed East Texas Medical Center Tyler and nine other hospitals. UT will be able to expand its… Full Story