Nicklaus Children’s Health System (NCHS) has received an A + bond rating from Fitch Ratings and an A rating from Standard and Poor’s. The healthcare system, which includes a 309-bed, self-contained, nonprofit children’s hospital and an extensive network of pediatric ambulatory care centers spanning across South Florida, has also been recognized by agencies as having a positive (Fitch) and stable (Standard and Poor’s) outlook for the future.
“We are delighted that both rating agencies have issued an improvement in our credit rating and outlook,” said Matthew A. Love, President and CEO. “This achievement is a tribute to the hard work of our entire Nicklaus Children’s Health System family and our shared focus on people, operational fundamentals and strategic growth. Maintaining a strong financial position in the market allows us to advance our mission of expanding access to quality care for children in our community and beyond, ”he said.
The healthcare system has been recognized for its strong commercial position in pediatric healthcare, an expanding outpatient footprint, and increased hospital affiliations in the region. In January 2021, the health system implemented a three-year strategic plan to guide it into the future and has already made significant progress towards achieving the key goals set out in the plan.
Among the achievements highlighted in the analyzes of the rating agencies, the healthcare system regained its historic profitability in 2020, after a drop in 2019. A new management team who joined the organization at the end of 2019 and the beginning of 2020 contributed to drive this transformation.
For more information on Nicklaus Children’s Health System and its flagship product, Nicklaus Children’s Hospital, please visit www.nicklauschildrens.org.
About the Nicklaus Children’s Health System
Nicklaus Children’s Health System (NCHS) is the parent organization of Nicklaus Children’s Hospital, the only licensed specialty hospital in South Florida exclusively for children. The 309-bed non-profit hospital, known as Miami Children’s Hospital from 1983 to 2014, was founded in 1950 by Variety Clubs International and is renowned for excellence in all aspects of pediatric medicine, with many many programs consistently ranked among the best in the country by US News & World Report. The healthcare system also includes the Nicklaus Children’s Hospital Foundation, the 501c3 fundraising arm of the organization; a network of non-profit ambulatory and emergency care centers located in Miami-Dade, Broward, Palm Beach and Martin counties; a non-profit medical practice affiliate; and an outpatient surgery center. NCHS is the only health system in the region exclusively for children.
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