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S&P, Moody's Give Atlantic Health System Highest Health System Rating in NJ

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MORRISTOWN, NJ - Atlantic Health System, a leading health care delivery system in New Jersey, is once again the highest-rated New Jersey based system rated by credit agencies Moody’s and S&P.

Moody’s raised its rating for the health care organization from A1 to Aa3, the highest rating among all health care systems in New Jersey, with an outlook of “stable.” The rating upgrade reflects Atlantic Health System’s continued stability of operating performance and financial growth of the balance sheet, as well as its favorable market position and the “wide array” of services it provides.

S&P affirmed its “AA-“ rating for Atlantic Health System due to its strong presence in the region and increased system diversity among its six hospitals and a network of community-based physicians throughout northern and central New Jersey. Along with only one other organization, this is the highest rating given to health systems in NJ by S&P. Atlantic Health System’s outlook with S&P remained stable.

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The ratings actions by both agencies put the system in a favorable position to leverage its credit strength and allows the system to issue or refinance its debt at more favorable interest rates. Atlantic Health System may pay less on interest on its bonds and allow the organization to invest more of its money in patient care initiatives, including technology, skilled staff and infrastructure.

“These ratings further demonstrate the value of developing our connections to the communities we serve through wise growth, investment in innovation and continuously improving care, said Kevin Lenahan, senior vice president and Chief Financial and Administrative Officer for Atlantic Health System. “The rating upgrade puts us on even better footing to fulfill the health care needs of our communities.”

Moody’s also highlighted Atlantic Health System’s ability to reach agreements in many of its host communities on fair-share community contributions in response to municipalities’ review of the tax-exempt status of hospitals and other facilities.

“A key credit strength of the system speaks to management's ability to navigate recent state and local budget challenges quickly and proactively,” Moody’s said in its rating.

S&P highlighted “AHS’ focus is on continued development of population health infrastructure and strategies to drive growth to the organization.” This includes increased integration between owned and independent hospitals, Atlantic Medical Group, community based physicians, and payers.

The credit agencies noted the following among the reasons for Atlantic Health System’s enviable ratings and outlook:

  • Atlantic Health System is a large multi-site organization with more than $2.5 billion in revenue and 100,000 total admissions (including observation stays and admissions)
  • The strong presence of the system in the region, including the growth of the system. The agencies noted the acquisition of Hackettstown Medical Center in April 2016, as well as Atlantic Health System’s participation in the Mid Jersey Health Alliance with Hunterdon Healthcare System, which coordinates care and offers expanded clinical services in Hunterdon, Somerset, Mercer, and Warren counties
  • The rapid growth and increased integration of Atlantic Medical Group, which now includes more than 900 community-based physicians and other providers
  • Continued growth in operating margins, cash measures and debt leverage measures

S&P noted Atlantic Health System’s significant additions of several key leadership roles covering patient experience, integrated care delivery, and innovations and technology following the addition of President and CEO Brian Gragnolati in 2015. The agency also highlighted Gragnolati recently being named chair-elect designate of the American Hospital Association. He will assume the board chairmanship in 2019.

Among other successes reported to the credit agencies has been the performance of the two accountable care organizations (ACOs) affiliated with Atlantic Health System – Atlantic ACO and Optimus Healthcare Partners. Both ACOs produced shared savings for Medicare.

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Montville

Upcoming Events

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Thu, June 21, 1:00 PM

Montville Township Public Library, Montville

"The American Musical" (Lecture)

Education

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Thu, June 21, 7:00 PM

Pyramid Mountain, Montville Township

Summer Solstice Hike: moderate

Health & Wellness

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Sat, June 23, 10:00 AM

Montville Township Public Library, Montville

Library - Summer Reading Kickoff (Kids)

Education

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Sat, June 23, 10:00 AM

CASA of Morris and Sussex Counties, Morristown

CASA Information Session

Education Health & Wellness Law & Justice

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Sat, June 23, 10:00 AM

Pyramid Mountain, Montville Township

Gardening with Wildflowers

Home & Garden

Summer Concert Series Announced by Montville Twp Recreation

June 16, 2018

MONTVILLE, NJ – The Montville Township Recreation Department announced its summer concerts in the park lineup. The free concerts will be held on Tuesdays beginning on July 10, at the amphitheater beyond the Montville Township Public Library. Parking is available at the library (90 Horseneck Road) or in the high school parking lot (100 Horseneck Road). Assistance is available, for those who ...

Three Montville Teens Attain Eagle Scout Ranking

June 9, 2018

MONTVILLE, NJ – Three Boy Scouts from Montville Township’s Troop 74 attained their Eagle Scout ranking at their Court of Honor, held on May 5 at the Senior House.

Keith Lo, Harish Rajagopal and Charles J. Roy all completed tasks around the township, which combined with the projects of other Eagle Scouts, have saved tens of thousands of taxpayer dollars, Township Administrator ...

May the Fourth Results in Donations to Lung Cancer Foundation from Cedar Hill Character Education Group

June 16, 2018

MONTVILLE, NJ – The Cedar Hill Fifth Grade Character Education Council sponsored May The 4th Be With You on Friday May 4 from in the Cedar Hill multi-purpose room. The event was to benefit the Lung Cancer Foundation of America. To raise money, each participant paid $5 for a Star Wars-themed scorecard. Upon completion of all events, scorecards were put in a raffle for a Star Wars video ...

Roxbury's Kellie Ann Keyes Named the County's Recycling "Rox-Star"

June 18, 2018

ROXBURY, NJ – Kellie Ann Keyes, who runs Roxbury's recycling program was honored recently by Morris County for her efforts, with the county dubbing her its “Rox-Star Recycler.”

Keyes was one of 10 people and businesses to receive a 2018 Environmental Excellence Award from the Morris County Municipal Utilities Authority (MUA). The MUA gave her the award in ...

Bridgewater Mall Shut Down After Fight; Report of Shots Fired

June 14, 2018

UPDATE: According to a Nixle alert from the Bridgewater Township Police Department at 9 p.m., the investigation at the mall has been completed, and the mall will be resuming normal business operations.

Police emphasized that there is no immediate threat to the public and no injuries were reported.

TAPinto will update this as more information becomes available.

BRIDGEWATER, NJ - No ...

Morris County Chamber Issues Statement About State Budget Negotiations and Proposed Tax Increases

June 21, 2018

MORRIS COUNTY, NJ - Paul Boudreau, president of the Morris County Chamber of Commerce, yesterday issued the following statement on the budget negotiations in Trenton:

“Individuals and businesses are shouldering a significant tax burden already in our state. Raising taxes sends a signal to our employers and future investors that New Jersey will remain uncompetitive for decades ...

Columns

OPEN HOUSES This Weekend 6/16 - 6/17, 2018

The following homes have OPEN HOUSES presented by RE/MAX NEIGHBORHOOD PROPERTIES this weekend.

SATURDAY, JUNE 16, 2018:

  From 12 - 2 p.m.

  201 English Place, Bernards Township

  Click HERE to see full listing.

 

 

SUNDAY, JUNE 17, 2018:

  From 1 - 3 p.m.

  170 Morris Avenue, Mountain Lakes

  Click HERE to see full ...

OPEN HOUSES This Weekend 6/9 - 6/10 2018

The following homes have OPEN HOUSES presented by RE/MAX Neighborhood Properties this weekend.

SATURDAY, JUNE 9, 2018:

  From 1 - 3 p.m.

  25 Hillcrest Road, Mountain Lakes

  Click HERE to see full listing.

 

 

SUNDAY, JUNE 10, 2018:

  From 1 - 4 p.m.

  1 Philhower Court, Denville

   Click HERE to see full ...

Open Houses this Weekend by Century 21

MONTVILLE, NJ - Following are the Century 21 Open Houses for this weekend:

Saturday, June 23 from 1 - 4 p.m.

Brownstones at Fairfield, Stonybrook Circle (Using GPS - Enter 66 Two Bridges Road)
3 Louis Drive, Montville

Sunday, June 24 from 12 - 3 p.m.

6 Woodside Drive, Montville Township

Sunday, June 24 from 1 - 4 p.m.

Brownstones at ...

Century 21 Open Houses this Weekend

MONTVILLE, NJ - Following are the Century 21 Open Houses for this weekend:

Saturday, June 9 from 1 - 4 p.m.

Brownstones at Fairfield, Stonybrook Circle (Using GPS - Enter 66 Two Bridges Road)
7 Diann Drive, Montville

Sunday, June 10 from 1 - 4 p.m.

Brownstones at Fairfield, Stonybrook Circle (Using GPS - Enter 66 Two Bridges Road)
3 Louis ...

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