It is anticipated that the BRCH
Corporation and Affiliates consolidated financial statements with the report of independent certified public accountants and Management's Discussion and Analysis for fiscal year 2010 will be completed by the end of October, 2010.
This rating action comes after Fitch downgraded BRCH
also reported that it failed to meet its required debt service coverage ratio of 1.
In addition, BRCH
enjoys strong community support, which was demonstrated by several large donor contributions to help fund the hospital's new open-heart program and cancer center expansion.
The landmark public-private partnership among BRCH
, FAU and UMMSOM, paired with such a landmark donation, will bring research investments, job opportunities and national excellence for decades to come.
E[acute accent](The $19,175,000 BRCH
Corporation taxable variable-rate demand bonds, series 1999, are not rated.
In addition, BRCH
enjoys strong community support that is demonstrated by two recent individual gifts of $20 million to support the hospital's new open heart program and cancer center expansion.
operates in a fairly competitive market with five direct competitors located within a ten-mile radius.
Located in Boca Raton, FL; approximately 20 miles north of Fort Lauderdale, BRCH
operates a 394-bed acute care hospital.
In 2000, due largely to bad debt write-offs arising from problems associated with implementation of a new billing system, BRCH
recorded an operating margin of (16.
Moore noted that BRCH
already had McKessonHBOC's STAR 2000 financial systems that were meeting the organization's needs on the business side of the house but faced increasingly complex IT needs.
31, 2010, BRCH
held unrestricted cash and investments totalling $74.