CHMCAChildren's Hospital Medical Center of Akron (Ohio)
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Parents' evaluations of the pager program at CHMCA have always been universally positive with recommendations that the program continue.
The use of a pager program for children and families has been a great success in two institutions: CHMCA and Rainbow Babies and Children's Hospital.
Future Capital Needs CHMCA is embarking on Phase I of its master facility plan, which includes a parking deck and a critical care and ambulatory care tower.
Fitch believes CHMCA should be successful in raising the funds as ongoing fundraising totaled $17 million in 2011.
CHMCA may issue an additional $50 million-$80 million of additional debt in 2013 to fund its capital plan, which Fitch believes can be absorbed at the current rating level if strong operating performance is maintained.
Stable Rating Outlook The Stable Rating Outlook reflects the expectation that CHMCA will continue to produce strong operating cash flow to support its capital plan.
CHMCA serves a 17-county service area (primary and secondary) and has grown its market share due to its increased regional presence through collaborations with adult providers, its growing primary care network, and most recently the opening of its 50-bed Beeghly campus (Boardman, OH) in December 2008.
For the interim period, CHMCA had an operating income of $12.
CHMCA covenants to provide Fitch and bondholders with quarterly and annual disclosure, which Fitch views positively.
Although this is a risk since CHMCA is exposed to potential cuts of state funding, CHMCA and other children's hospitals in the state have been very active at the state legislature and have historically secured appropriate Medicaid reimbursement for children's hospitals.