Hopkins County Hospital District, acquired by CHRISTUS Health System in 2016, was downgraded by Moody’s in August 2017. According to an article in CEO HealthCare, written by Shawn Shinneman, the downgrade applies to the Hospital District and not CHRISTUS because the structure of the agreement between the District and CHRISTUS did not guarantee any of the Hopkins County Hospital District’s outstanding debt.
The local hospital district and Tyler-based East Texas Medical Center Regional Healthcare System are the only two North Texas not-for-profit hospital systems downgraded by Moody’s in 2017, according to the report by Moody’s Investors Service.
CHRISTUS owns 51-percent of the local hospital and manages the operations of CHRISTUS Mother Frances Sulphur Springs. The Hospital District owns 49-percent and continues operation of the Emergency Medical Services (EMS) as well as well as several East Texas nursing homes.
In September, Nashville-based Ardent Health Services purchased ETMC and partnered with the University of Texas System in the deal, according to CEO HealthCare.
Moody’s downgraded 41 hospital systems in 2017 and upgraded only 12.