WakeMed is pleased to announce that Fitch Ratings has reaffirmed the AA- rating on WakeMed’s $425 million of outstanding bonds issued through the North Carolina Medical Care Commission. This positive bond rating speaks to WakeMed’s solid financial position and reaffirms that WakeMed bonds are high-quality investments.
Fitch Ratings noted WakeMed’s dominant inpatient market share in Wake County and trend toward a positive operating margin for the future. This trend toward a positive operating margin is predicted due to current investments, including:
- Building relationships with hundreds of additional community physicians through WakeMed Key Community Care, a Medicare shared savings Accountable Care Organization
- Implementing Epic, a comprehensive electronic patient record system
- Opening WakeMed North Hospital in May 2015, a new women-focused hospital in northern Wake County
Additionally, WakeMed has a good amount of cash on hand for capital and strategic investments and is already one of the lower cost providers in the region. All of these attributes mean that WakeMed is in a strong position to continue to provide quality health care for patients long into the future.
Fitch Ratings regularly reassesses rated organizations’ financial positions and bond stability to reassure and educate bond investors. At this time, WakeMed has no immediate plans to enter the bond market.