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The transaction is expected to close no later than May 2, 2022.There are a number of other factors that support the Baa1 rating, including NMH's role as an essential provider in Minneapolis. Overall, the transaction will not weaken NMH's (and by extension, MGH's) current rating.

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Offsetting the dilution in balance sheet measures are a number of benefits that will result from the transaction, including: the elimination of the annual distribution to FHS, which over the last 5 years has average $7 million per year the ability to exert full control over the facility, including decisions relating to capital investment and the ability to fully control certain competitive decisions. The net decrease of liquidity is expected to be approximately $45 million, equal to approximately 10% of total unrestricted cash and investments as of Q3 2021 (excluding Medicare advance payments and deferred payroll tax). In November 2021, NMH closed on the sale of its reference lab business to Lab Corp which will serve to offset a portion of the purchase price of the minority interest in MGH. This list is an integral part of this Press Release and identifies each affected issuer.RATINGS RATIONALEThe affirmation of the Baa1 reflects the expected maintenance of liquidity and balance sheet measures that are consistent with the rating category, despite the net decrease in liquidity resulting from North Memorial Health Care's (NMH) expected purchase of Fairview Health Services' (FHS) 25% (A3 Negative) ownership interest in Maple Grove Hospital (MGH). The outlook remains negative.Please click on this link for the List of Affected Credit Ratings. The rated entities have a combined $191 million of debt outstanding. The guarantee is expected to increase to 100% no later than May 2, 2022, which is reflected in this rating action.

NMH currently guarantees 75% of the annual debt service of MGH.

Maple grove hospital phone number series#

Green Building Council, created a hospital in which patients, staff and family can embrace wellness through transformation, growth, strength and support.Rating Action: Moody's affirms North Memorial Health Care's (MN) (dba North Memorial Health) and Maple Grove Hospital's (MN) Baa1 outlook negativeGlobal Credit Research - New York, Ma- Moody's Investors Service has affirmed the Baa1 on North Memorial Health Care's, MN (NMH) and Maple Grove Hospital's, MN (MGH) outstanding bonds (including MGH's series 2017). The overall design, using the Green Guide for Health Care and registered with the U.S. Throughout the facility, imagery, nature-inspired forms and natural materials such as wood and stone blend the building with the landscape and draw the landscape inside. Careful attention to materials management and materials traffic flow led to smooth delivery pathways that avoid disruption to public and patient areas. Utilizing lean and evidence-based design, the BWBR team created full-size testing rooms for users to simulate work activities and ensure that the final design enhanced operations and efficiency while proactively minimizing change orders. Envisioning a hospital that supports its community the way a grove of trees supports its habitat, the hospital’s leadership seized the opportunity to create a different, patient-centered health care experience during the second phase of a three-phase medical campus anchoring a mixed-use development.