Neenah, Wis.-based ThedaCare has had its "AA-" rating affirmed on $252 million of bonds it holds as well as on its overall debt because of a focused strategy, strong financial profile and robust market share, Fitch Ratings said Dec. 14.
Such a "focused strategy" involves improving access, growing primary care, expanding core service lines at its two flagship hospitals and enhancing care at the system's five critical access hospitals, Fitch said of the group. ThedaCare enjoys a 56 percent market share compared with two other multistate systems, namely St. Louis-based Ascension and Downers Grove, Ill.- and Milwaukee-based Advocate Aurora Health with about 30 percent and 11 percent share, respectively, Fitch noted.
That market share is bolstered by ThedaCare's "expansive outpatient clinic network" which contributes about 75 percent of the group's revenues, Fitch added.
In September, ThedaCare agreed to expand partnerships with the Medical College of Wisconsin and healthcare group Froedtert, both in Milwaukee.