Industry Report Card: A Rash Of Activity For U.S. Speculative-Grade Health Care Companies Jul 10

  • ID: 1788878
  • July 2010
  • Region: United States
  • Standard & Poors
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  • Abbott Laboratories
  • Becton Dickinson & Co.
  • Cooper Cos. Inc.
  • Hillenbrand Inc.
  • McKesson Corp.
  • RadNet Management Inc.
  • MORE

With near-term industry visibility improving in the first half of 2010, yield-hungry investors appear to have an increasing interest in the sector's speculative-grade debt issuers. Consequently, as Standard & Poor's Ratings Services looks toward 2011, this could contribute to an increase in the already-dominant presence of lower-grade credits in our ratings universe. In the just-completed second quarter, we rated eight new issuers, all speculative grade. Prior to the passage of health reform legislation, there were a smaller, yet still meaningful number of new health care issuers rated in the first quarter of 2010. They, too, exclusively were in the speculative-grade range. This flurry of low-grade new issuer activity contributed to a rise in the percentage of speculative-grade U.S. health care...

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Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.

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- Abbott Laboratories
- American Medical Systems Inc.
- Bausch & Lomb Inc.
- Becton Dickinson & Co.
- Bristol-Myers Squibb Co.
- PerkinElmer Inc.
- Valeant Pharmaceuticals International Inc.
- Johnson & Johnson
- Eli Lilly & Co.
- HCR HealthCare LLC
- McKesson Corp.
- Merck & Co. Inc.
- Tenet Healthcare Corp.
- Pfizer Inc.
- Thermo Fisher Scientific Inc.
- Service Corp. International
- Universal Health Services Inc.
- Cardinal Health Inc.
- Health Management Associates Inc.
- Bard (C.R.) Inc.
- St. Jude Medical Inc.
- Millipore Corp.
- Cooper Cos. Inc.
- Alliance HealthCare Services
- Baxter International Inc.
- HealthSouth Corp.
- Allergan Inc.
- Beckman Coulter Inc.
- Community Health Systems Inc.
- Amgen Inc.
- Genzyme Corp.
- Hill-Rom Holdings Inc.
- Elan Corp. PLC
- HCA Inc.
- Omnicare Inc.
- Apria Healthcare Group Inc.
- Stewart Enterprises Inc.
- DaVita HealthCare Partners Inc.
- Sun Healthcare Group Inc.
- Quintiles Transnational Corp.
- Owens & Minor Inc.
- Boston Scientific Corp.
- Quest Diagnostics Inc.
- Teva Pharmaceutical Industries Ltd.
- Laboratory Corp. of America Holdings
- PSS World Medical Inc.
- IMS Health Inc.
- Kinetic Concepts Inc.
- Actavis, Inc.
- Universal Hospital Services Inc.
- Rural/Metro Corp.
- ConMed Corp.
- Res-Care Inc.
- Skilled Healthcare Group Inc.
- Phibro Animal Health Corp.
- InSight Health Services Corp.
- Stryker Corp.
- King Pharmaceuticals Inc.
- Team Health Inc.
- LifePoint Health, Inc.
- Express Scripts Inc.
- VCA Inc.
- Hanger Inc.
- Concentra Operating Corp.
- Medtronic Inc.
- Bio-Rad Laboratories Inc.
- Charles River Laboratories International Inc.
- IASIS Healthcare Corp.
- Warner Chilcott PLC
- Agilent Technologies Inc.
- Gentiva Health Services Inc.
- Vanguard Health Systems Inc.
- Select Medical Corp.
- Zimmer Biomet Holdings, Inc.
- AmerisourceBergen Corp.
- Accellent Inc.
- Managed Health Care Associates Inc.
- United Surgical Partners International Inc.
- Rotech Healthcare Inc.
- US Oncology Inc.
- Biogen Inc.
- Medco Health Solutions Inc.
- National Mentor Holdings Inc.
- 21st Century Oncology Inc.
- Psychiatric Solutions Inc.
- AHS Medical Holdings LLC
- Merck KGaA
- AMN Healthcare Inc.
- Alere Inc.
- Orthofix International N.V.
- Sheridan Healthcare Inc.
- RadNet Management Inc.
- VWR Funding Inc.
- Hospira Inc.
- Youth & Family Centered Services Inc.
- Sterigenics International Inc.
- DJO Global Inc.
- Carriage Services Inc.
- InterDent Inc.
- PharmaNet Development Group Inc.
- Envision Healthcare Corp.
- Diagnostic Imaging Group LLC
- CRC Health Corp.
- Butler Animal Health Supply LLC
- Mylan Inc.
- OnCure Medical Corp.
- LifeCare Holdings Inc.
- Genoa Healthcare Group LLC
- inVentiv Health Inc.
- Capella Healthcare Inc.
- CCS Medical Inc.
- Harlan Laboratories Inc.
- Patheon Inc.
- Angiotech Pharmaceuticals Inc.
- AGA Medical Corp.
- GGNSC Holdings LLC
- BioMarin Pharmaceutical Inc.
- Kendle International Inc.
- Talecris Biotherapeutics Inc.
- Graceway Pharmaceuticals LLC
- Fenwal Inc.
- On Assignment Inc.
- Invacare Corp.
- Covidien Ltd.
- Ikaria Inc.
- Catalent Pharma Solutions Inc.
- BioReliance Corp.
- RPI Finance Trust dba Royalty Pharma
- Biomet Inc.
- NightHawk Radiology Holdings, Inc.
- Surgical Care Affiliates Inc.
- Symbion Inc.
- Hologic Inc.
- Advanced Homecare Holdings Inc. d/b/a Encompass Home Health Inc.
- PRA International
- Qualitest Pharmaceuticals Inc.
- Providence Service Corp.
- Aptalis Pharma Inc.
- Hillenbrand Inc.
- Life Technologies Corp.
- Broadlane Inc.
- CareFusion Corp.
- RehabCare Group Inc.
- StoneMor Partners L.P.
- Caris Diagnostics Inc.
- BioScrip Inc.
- The Harvard Drug Group LLC
- American Renal Holdings Inc.
- Aurora Diagnostics LLC
- Lantheus Medical Imaging Inc.
- U.S. Renal Care Inc.
- Renal Advantage Holdings Inc.

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