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

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

FEATURED COMPANIES

  • Abbott Laboratories
  • Beckman Coulter Inc.
  • ConMed Corp.
  • Hillenbrand Inc.
  • McKesson Corp.
  • RadNet Management Inc.
  • MORE

Abstract
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...

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

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.

Note: Product cover images may vary from those shown

- 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.
- Owens & Minor Inc.
- Boston Scientific Corp.
- Quest Diagnostics Inc.
- Teva Pharmaceutical Industries Ltd.
- Laboratory Corp. of America Holdings
- IMS Health Inc.
- Kinetic Concepts Inc.
- Actavis, Inc.
- Universal Hospital Services Inc.
- Rural/Metro 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 Hospitals Inc.
- Express Scripts Inc.
- Hanger Inc.
- Concentra Operating Corp.
- Medtronic Inc.
- DENTSPLY International 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 Holdings Inc.
- AmerisourceBergen Corp.
- Accellent Inc.
- Managed Health Care Associates Inc.
- United Surgical Partners International Inc.
- Rotech Healthcare Inc.
- US Oncology Inc.
- Biogen Idec 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.
- VWR Funding Inc.
- Hospira Inc.
- Youth & Family Centered Services Inc.
- Sterigenics International Inc.
- Carriage Services Inc.
- InterDent Inc.
- PharmaNet Development Group Inc.
- Diagnostic Imaging Group LLC
- CRC Health Corp.
- Mylan Inc.
- OnCure Medical Corp.
- LifeCare Holdings Inc.
- Genoa Healthcare Group LLC
- inVentiv Health Inc.
- Capella Healthcare Inc.
- CCS Medical Inc.
- Harlan Laboratories Inc.
- Angiotech Pharmaceuticals Inc.
- AGA Medical Corp.
- BioMarin Pharmaceutical Inc. (Unsolicited Ratings)
- Kendle International Inc.
- Talecris Biotherapeutics Inc.
- Graceway Pharmaceuticals LLC
- AssuraMed Holding Inc.
- On Assignment Inc.
- Invacare Corp.
- Covidien Ltd.
- Ikaria Inc.
- Catalent Pharma Solutions Inc.
- BioReliance Corp.
- RPI Finance Trust dba Royalty Pharma
- Biomet Inc.
- Hologic Inc.
- Advanced Homecare Holdings Inc. d/b/a Encompass Home Health Inc.
- Aptalis Pharma Inc.
- Hillenbrand Inc.
- Life Technologies Corp.
- Broadlane Inc.
- CareFusion Corp.
- RehabCare Group Inc.
- StoneMor Partners L.P.
- BioScrip Inc.
- Lantheus Medical Imaging Inc.
- Renal Advantage Holdings Inc.
- Quintiles Transnational Corp.
- PSS World Medical Inc.
- ConMed Corp.
- VCA Inc.
- Bio-Rad Laboratories Inc.
- Orthofix International N.V.
- Sheridan Healthcare Inc.
- RadNet Management Inc.
- DJO Global Inc.
- Envision Healthcare Corp.
- Butler Animal Health Supply LLC
- Patheon Inc.
- GGNSC Holdings LLC
- Fenwal Inc.
- NightHawk Radiology Holdings, Inc.
- Surgical Care Affiliates
- Symbion Inc.
- PRA International
- Qualitest Pharmaceuticals Inc.
- Providence Service Corp.
- Caris Diagnostics Inc.
- The Harvard Drug Group LLC
- American Renal Holdings Inc.
- Aurora Diagnostics LLC
- U.S. Renal Care Inc.

Note: Product cover images may vary from those shown
Note: Product cover images may vary from those shown

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