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Industry Report Card: North American Health Care Companies Are Resistant, But Not Immune, To Economic Ills Jan 09 Product Image

Industry Report Card: North American Health Care Companies Are Resistant, But Not Immune, To Economic Ills Jan 09

  • Published: January 2009
  • Region: North America, United States
  • Standard & Poors

FEATURED COMPANIES

  • Abbott Laboratories
  • Biogen Idec Inc.
  • DJO Global Inc.
  • Hospira Inc.
  • Mylan Inc.
  • Sheridan Healthcare Inc.
  • MORE

Abstract
With sustained financial-market turmoil in 2009, a rash of rating cuts for low-speculative-grade health care credits could highlight sector credit pressure more prominently. Along with the earlier common experience of more economically sensitive industries, lower-rated companies in the health care field must now increasingly contend with possible breaches of loan covenants. Their credit challenges generally are growing more formidable after a few years since leveraged buyouts (LBOs) and other leveraging events. Loan terms are tightening, sometimes requiring waivers, and there is increasing urgency to refinance more imminent debt maturities, given operating disappointments and an unforgiving capital environment. The potential for specific companies to suffer serial rating cuts as their credit prospects deteriorate could amplify the downward trend in rating actions....

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 READ MORE >

- - Abbott Laboratories
- - Wyeth
- - 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.
- - Schering-Plough Corp.
- - 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.
- - Kinetic Concepts Inc.
- - Actavis
- Inc.
- - Universal Hospital Services Inc.
- - Rural/Metro Corp.
- - ConMed Corp.
- - Res-Care Inc.
- - HealthTronics Inc.
- - Skilled Healthcare Group Inc.
- - Alpharma Inc.
- - Phibro Animal Health Corp.
- - InSight Health Services Corp.
- - Stryker Corp.
- - Biovail Corp.
- - King Pharmaceuticals Inc.
- - Team Health Inc.
- - LifePoint Hospitals Inc.
- - Express Scripts Inc.
- - VCA Antech Inc.
- - Hanger Inc.
- - Concentra Operating Corp.
- - Medtronic Inc.
- - DENTSPLY International Inc.
- - Bio-Rad Laboratories Inc.
- - Charles River Laboratories International Inc.
- - IASIS Healthcare Corp.
- - Warner Chilcott Corp.
- - Gentiva Health Services Inc.
- - Vanguard Health Systems Inc.
- - Genentech 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.
- - Advanced Medical Optics Inc.
- - Medco Health Solutions Inc.
- - National Mentor Holdings Inc.
- - 21st Century Oncology Inc.
- - Psychiatric Solutions Inc.
- - 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.
- - Arizant Inc.
- - DJO Global Inc.
- - Triumph HealthCare Holdings Inc.
- - Carriage Services Inc.
- - Center for Diagnostic Imaging Inc.
- - InterDent Inc.
- - Spheris Inc.
- - Envision Healthcare Corp.
- - Diagnostic Imaging Group LLC
- - CRC Health Corp.
- - Butler Animal Health Supply LLC
- - Mylan Inc.
- - LifeCare Holdings Inc.
- - Genoa Healthcare Group LLC
- - inVentiv Health Inc.
- - Capella Healthcare Inc.
- - CCS Medical Inc.
- - QTC Management Inc.
- - Harlan Laboratories Inc.
- - Patheon Inc.
- - Angiotech Pharmaceuticals Inc.
- - AGA Medical Corp.
- - GGNSC Holdings LLC
- - BioMarin Pharmaceutical Inc. (Unsolicited Ratings)
- - Kendle International Inc.
- - Talecris Biotherapeutics Inc.
- - Stiefel Laboratories Inc.
- - Graceway Pharmaceuticals LLC
- - AssuraMed Holding Inc.
- - Fenwal Inc.
- - On Assignment Inc.
- - Invacare Corp.
- - Covidien Ltd.
- - Cohr Holdings Inc. (Masterplan Inc.)
- - Catalent Pharma Solutions Inc.
- - BioReliance Corp.
- - RPI Finance Trust dba Royalty Pharma
- - Biomet Inc.
- - NightHawk Radiology Holdings
- Inc.
- - TLC Vision Corp.
- - Surgical Care Affiliates
- - Symbion Inc.
- - Hologic Inc.
- - Advanced Homecare Holdings Inc. d/b/a Encompass Home Health Inc.
- - Chem Rx Corp.
- - PRA International
- - Qualitest Pharmaceuticals Inc.
- - Providence Service Corp.
- - Aptalis Pharma Inc.
- - Hillenbrand Inc.
- - Life Technologies Corp.
- - Broadlane Inc.

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