Redeemer Health, which owns and operates Holy Redeemer Hospital in the Meadowbrook section of Abington and has a branch in Huntingdon Valley, was downgraded to a “BB” rating in an August 11 report by Standard & Poor’s Global Ratings.

The ratings agency cited “declining operating margins” and operating losses as reasons for the downgrade. Redeemer management expects to report a $45 million operating loss for fiscal year 2023.

According to The Philadelphia Inquirer, the lower credit rating means that the ratings agency considers Redeemer a risky investment for municipal bond investors.

From their article:

Redeemer owns a hospital in Meadowbrook with 165 staffed beds, plus nursing homes, and other health-care operations. It faces stiff competition from the nearby and much larger Jefferson Abington Hospital.

According to Redeemer’s website, the facility in Huntingdon Valley provides ambulatory surgery, women’s health care, behavioral health care, diagnostic testing, and walk-in lab services.

For more Redeemer Health, located at 1648 Huntingdon Pike, you can visit their website. For more on Redeemer Health’s Huntingdon Valley branch, located at 821 Huntingdon Pike, you can visit their website.

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Photos courtesy of Redeemer Health