Fitch Rating Service recently affirmed Heritage Valley Health System’s rating of “AA– with a Stable Outlook,” based on the organization‘s strong  financial profile, solid management team and Fitch‘s expectation that volumes will return to pre pandemic levels. Fitch also took into account the health system’s expanding market share, sizable employed physician group and growing outpatient service network. Heritage Valley was able to maintain its current rating despite competition in the greater Pittsburgh area healthcare market and increased operating expenses associated with the state-mandated response to the coronavirus pandemic. The system’s strong balance sheet provided a cushion against operating  volatilities experienced in fiscal years 2020 and 2021. 

“There‘s no doubt that this has been a difficult year,” states Norm Mitry, President and CEO of Heritage Valley Health System. “We are very proud of our medical staff, leadership team, nurses, ancillary staff and support personnel for their commitment to both our community and our health system. This level of dedication allowed our organization to maintain its strong Fitch  rating, even during a pandemic.” Mr. Mitry added that “We are also extremely grateful for the support shown by our community, from both an operational and philanthropic perspective.” 

Heritage Valley Health System operates 580 beds at three acute care hospitals located in Beaver, Sewickley and Kennedy Township, along with a significant number of outpatient facilities in the northwest tier of Allegheny County, Beaver County and eastern Ohio. The health system is in the process of expanding services at its recently acquired Kennedy location (formerly known as Ohio Valley Hospital), including outpatient surgeries, rehabilitation services and inpatient adult psych.