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Milton (MA) Hospital finances in a bind

Boston Globe, March 17, 2009

Hit by declining patient volumes, lower investment income, and competition from nearby institutions, Milton (MA) Hospital faces a financial squeeze that clouds its future. Standard & Poor's recently dropped its ranking of $44 million in Milton Hospital bonds to below investment grade, or junk-bond status. Milton Hospital's predicament is typical of what is happening at many Massachusetts community hospitals: They are losing patients to large academic medical centers with powerful brand names.