...Welcome to the Checkup: This is the third annual edition of Fitch's High-Yield Healthcare Checkup. The report includes analysis of the business profile and capital structure of 25 of the largest issuers of high-yield debt in the U.S. healthcare industry. The companies included in this report have a cumulative $136 billion of debt outstanding, including public bonds and bank loans. Healthcare Providers Dominate List: The group of companies profiled is diverse, representing the healthcare provider, healthcare services, specialty pharmaceutical, medical device and diagnostics subsectors. As in past years, healthcare providers are the most heavily represented in this group, comprising 12 of the 25 companies profiled. FCF Leaders and Laggards: The ratings of the companies profiled in the report are clustered in the `B' and `BB' categories. For companies rated at the higher end of high-yield territory, Fitch generally expects sustainable generation of positive FCF. The group has an LTM median...
