Metric Details Entity / Legal Name CityMD / Summit Health (operated by VillageMD) Current Parent VillageMD (standalone under Sycamore Partners since Aug 2025) Former Parent Walgreens Boots Alliance (divested via Sycamore buyout) S&P / Moody‑s Rating Not Rated (private company) Investment Grade Status Private / Not Rated Sector Healthcare / Urgent Care & Multispecialty Headquarters…

Metric Details Entity / Legal Name ATI Physical Therapy, Inc. Former Ticker ATIP (NYSE delisted Dec 2024; went private Aug 2025) S&P / Moody‑s Rating Not publicly rated (formerly distressed credit profile) Rating Outlook Going concern doubt expressed by management (10-K 2024) Investment Grade Status Non‑Investment Grade — Substantial Risk Sector Healthcare / Outpatient Physical…

Metric Details Entity / Legal Name AFC Urgent Care (American Family Care, Inc.) S&P / Moody‑s Rating Not Rated (private company) Rating Outlook N/A Investment Grade Status Private / Not Rated Sector Healthcare / Urgent Care (Franchise Model) Headquarters Birmingham, Alabama US Location Count 350+ (primarily franchised) Cap Rate Range 7.00% – 8.50% Typical Lease…

Metric Details Entity / Legal Name UPMC (University of Pittsburgh Medical Center) S&P / Moody‑s / Fitch Rating S&P A / Moody‑s A2 / Fitch A Rating Outlook Stable (all agencies, as of March 2026) Investment Grade Status Investment Grade Sector Healthcare / Integrated Health System & Insurance Headquarters Pittsburgh, Pennsylvania Hospital Count 40+ hospitals…

Metric Details Entity / Legal Name Regents of the University of Michigan (Michigan Medicine / U of M Health) S&P / Moody‑s Rating AAA / Aaa Rating Outlook Stable (both agencies) Investment Grade Status Investment Grade — Highest Possible Rating Sector Healthcare / Academic Medical Center Headquarters Ann Arbor, Michigan Hospitals Multiple (including Sparrow Health…

Metric Details Entity / Legal Name Trinity Health Corporation S&P / Moody‑s / Fitch Rating S&P A‑ / Moody‑s Aa3 / Fitch AA‑ Rating Outlook Stable (all agencies) Investment Grade Status Investment Grade Sector Healthcare / Nonprofit Catholic Health System Headquarters Livonia, Michigan Hospital Count 92 hospitals across 25 states Annual Revenue $25.4 billion (FY2025)…

Metric Details Entity / Legal Name Sparrow Health System (now part of University of Michigan Health) Parent Organization University of Michigan Health (Michigan Medicine) S&P / Moody‑s Rating AAA / Aaa (University of Michigan general revenue) Rating Outlook Stable Investment Grade Status Investment Grade Sector Healthcare / Academic Medical Center Headquarters Lansing, Michigan Hospital Count…

Metric Details Entity / Legal Name Piedmont Healthcare, Inc. S&P / Moody‑s Rating Moody‑s Aa3 Rating Outlook Stable Investment Grade Status Investment Grade Sector Healthcare / Nonprofit Health System Headquarters Atlanta, Georgia Hospital Count 22 hospitals Annual Revenue ~$7.5 billion Cap Rate Range 5.00% – 6.00% Typical Lease Term 10 – 20 years (NNN or…

Metric Details Entity / Legal Name Oak Street Health, LLC (subsidiary of CVS Health Corporation) Parent Company CVS Health (NYSE: CVS) S&P / Moody‑s Rating BBB / Baa1 (CVS Health parent credit) Rating Outlook Stable (S&P) / Stable (Moody‑s) Investment Grade Status Investment Grade (via CVS Health parent) Sector Healthcare / Value-Based Primary Care US…

Metric Details Entity / Legal Name McLaren Health Care Corporation S&P / Moody‑s Rating Fitch AA‑ / Moody‑s A1 Rating Outlook Stable (Fitch) / Stable (Moody‑s) Investment Grade Status Investment Grade Sector Healthcare / Nonprofit Health System Headquarters Grand Blanc, Michigan Hospital Count 15 acute care hospitals Annual Revenue ~$6.5 billion (FY2024) Cap Rate Range…