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I would like a corporate structure (not people) of Highmark, Allegheny Health Network and Saint Vincent Hospital, the legal status of each entity, and can Saint Vincent Hospital issue tax exempt debt to improve their facility?
Hello! Thanks for your question about the corporate structure of Highmark, Allegheny Health Network and Saint Vincent Hospital, and the legal structure of each entity. The short answer is that both Highmark Inc. and Allegheny Health Network fall under the overarching parent company of Highmark Health. Highmark Health includes a variety of for-profit, non-profit, and charitable organizations. Saint Vincent Hospital is associated with the St. Vincent Hospital Foundation, which could issue tax-exempt debt for capital improvements if it had a municipal or state partner.
Below you will find a deep dive of my findings.
METHODOLOGY
To answer this question I investigated corporate material from the various organizations and supplemented this with additional government and media information.
CORPORATE STRUCTURE
I found this corporate structure from 2015 that provides significant detail into Highmark Inc. and this was the basis that I used primarily for filling out my own larger corporate structure, available here.
In my own corporate structure, I have focused only on those major companies listed on the respective parent companies' "About" and "Our Businesses" websites, and that is why there is some discrepancy between my structure and the structure I listed above.
TAX-EXEMPT DEBT
In terms of whether Saint Vincent Hospital can issue tax-exempt debt, I am not a legal professional, so please don't take my advice as such; however, it does appear that this should be possible but the debt must be issued in partnership with a municipal or state body.
CONCLUSION
To wrap it up, Highmark Health is a complex corporate entity with a variety of for-profit, non-profit, and charitable organizations under its umbrella. In terms of issuing tax-exempt debt to support capital works for Saint Vincent Hospital, it seems like this should be possible in partnership with a municipal or state entity.
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