From Concept to Clinic: Recent Investments in Healthcare Programs

John Sweeney - Providence College

Matthew Frist - Duquesne University

Megan Kearns - S&P Global Ratings

Healthcare education is one of the fastest-growing segments in higher education, driven by persistent workforce shortages and strong student interest. Launching or expanding these types of programs requires significant capital commitment, and the financial and reputational stakes are high. This panel brings together higher education finance leaders who have recently navigated major investments in healthcare programs alongside a higher education credit analyst from S&P to offer a credit impact and ratings view of these types of decisions.

Providence College, which added a School of Nursing in 2022, and Duquesne University, which opened a College of Osteopathic Medicine in 2024, will share:

  • How they identified program opportunities and conducted feasibility research.
  • How they navigated licensure and found partners for clinical placements.
  • What financing they pursued for program investment.
  • Results of program expansion thus far.

S&P will highlight the similarities and differences between each team's approach, and the session will close with a credit perspective on how rating agencies evaluate these investments and the impact on institutional demand. Discussion questions and Q&A will be woven throughout, making this an interactive session with an opportunity for the audience to share questions and experiences with program expansion.

Learning Objectives

  • Describe the market research, feasibility analysis, accreditation, and clinical placement strategies that informed successful healthcare program launches at two peer institutions.
  • Compare strategies for financing healthcare program expansion—including asset monetization, fundraising, and debt issuance.
  • Explain how credit analysts assess large program-related investments, including start-up operating costs, relative to institutional debt capacity and balance sheet strength.

CPE Available

  • 1 Credit: Finance