Search

The article discusses strategies in integrating a hospital that has been acquired into the operations of a hospital company. LifePoint Hospitals established a transitional services division to help the development team in understanding the target hospital to be able to make an appropriate final offer in the definitive agreement, in addition to developing a strategic plan for the first three to five years under LifePoint ownership. Companies are advised to take advantage of opportunities to communicate with its future employees. INSET: ON THE SAME PAGE.

Focuses on the emergence of investor-owned hospital chains in the U.S. Assessment of the reason for the emergence by Bruce Lynskey, entrepreneurship professor at the Owen Graduate School of Management at Vanderbilt University in Nashville, Tennessee; Advantage of the hospital business over pharmaceuticals, biotechnology and medical devices business; Comments from James Forbes, managing director and head of healthcare industry banking for Merrill Lynch & Co. on investor-owned companies. INSET: Not in a hurry to grow.

The article reports on the decision of Health Management Associates (HMA) to switch from Pro-MED Clinical Systems to Medhost as its supplier of emergency department technology. In 2010, HMA Chief Information Officer Ken Chatfield launched an evaluation of every information technology system used by the firm. Particular focus is given to the lawsuit filed by Tenet Healthcare Corp. against Pro-MED. Chatfield explains the key consideration for HMA in choosing Medhost systems.

The article focuses on the decision of Community Health Systems to increase its offer to acquire Tenet Healthcare Corp. A motion has been filed by Tenet to begin discovery in its federal lawsuit against Community, outlining the documents that Tenet contends shareholders need to see in order to make a decision on the bid. Community also set a deadline for Tenet to begin discussions or they will withdraw the offer.

The article reports that Community Health Systems has spoken publicly for the first time regarding a federal lawsuit by Tenet Healthcare Corp. alleging that Community failed to disclose the company's potential Medicare-fraud liability in its bid to acquire Tenet. Tenet contends that Community is at risk because it has improperly admitted patients for one day instead of observational visits. Community chief executive officer (CEO) Wayne Smith countered that observation rate is an invalid metric to assume improper hospital admission.

The article reports on the plan of HCA to issue an initial public offering (IPO) in 2011. HCA sold three bond offerings totaling 3.05 billion U.S. dollars in 2009 for paying down term loans due in 2012 and 2013, followed by two more issues totaling 2.95 billion U.S. dollars in 2010. The hospital company is expected to issue the IPO during the week of March 7, 2011 to begin trading on the New York Stock Exchange.

The article discusses the forecasts of Tenet Healthcare Corp. about its finances from 2011 through 2015. The company wants its earnings before interest, taxes, depreciation and amortization (EBITDA) margin to be between 16% and 18% in 2015, or go beyond the Tenet-estimated industry average of under 15% for 2010. To achieve this, Tenet Healthcare Corp. will implement initiatives like improving outpatient services, expand the Conifer Health Solutions business, and make cost savings and clinical improvement from standardization of care.

The article reports on the dispute between HCA and the Tennessee Health Services and Development Agency over HCA's proposal to build a 56-bed hospital in Spring Hill. The certificate-of-need (CON) awarded to HCA is being appealed by Williamson (Tenn.) Medical Center and Maury Regional Hospital, the nearest hospitals to Spring Hill. But the agency chose a joint venture (JV) of Maury Regional and Vanderbilt University Medical Center to build a radiation oncology center in Spring Hill over a similar proposal made by HCA after the JV filed its plans.

The article focuses on the link among healthcare companies in Nashville, Tennessee. The author says that Hospital Corp. of America (HCA) is at top of this connection and its dominance extends to 2 main branches, including HealthTrust, its former spinoff that was reacquired by Columbia/HCA Healthcare Corp. It says that the link is most visible among the executives, which include Charles Martin Jr. who worked for HCA and then with HealthTrust and David Vandewater, former chief operating officer of Columbia Healthcare Corp.

Reports on the civil settlement agreement between Erlanger Health System and U.S. Attorney Harry Mattice Jr. in Chattanooga, Tennessee. Significance of the settlement payout to public hospitals; Background on the case; Terms of the agreement.

Reports on the restructuring of the Medicaid programs of several states in the U.S. to control medicare costs. Amount of insurance premiums that would be paid by some Medical recipients in California under Governor Arnold Schwarzenegger's plan to control healthcare spending; Benefits of the proposal of Florida Governor Jeb Bush to cap Medicaid spending; Impact of healthcare funding cuts on hospitals in Tennessee.

Reports on the acquisition of Roman Catholic system hospital by Ardent Health Services in Nashville, Tennessee. Negotiations on the sale of St. Joseph healthcare System; Plans of Ardent to renovate the Behavioral Healthcare Corp.; Value of the acquisitions.

Investigates the plans of hospital executive to change the process of certificate-of-need (CON) law in Tennessee. Approval of the Tennessee Hospital Association members on the plan; Plans of Wellmont to file a suit for CON; Improvements in open-heart surgery and neonatal intensive-care services.

Provides information on several barbecue cookery at several restaurants in the United States. Arthur Bryant's Barbeque in Kansas City, Missouri; Capital BBQ in Frankfort, Kentucky; Corky's Bar-B-Q Restaurant in Memphis, Tennessee.

The article announces the expansion of the service-line affiliations of Nashville, Tennessee's Vanderbilt University Medical Center to Northcrest Medical Center in Springfield, Massachusetts, Maury Regional Medical Center in Columbia, South Carolina and Williamson Medical Center in Franklin, Tennessee. It says that the affiliation will provide a structure for forming collaborations in new programs. It explains how this will lead to the elimination of overlapping and competing projects.

The article explains the impact of the Medicare acuity drop on U.S. hospitals. HCA Healthcare faced a revenue loss of 74 million dollars due to the Medicare acuity decline from July to August 2011, prompting HCA to purchase 1.5 billion dollars worth of Bank of America stakes in the healthcare provider. The acuity decline has caused the uncertainty in the U.S. healthcare sector along with the approval of the Budget Control Act and the Patient Protection and Affordable Care Act.

The article reports on the drop in acuity in the Medicare business of Hospital Corp. of America (HCA) in Nashville, Tennessee. According to the HCA, volume of admissions rose by 1.8 percent and 1.9 percent in equivalent admissions in the second quarter of 2011. The lower acuity of HCA were reported in surgeries and additional medical admissions. Some reasons for the lower acuity are cited, including the soft economy and drug enhancements.

The article focuses on HCA's 1.45 billion U.S. dollars acquisition of the Colorado Health Foundation's 40% stake in HealthOne.

The article reports that Nashville, Tennessee-based Vanguard Health Systems gained 450 million U.S. dollars from its initial public offering (IPO) of 25 million shares sold at 18 U.S. dollars per share. The gross was below its expected total of 550 million U.S. dollars and sale price of 22 U.S. dollars per share. Vanguard, which could receive additional funds from investment underwriters, will use the proceeds to pay off senior discount notes due in 2016.

The article offers information about the Hospital Corporation of America's (HCA) initial public offering (IPO) in March 2011. The company and some of its shareholders were able to sell 126.2 million shares at 30 U.S. dollars a share. The shareholders can sell additional shares to the investment banks that performed underwriting services for the IPO. Jeff Villwock, a managing director of Genesis Capital in Atlanta, shared that he encouraged clients to buy shares of HCA, and claims that underwriters can exercise their full option to buy additional shares.

The article reports on the financing moves of two U.S. health care systems, including a plan by HCA of Nashville, Tennessee to make a 2 billion U.S. dollar distribution to its shareholders and the decision of the Community Health Systems of Franklin, Tennessee and its creditors to extend the maturity on 1.5 billion U.S. dollars it owes under term loans.

The article reports on healthcare mergers and acquisitions in September 2010. Iasis Healthcare has announced that it is acquiring Brim Holdings and its two hospitals, Wadley Regional Medical Center in Texas and Pikes Peak Regional Hospital in Colorado, for 95 million dollars. An unsolicited bid valued at over 18 billion dollars was made by French drug manufacturer Sanofi-Aventis for Genzyme Corp. Patient-warming surgical devices maker Arizant will be acquired by 3M for 810 million dollars.

The article reports on the RegionalCare Hospital Partners startup established by Martin Rash, former chairman and chief executive officer (CEO) of Province Healthcare Co. The Brentwood, Tennessee-based startup hospital company is backed by a commitment of $300 million in equity by private equity group Warburg Pincus. RegionalCare plans to focus on acquiring and operating hospitals in nonurban markets.

The article features Jeff Balser, who will be replacing Harry Jacobson as vice chancellor for health affairs at Vanderbilt University in Nashville, Tennessee. A nephrologist by training, Jacobson co-founded Renal Care Group, a dialysis provider, while he was on the faculty at Vanderbilt, but before he rose to its top healthcare job. Balser, meanwhile, completed a dual program at Vanderbilt that combined medical school with a Ph.D. in pharmacology.

The article presents information related to hospital companies in Tennessee. LifePoint Hospitals in Brentwood, is looking to buy hospitals once again, after not making a hospital acquisition since July 2006, when it closed on the purchase of five hospitals from Nashville-based HCA. Community Health Systems in Franklin, said it is done paring its portfolio after its acquisition of Triad Hospitals in July 2007.

This article states that HCA's proposal to build a hospital in Spring Hill, Tennessee, may be "the most scrutinized" certificate-of-need application in the state's history, one of HCA's lawyers said. And even with the Tennessee Health Services and Development Agency board giving the 56-bed project its approval for the second time, there is no guarantee that the scrutiny is over.

The article reports on the plan of HCA to challenge a ruling by a Tennessee administrative law judge that overturned its certificate-of-need (CON) approval to build a hospital in Spring Hill. It is planning to ask the state Health Services and Development Agency to review the ruling and reinstate the CON. It cites that the administrative law judge found the company's estimates for population growth in Spring Hill unreasonable. HCA states that the ruling did not diminish its commitment to provide healthcare services.

The article reports that Baptist Health System of East Tennessee have signed a letter of intent to merge with not-for-profit organization Saint Mary's Health System. Company executive Janice James claims that the proposed merger would make a system of roughly the same size as the largest adult acute-care system in Knoxville. The combined system is expected to have an annual revenue of about $600 million.

The article reports on the proposed leveraged buyout of HCA Inc. The $33 billion leveraged buyout that would make HCA a private company for the third time appears well on its way to completion by year-end. The buyout offer includes a 50-day go shop provision allowing the Nashville-based company to solicit competing offers, subject to a $300 million penalty if another bid were chosen.

The article offers a career background of Wayne Smith, chairman, president and CEO of Brentwood, Tennessee-based Community Health Systems. He is ranked third in the recent ranking of the highest-paid executives at publicly traded acute-care hospital chains conducted by "Modern Healthcare." According to Community spokeswoman Rosemary Plorin, Smith has been serving as a director of privately held Spheris. He also serves on the board of Gordian Health Solutions, a company that provides employee wellness programs.

The article reports that HCA and Spring Hill, Tennessee is scheduled to go before state regulators to seek a certificate of need to build a hospital in Spring Hill on July 26, 2006. Maury Regional Hospital in Columbia and Williamson Medical Center in Franklin are making their last-ditch effort to ruin the plan of HCA. In its certificate of need application, HCA said that the proposed hospital is needed to bring services closer to the 60,000 people who are projected by 2010 to live in the two ZIP codes closest to the hospital site.

The article reports on the appointment of Jonathan Perlin as senior vice president of quality and chief medical officer at Nashville, Tennessee-based private hospital chain HCA, effective August 17, 2006. Perlin, a physician, became acting undersecretary in 2004 and subsequently was named to the permanent position in which he served as chief executive officer of the nation's health system. Perlin will replace Frank Houser, a pediatrician who is retiring in 2006 after 12 years with HCA.

This article reports on the action taken by Nashville, Tennessee-based HCA to split its 191 hospitals into three groups rather than two. According to Professor Shoou-Yih Daniel Lee, the advantage of the size of HCA is the ability to provide corporate services to its hospitals at lower cost than a smaller group of hospitals, including information technology, billing and group purchasing. The split also gives the company's midlevel executives more chances for advancement, which may improve morale in their ranks. Upper-level executives many enjoy having fewer people, reporting directly to them as well. The smaller groups would enable group executives to provide more direct support to individual markets.

Reports on the decision of nonurban hospital chains Community Health Systems Inc. in Brentwood, Tennessee, and Health Management Associates (HMA) Inc. in Naples, Florida, to acquire hospitals in states in which they have significant holdings. Execution of an agreement to buy Bradley Memorial Hospital in Cleveland, Tennessee, by Community; Reasons behind the sale of Bradley Memorial; Letter of intent to acquire nonprofit Gilmore Memorial Hospital in Amory, Mississippi, signed by HMA; Competition from larger regional systems faced by Gilmore Memorial.

Deals with the proposed hospital construction in Tennessee. Move of the Tennessee Health Services and Development Agency to deny the request of the Diversified Specialty Institutes (DSI) and the Healthcare Management Directions (HMD) company to build a hospital in Nashville; Approval of a hospital construction in the northern part of Knox County; Arguments that hospitals being proposed by the DSI and the HMD would unnecessarily duplicate health services in the state.

Reports on the bad-debt expenses of investor-owned hospital chains Triad Hospitals in Plano, Texas and Community Health Systems in Brentwood, Tennessee as of March 2004. Effects of after-tax charges on the profits of the hospitals; Amount of the charges imposed to Triad in 2003; Views of Burke Whitman, chief financial officer of Triad on the hospital's bad-debt expenses; Statement of Larry Cash, chief financial officer of Community Health on bad-debt expenses.

Presents information on the plan of Attentus Healthcare to buy small and rural hospitals in Nashville, Tennessee. Amount of money raised by the company to buy the hospitals; Investors of the company; Plans of the co-chief executive officers Richard Gore and Robert Yeager for the company.

Reports on the dispute between Sumner Regional Health Systems and Sumner County officials in Tennessee over the conversion of Sumner Regional Medical Center to a not-got-profit system on a lease from the county. Budget deficit facing the county; Lease terms demanded by Sumner County; Earnings made by the health system in the fiscal year ended September 30, 2002.

Reports on the move of Tennessee Department of Commerce and Insurance to liquidate managed-care organizations Universal Care and Xanthus Health Plan that serves the TennCare, Medicaid program of the state. Background on the cancellation of the contracts of the organizations; Reaction of TennCare beneficiaries to the cancellation; Details on the liquidation petitions for the organizations.

Reports on the decision of the company HCA to sell hospital in swap for certificate-of-need (CON) peace agreement in Nashville, Tennessee. Details of the CON agreement reached by HCA with a not-for-profit competitor; Information on the hospitals sold by the company; Business operation of HCA.

Focuses issues related to the certificate-of-need (CON) process in the healthcare industry of Tennessee. Information on the dispute between Wellmont Health System and Mountain States Health Alliance; Information on a bill being considered by legislators in the state which is intended to overhaul the state's CON process.

Reports on the qualification of Johnson County Health Center in Tennessee of Medicare's critical-access hospital program. Brief background on Johnson County Health Center; Details of Medicare's critical access hospital program; Eligibility of Johnson County for federal grants to buy hospital equipment.

Reports on the impact of the anthrax scare on the healthcare industry in the United States as of October 22, 2001. Number of people who participate in the educational sessions on anthrax at Saint Vincent's Hospital Manhattan in New York; Amount that the federal government is recommended to spend to fight bioterrorism; Reason for the closure and quarantine of Memorial Hermann The Woodlands Hospital in Texas; Fine imposed on a nurse in Tennessee for playing an anthrax joke.