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Community Health to sell nine hospitals
Community Health Systems has agreed to sell nine of its hospitals to Capella Hospitals, a much-smaller company which currently owns and operates five facilities of its own. The nine facilities, which... Read more...
ALSO NOTED: Triad/Community merger moves ahead; second BCBS of NC pays P4P bonuses; and much more...
> Shareholders have approved the $5.1 billion sale of Triad Hospitals to Community Health Systems. The combined company will operate more than 140 facilities in 28 states. Article
> Working with the N.C. State Health Plan, Blue Cross and Blue Shield of North Carolina has doled out $800,000 in pay-for-performance bonuses. …
... Read more...ALSO NOTED: Tenet avoids shareholder suits; Mass. pitches health plan enrollment; and much more...
> Even though the company's paying a fraud settlement, Tenet Healthcare shareholders will have trouble suing, thanks to a hand from the Securities and Exchange Commission. Article
> The state of Massachusetts is launching an ad campaign in conjunction with the Boston Red Sox baseball team encouraging citizens to enroll in a health plan. …
Genesis HealthCare fights for takeover approval
Long-term care provider Genesis HealthCare is fighting to gain shareholder approval for a proposed buyout by investors, hoping to win shareholders back after an adverse recommendation by an advisory firm put the deal in doubt. Genesis, which operates more than 200 skilled nursing centers and assisted living residences in addition to providing contract rehab services to 600 providers, has been offered $63 per share by private equity firms Formation Capital and JER Partners. However, the …
... Read more...ALSO NOTED: CVS approves Caremark merger; Ethnicity affects end-of-life care; and much more...
> After several months of wrangling over a counter-offer from Express Scripts, CVS shareholders have agreed to merge with Caremark Rx. Article
> A new report by the California HealthCare Foundation suggests that racial, cultural and ethnic factors often dictate what kind of end-of-life care California patients receive. …
... Read more...HCA posts hospital prices online
HCA has decided to roll with the transparency trend. Over the next few months the hospital chain will begin making prices for its services publicly available, starting with hospitals in Dallas, San Antonio and Austin, Texas. HCA expects to start disclosing prices in Tennessee over the next few months, and should roll out the program to all of its 165 U.S. hospitals by this summer. Prospective patients will be able to check out prices for common procedures by following a link on the …
... Read more...Express Scripts, CVS turn up Caremark rhetoric
In the newest attack in the increasingly ugly battle for control of Caremark Rx, rival PBM Express Scripts--currently the spurned suitor--called a dividend offer from drugstore chain CVS a "desperate attempt to save a flawed transaction.". Following yesterday's offer by Express Scripts to take over Caremark, valued at $24.8 billion to $25 billion, depending on whose numbers you believe, CVS sweetened its bid by offering a special cash dividend of $2 per share to Caremark shareholders, …
... Read more...HCA settles shareholder suit
HCA has settled with a group of shareholders trying to block the planned sale of the company to a group of private investors. The settlement, which still must be approved by a judge, involves no direct cash payout, though HCA has agreed to pay the shareholders' attorney fees. HCA also agreed to …
... Read more...SPOTLIGHT: Wall Street watches Cerner as shareholders meet
Cerner shareholders gathered to discuss the company's fortunes this morning and Wall Street is nervous. Cerner shares are up slightly this morning after an up and down week. Analysts have rated the company a strong buy because of its relatively dominant position in the healthcare IT market at a time when interest in the sector is growing. Skeptics wonder if competition may erode that advantage. Meanwhile, Business 2.0 has named the company to its list of the top 100 fastest growing companies. Article
UnitedHealth execs re-elected despite criticism
As expected, shareholders voted to re-elect four UnitedHealth directors at the company's annual meeting this morning despite widespread criticism of the generous compensation packages awarded to CEO Bill McGuire and other top management. Yesterday, UnitedHealth announced a series of changes intended to address shareholder concerns. The company said it will discontinue the practice of equity based awards to senior executives. Also gone is severance compensation in the event of takeover and …
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