News on Nashville's Health Care Industry |
{daily nashville health care news compiled by the nashville health care council} |
11.04.2004
Psychiatric Solutions shares increase 13.4% (The Tennessean)
Shares of Psychiatric Solutions Inc. surged 13.4% yesterday after the federal Centers for Medicare and Medicaid Services issued new payment rules that analysts said would be ''very positive'' financially for the Franklin-based health-care company. Related Stories: Nashville Post (subscription required) Adams leaving as CEO of National Healthcare (The Tennessean) Andy Adams has stepped down as chief executive officer of National Healthcare Corp., a Murfreesboro nursing home operator, and will take a more active role in National Health Investors, a real estate trust that owns nursing homes, the companies announced yesterday. Saint Thomas, Baptist reach deal with Aetna (The Tennessean) Individuals who are insured by Aetna can go back to Saint Thomas and Baptist hospitals in Nashville on Jan. 1 without paying higher out-of-pocket expenses. The two hospitals signed a two-year contract with Aetna on Monday and are rejoining the insurance company's managed care network. The hospitals left the network about a year and a half ago after they were unable to agree on rates with Aetna. American HomePatient shares soar on profit report (Nashville Business Journal) American HomePatient Inc. posted third-quarter profits of $3.0 million on revenue of $83.5 million. Those numbers are up from $426,000 and $83.9 million a year ago. Florida BlueCross vet named to managed care post at HCA (Nashville Business Journal) HCA Inc.'s MidAmerica division, which includes the TriStar Health System, has hired James Koss to be its director of managed care. Magazine names Tennessee a top biotech location (Nashville Business Journal) Business Facilities magazine has ranked Tennessee among the nation's top states as an attractive location for biotech companies. Local SPI unit hires new VP of operations (Nashville Business Journal) Medical transcription services firm SPI Healthcare Documentation LLC has hired former Ardent Health Services project manager Jeffrey Marwill as its vice president of operations. Community Health signs letter of intent on Pa. hospital (Nashville Business Journal) Chestnut Hill HealthCare announced Tuesday that the University of Pennsylvania Health System and Brentwood-based Community Health Systems Inc. have signed a letter of intent to acquire and operate the facilities owned by the Chestnut Hill system. American Healthways' Stone sells $1.3M in stock (Nashville Business Journal) American Healthways Inc. Executive Vice President and co-founder Bob Stone completed a sale of stock in the company last week that netted him about $1.3 million. BioMimetic raises $25.7 million in new financing (Nashville Post, subscription required) Franklin's BioMimetic Pharmaceuticals said Thursday that it has secured $25.7 million in a Series C round of financing. The funds were provided by lead investorInterWest Partners and by CMEA Ventures and MC Life Science Ventures and current investors Burrill & Co., Novo A/S, Holden Capital and MB Venture Partners. IMRAC sold to Atlanta firm (Nashville Post, subscription required) Business Computer Applications (BCA) has completed its acquisition of IMRAC, a Nashville-based application services provider that offers billing, collections, and claims management services to provider, payors and large self-insured groups. Audit Committee Continues Albuquerque Review for Ardent Health Services (BUSINESS WIRE) Ardent Health Services today announced that the public release of its third quarter financial results and the filing of its Form 10-Q for the third quarter of 2004 will be delayed to provide additional time for its Audit Committee to complete the previously announced independent review of accounting practices at Lovelace Sandia Health System, Inc., Albuquerque, N.M. The company anticipates that the review will be completed and any delayed regulatory filings will be made by the middle of January 2005. Related Stories: PR Newswire American Healthways Expands Relationship with Wellmark Blue Cross and Blue Shield (BUSINESS WIRE) American Healthways Inc., (Nasdaq:AMHC) today announced a new five-year agreement with Des Moines, Iowa-based Wellmark Inc. to provide its disease management and care enhancement services to approximately 600,000 fully insured individual and group members of Wellmark Blue Cross and Blue Shield and Wellmark Health Plan of Iowa, Inc.'s health plans beginning Jan. 1, 2005. American Retirement Reports Third Quarter Results (BUSINESS WIRE) American Retirement Corporation (NYSE:ACR), a leading national provider of senior living housing and care, today reported its financial results for the quarter ended September 30, 2004. OUR INDUSTRY U.S. Health-Care Stocks Decline, Led by Merck; PeopleSoft Gains (Bloomberg) U.S. health-care stocks declined, led by Merck & Co., after a Wall Street Journal report that the No. 2 U.S. drugmaker tried to stop safety concerns from wrecking the commercial prospects of its Vioxx painkiller. Benchmark indexes were little changed the day before the presidential election. National polls show a statistical tie between President George W. Bush and Senator John Kerry. "The election is an important issue and has been keeping the market from making any specific moves,'' said James Fisher, who manages $900 million at Univest Corp. of Pennsylvania. "You have people waiting because this thing could drag out. It's the uncertainty and not knowing what the next six months holds.'' The Standard & Poor's 500 Index slipped 0.19 to 1130.01 as of 9:56 a.m. in New York with gains in PeopleSoft Inc. limiting the drop. The Nasdaq Composite Index fell 2.08, or 0.1 percent, to 1972.91. The Dow Jones Industrial Average added 7.53, or 0.1 percent, to 10,035. . Emergency Nurses Association Creates First Ever Academy to Honor Top Emergency Nurses, The Academy of Emergency Nursing Inducts its First Class in 2005 (U.S. Newswire) The Emergency Nurses Association (ENA) today announced the creation of the first-ever Academy of Emergency Nursing to honor emergency nurses who have made enduring and substantial contributions to the profession. The ENA Board of Directors voted to establish the academy at the ENA's 2004 Annual Meeting in September. The Academy's first inductees will be named at the 2005 ENA Annual Meeting in Nashville. 11.02.2004
6 independent hospitals agree to Ardent leases (The Tennessean)
Ardent Health Services announced yesterday that it had completed leases with six regional hospitals that are part of the Hillcrest HealthCare System in Tulsa, Okla. Related stories: Nashville Business Journal PRNewswire Nashville Medical Group Managers Association has announced members of its board for 2005: (The Tennessean)
Alive Hospice has announced these additions (The Tennessean)
Baptist, Saint Thomas back in Aetna network (Nashville Business Journal)
Related stories:
Vanderbilt to manage children's ICU at Gateway Med Center (Nashville Business Journal)
Psychiatric Solutions shares rally 12%, upgraded (Nashville Post, subscription required)
Former Cambio CEO starts new company, buys two Tenet hospitals(Nashville Post, subscription required)
Plenty of promise, but few jobs seen in Tennessee life sciences sector (Nashville Business Journal, via MSNBC)
The innovation pipeline, as identified by a Milken Institute study, shows Tennessee at the middle of the pack or behind most states. A slew of measurements, including industrial research and development, National Institutes of Health funding, venture capital investment, patents and clinical trials gave the state an overall rating of 33rd nationally.
Rash to take $900K LifePoint consulting post (Nashville Business Journal)
Our Industry Vanderbilt Economists Receive NIH Grant to Study Long-Term Health Effects of Head Start (AScribe.org) Duke Realty joint venturing on health care properties (Nashville Business Journal)
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