Colorado health care IT solutions provider names former BCBS of Tennessee CEO non-executive chair
The TriZetto Corp. Board of Directors of has named Vicky Gregg, a former BlueCross BlueShield of Tennessee chief executive officer and member of TriZetto's board of directors since 2008, as non-executive chair.
Gregg has more than 35 years of experience in health care environments including clinical care, hospital administration, long-term care, and health care benefits and financing. She has spent time on the boards of directors of numerous health care companies, including serving as the chair of the board of directors of America’s Health Insurance Plans.
Gregg replaces Trace Devanny, who will be leaving the company, effective immediately, to "pursue other opportunities," according to a press release. An executive search is underway for a permanent CEO.
TriZetto Corp. is based in Greenwood Village, Colo., and provides health care IT solutions to payers and providers.
Jude Dieterman, who currently serves as Executive Vice President and Chief Operating Officer of TriZetto, has been appointed to the newly-created role of President. In this capacity, he will serve as the principle executive officer assuming day-to-day operational responsibilities for all aspects of the business. Mr. Dieterman has been with TriZetto for two years, and prior to that held a variety of executive positions over an eight-year period at Cerner Corporation, a global healthcare IT company. Before joining Cerner, Mr. Dieterman was President and Chief Operating Officer of eScout, an ASP in the banking business, and President and Chief Operating Officer of VTech Industries, where he founded and implemented VTech’s corporate Internet division in the late 1990s.
“I am thrilled to support Jude in his new role and have complete confidence in TriZetto’s leadership team as we enter this next chapter for the company,” said Gregg. “I look forward to drawing on my industry and client experience to optimize the world-class TriZetto solutions that help health plans, TPAs, health systems and physicians increase efficiency, improve the cost and quality of care, and succeed in the retail healthcare market.”
Avondale: Mixed picture for CCA in new California plan
Analyst Kevin Campbell at Avondale Partners has run through the details of California Gov. Jerry Brown's new (court-mandated) plan to reduce overcrowding in the state's prisons and sees a mixed bag for Corrections Corp. of America. On the one hand, Campbell says competitor GEO Group looks better positioned to benefit from Brown's plan to use more private prison beds in the state because it has more capacity there. But on the other hand, Brown's plan also calls for a slower return of California inmates now being housed by CCA in other states. Rather than cut the out-of-state tally from more than 8,000 to about 2,700 by mid-2014 as previously envisioned, Brown now plans to trim that number to about 4,100.
At first glance Friday, investors appeared to be OK with Brown's plan, pushing CCA shares (Ticker: CXW) up 1.7 percent to $37.07.
Analyst action: Acadia, Tractor Supply
Brian Tanquilut at Jefferies says investors are right to look at Acadia Healthcare as a solid M&A play in the behavioral health sector. But, he added late last week in raising his Acadia price target to $39 from $30, the company also is doing a very nice job raising margins at facilities once it owns them. Acadia (Ticker: ACHC) closed Friday trading at $31.64 and is up 35 percent so far this year.
Oppenheimer analyst Brian Nagel has hiked his rating on shares of Tractor Supply to ‘market outperform’ and lifted his price target to $125 from $100. That puts him at the head of the pack and alongside David Strasser from Janney Montgomery Scott. Tractor Supply shares (Ticker: TSCO) ended last week at almost $111.
Lots of urban residential construction going on
For those Post readers who follow development closely and like tall buildings, consider this: Currently, Nashville's urban core has three residential buildings of 70 feet or taller under construction: Ray Hensler's Laurel Apartments, Pine Street Flats (see below) and Park Central (rising on 25th Avenue across from Centennial Park).
Also, Southern Land's Elliston 23, which will soon be completed, might be 70 feet. This current round of construction started in 2012. So the city would need at least eight more residential buildings of note (that is, buildings that offer some substantial height) to start and be finished through 2017 to tie the number (11) from the previous boom of the mid-2000s (from 2003 to 2008). The city should get one started soon with the Southern Land building in Green Hills. Also, the Faison building on Demonbreun might hit 70 feet, as it will be six stories.
Songwriter claims Paisley-Underwood hit 'Remind Me' was stolen
A Dallas-based singer-songwriter is suing country singers Brad Paisley and Carrie Underwood regarding their 2011 hit “Remind Me.” Amy Bowen, who lived in Nashville and performed under the name Lizza Connor, claims she wrote “Remind Me” in 2007 — and that the 2011 country hit was a rip-off of her song. Pierce Greenberg and The City Paper have the story here.
And you thought printed newspapers faced a bleak future
Wehco Media Inc. will purchase a printing press in an effort to increase color capability and production efficiency of its Chattanooga Times Free Press daily newspaper. Interestingly — and could this be a trend for many papers? — the Times Free Press saw advertising revenues increase in the first quarter of 2013. Read more here.
R2D2 will get new signage next weekend
Updated May 8 with the event's correct date
Weather permitting, a team of workers and a helicopter will next Sunday install two Regions Bank signs atop One Nashville Place, the bank's new regional headquarters. The first of the 47-foot wide signs is scheduled to be placed atop the 360-foot tower beginning around 6:30 a.m.
NHC tallies the cost of nonprofit suits settlement
National HealthCare Corp. executives have run the numbers on last week's broad legal settlement with two nonprofits. The operator of nursing homes will pay more than $6.6 million to the receiver for ElderTrust and SeniorTrust and its final tab comes to $4 million pre-tax, $2.5 million after taxes.
Barnett to open Berry Hill Chiropractic and Wellness
Local chiropractor Dr. Beth Barnett will leave Green Hills Chiropractic to open the Berry Hill Chiropractic and Wellness clinic, with a launch in temporary space at 2709 Bransford Avenue slated for June 3.
The clinic will move to its permanent home at 2805 Azalea Place in the fall.
“It’s important to me to keep a close relationship with my patients,” Barnett, a 28-year health care veteran, said in a release. “Berry Hill Chiropractic will be a more relaxed atmosphere and allow me the flexibility to accommodate my practice while introducing more innovations in care options.”
Barnett, who graduated from Logan Chiropractic College, is a native New Yorker. She is board qualified as a diplomat of the American Board of Chiropractic Orthopedics. Barnett also completed postgraduate studies in acupuncture in 2004 and is a member of the American Chiropractic Association and the Tennessee Chiropractic Association. She is the current secretary of the Tennessee Chiropractic Association.
Waller leases space in Austin
Nashville-headquartered law firm Waller Lansden Dortch and Davis has signed a lease for space on the 22nd floor of the 100 Congress Building in downtown Austin. The move follows Waller announcing its expansion to Austin in June 2012.
The 10,799 square feet of Class A office space will house the firm’s growing team of attorneys and staff led by Waller partners Elizabeth Rogers and Fletcher Brown, as well as Amanda Jester, who is joining the firm on May 6.
Will Douglas and Jerry Frey with CBRE Austin represented Waller in the transaction. Troy Holme and Katie Ekstrom, with CBRE in Austin, represented the landlord, New York-based Metropolitan Life Insurance Company.
“CBRE worked closely with Waller COO Teresa Walker to source a prime CBD location which would give the firm an immediate and noteworthy presence in Austin,” said Jerry Frey, a senior vice president. “We were able to negotiate and bring to consummation the lease transaction in less than 90 days due to Waller’s clear objectives and decisive action.”
