Community Health Systems has sold Payson Regional Medical Center in Arizona to Banner Health.
Terms of the sale of the 44-bed hospital were not disclosed. Banner Health is a Phoenix-based nonprofit health system with 23 hospitals in six states. Following the deal, CHS will continue to operate three hospitals in Arizona.
Shares of CHS (Ticker: CYH) were down Friday afternoon to $58.51. Year to date ,they're up 8.5 percent.
Artist manager Stuart Dill has been named Vanderbilt University Medical Center's entertainment industry liaison.
In his new role, Dill (pictured) will develop the strategic partnership between VUMC and the entertainment industry to communicate health care advances and build upon philanthropic interests.
Dill is the founder of Dill Management Group and has managed artists including Minnie Pearl, Dwight Yoakam and Bill Ray Cyrus, among others.
"Nashville’s two most dynamic and well-known industries are health care and music," C. Wright Pinson, deputy vice chancellor for health affairs and Vanderbilt Health System CEO, said in a release. "At VUMC, we know and appreciate the numerous important contributions from the entertainment industry that similarly improve our community and quality of life. Together, we have accomplished much and see the opportunity to do even more to benefit Nashville and Middle Tennessee. We are fortunate to have someone of Stuart’s caliber join us as we continue to build upon these relationships with our entertainment industry colleagues."
A baker's dozen of companies will make up the Innovator's Row exhibition area at the Health:Further conference being hosted next month by Jumpstart Foundry. Among them are some well-known names such as Amplion, TriZetto and HCA Holdings' Parallon division, which is the gathering's headline sponsor. Others are less known but also promise to show how their technologies can be integrated into the health care system.
“There are so many emerging companies that are changing the healthcare landscape today. Innovator’s Row will give exposure to some of these companies in a handson way,” said Jumpstart Foundry CEO Vic Gatto. “There’s a lot of good that can come from large healthcare companies interacting with emerging companies.
Avondale Partners analyst Paula Torch says investors should expect generally good second-quarter numbers from hospital operators in the coming weeks. The recent positive preview from industry leader HCA Holdings was a good tell and should generally translate to other operators. Torch expects LifePoint report earnings per share of $1.01, two cents above analysts’ consensus, on the back of good patient volumes, better cost controls and the upgrading of acquired hospitals. But she’s not as bullish on the prospects of Community Health Systems, which she expects will earn 88 cents per share, a penny less than consensus. But revenues should be strong, she says, helped by easier comparisons to last year’s Q2 and helping to offset spending on doctor recruitment at former HMA hospitals.
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