Vanderbilt University's Center for Technology Transfer and Commercialization and the Memphis Bioworks Foundation have agreed to work together to develop medical device technology concepts coming out of the university, most specifically by giving Vanderbilt applicants fast-track access to Bioworks' ZeroTo510 incubator. The partnership also will give VU-based startups better access to investment capital via Bioworks' relationship with pre-seed and early-stage firm Innova.
A South Carolina dialysis facility owned by Nashville-based Dialysis Clinic, Inc. could lose its Medicare reimbursements, according to the Spartanburg Herald Journal.
The Centers for Medicare and Medicaid Services published a public notice this week reporting that the facility had failed to meet infection control standards and would not be reimbursed for services provided after July 25.
Jessica Emler, a spokeswoman for the center's parent company based in Nashville, said an inspection of the facility was conducted on June 27. The company was notified about the center's deficiencies a few days later. Emler said the company has until July 12 to review the regulator's report and put together a plan to make the changes that will allow it to stay in compliance. The process would allow for a second inspection of the office on or before July 25 to re-establish the facility's compliance. “We have no plans to close this facility,” Emler said.
UBS Securities analyst A.J. Rice says HCA's second-quarter profits won't look great at first blush — comparisons with year-ago numbers will be tough for a number of reasons — but adds that he's heartened by executives' positive tone earlier this quarter. Rice has lifted his price target for the stock of Nashville's largest company (Ticker: HCA) to $67 from $58 and is optimistic hospital operators will say they're benefiting nicely from health insurance reform. HCA shares fell almost 2 percent Tuesday to $54.52 but are up about 15 percent year to date.
There are far fewer reasons to be optimistic for Louisiana-Pacific investors these days, judging by the moves of analysts at Dundee Securities and RBC Capital Markets. At the first firm, Steve Atkinson on Tuesday launched coverage of the construction materials manufacturer with a 'sell' rating and $13 price target, which is 14 percent below where LP shares (Ticker: LPX) began trading yesterday. Atkinson's main reason is a price war that will hurt margins and has him projecting a Q2 loss that stands in sharp contrast to the consensus. At RBC, Paul Quinn has cut his rating to 'sector perform' from 'outperform' and sees LP shares climbing back to only $16 in the coming quarters.
Local behavioral health player Centerstone has wrapped up its absorption of The H Group and BBT Inc., two peers with operations in Illinois and Kentucky.
The move, which became effective July 1, connects Centerstone's operations in Tennessee and Indiana and takes the organization into the Land of Lincoln for the first time. The combined Centerstone organization now runs 146 locations that serve more than 84,000 people and has about $160 million in annual revenues.
“As we have explored bringing Centerstone and The H Group together over the past few months, we have grown even more excited about the possibilities we see to transform the delivery of care and improve the lives of people with mental illness, addictions and intellectual and developmental disabilities,” said Centerstone CEO David Guth. “It has been inspiring to see how well the missions, visions and strategic directions of our organizations align.”
Centerstone has formed two new entities to run its Illinois and Kentucky operations and named H Group CEO John Markley to be their CEO.