Methodist Le Bonheur Healthcare in Memphis and Brentwood-based HealthTrust announced Tuesday a multi-year partnership aimed at helping the former achieve cost-savings goals across its seven-hospital system.
Financial terms of the deal, which begins March 1, were not disclosed in a release.
“We are confident that through our programs and contract portfolio, Methodist Le Bonheur Healthcare will exceed its cost reduction goals,” HealthTrust CEO Ed Jones said. “We’re excited to have the opportunity to drive significant additional value for this new member through the balance of our integrated supply chain solutions and custom sourcing programs.”
Methodist Le Bonheur Healthcare system comprises six adult hospitals and its well-known Memphis-based children’s hospital. HealthTrust, a business unit of Parallon Business Solutions, provides health care business and operational services.
Nashville saw job grown of .5 percent from November 2011 to November 2012, ranking the city third of Tennessee's four major metropolitan areas, according to the U.S. Bureau of Labor Statistics.
Chattanooga enjoyed the best growth of the quartet, with a 1.7 percent jobs numbers increase. Knoxville (1.2 percent) was second, while Memphis (unchanged) was fourth.
As a whole, Tennessee experienced job growth of .9 percent.
A local investment group has acquired a Memphis hotel that closed its doors two years ago. MNR Hospitality, which was formed last month and lists Drake Inn owner Mahesh Kisan as its organizer, paid $3.2 million for the downtown property. The owner had reportedly been seeking $6 million.
Healthcare Realty Trust has paid almost $11 million for a medical office building in the Memphis suburb of Germantown. The Daily News has the details. At the end of last year, West End-based Healthcare Realty (Ticker: HR) had invested about $160 million in 15 outpatient and office buildings in Tennessee.
Recently released U.S. Department of Labor statistics show the average weekly pay in Davidson County rose 9 percent in the first quarter of 2012 compared to the same period for 2011. The county's increase ranks above that of the U.S. average of 5.4 percent.
Nationally, Davidson County ranked 18th highest in average pay growth, placing in the top 6 percent of large counties in the U.S. Knox (Knoxville), Hamilton (Chattanooga) and Davidson counties placed in the highest 20 percent in pay growth, while Rutherford, Shelby (Memphis) and Williamson counties placed in the top 45 percent.
Tennessee average weekly pay rose 6.8 percent over the year, ranking the state eighth highest among the 50 states. By contrast, North Dakota rose 14.6 percent, the highest average pay growth, while New York experienced the lowest growth at negative 0.8 percent over the year.
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