The board of Coffee Health Group, the much-coveted hospital system in Alabama's Muscle Shoals area, has voted in favor of selling to RegionalCare Hospital Partners. The non-binding vote has to be followed up by nods from local government entities.
"RegionalCare was the only one of the four to bring such a strong capital commitment to health care in the Shoals," Pigg said. "We haven't talked specifics of equipment, but these will be global dollars that will help grow the services we have here."
Feb 24, 2010 7:26 AM
Saint Thomas Health Services Outpatient Rehabilitation is partnering with local nonprofit group BH1 to open 15 new Baptist Sports Medicine and Life Therapies clinics over the next 18 months. The clinics will be located throughout Tennessee, northern Alabama and southern Kentucky. Services include sports and orthopedic rehabilitation, occupational therapy, speech therapy, nutritional services and athletic training among others.
Feb 23, 2010 7:18 AM
Community Health Systems has removed the interim tag from Keith Granger's CEO title at Trinity Medical Center on the north side of Birmingham. Trinity has been trying to move into an unfinished HealthSouth hospital nearby, a move that has been contested by its local rivals.
Feb 16, 2010 7:54 AM
Coffee Regional Health Group's local paper reports on behind-closed-doors board meetings on acquisition talks that, at least for now, still include Iasis Healthcare, RegionalCare Hospital Partners and their two competitors. But apparently RegionalCare has sweetened its proposal:
What is known about the four organizations is that each have proposed a method to deal with Coffee's $140 million in debt. Each also have agreed to continue Coffee's policy of caring for indigent and uninsured patients. One organization, RegionalCare, also has presented a plan construct a new hospital for Lauderdale County.
Feb 11, 2010 8:18 AM
Cool Springs-based D1 Sports is preparing to open a 14,000-square-foot facility near Samford University in Birmingham. On board as co-owners are ex-Crimson Tide QB Brody Croyle and teammate DeMeco Ryans as well as a bobsled Olympic medal winner. It's D1's ninth facility.
Feb 8, 2010 8:25 AM
Looks like Iasis and RegionalCare have some allies on the ground in Alabama. A local physician group that wants to see a single hospital in the Shoals region is opposing an affiliation agreement between Helen Keller Hospital and Huntsville Hospital. Both Iasis and RegionalCare are among four for-profit companies trying to buy nearby Coffee Health Group, which could lead to a single facility serving the region.
Florence Councilman Barry Morris, who is on the council's finance committee, said he's checked the financials on each of the four interested for-profit organizations. "The argument for a single hospital is overwhelming," he said. "But if one of those interested can take a single hospital and make it viable, take that debt and pay it down and then work toward building a new one, I'm not sure how they can do it."
Feb 4, 2010 7:43 AM
An Alabama newspaper over the weekend said there are four private companies vying to buy debt-ridden Coffee Health Group. Beyond local players RegionalCare and Iasis, Texas-based Legacy Hospital Partners and Florida's Healthcare Management Associates are meeting with Coffee executives this week to discuss a potential sale.
Jan 25, 2010 7:36 AM
Iasis Healthcare has emerged as a "front runner" among companies interested in buying debt-ridden Coffee Health Group in Alabama. Marty Rash's RegionalCare Hospital Partners has been in discussions with Coffee since October about a potential deal with the hospital, which is struggling under $140 million of debt. The hospital is also exploring a partnership with two nearby facilities as an alternative to selling.
Jan 11, 2010 11:19 AM
Three prominent doctors in North Alabama's Lauderdale County have told lawmakers there they support Brentwood-based RegionalCare's bid to buy a local hospital system. It's pretty simple, they say: Ensuring good care requires efficiency and money and Marty Rash's new venture can best provide both.
"The way I look at the offers on the table, one entity (Huntsville Hospital) is willing to loan $60 million, another is looking at making a $400 to $450 million investment in the area," Clement said. "The only alternative we can see is a for-profit situation. They would come in and put money into the area because they want the facility to be successful."
Jan 7, 2010 1:44 PM