Nashville-based health care technology company Medalogix has announced Shari Heath has been hired as vice president of product management.
Heath (pictured) will be responsible for analyzing the company’s health care policy and provider operations to develop and execute product strategy, according to a release.
“Shari comes to us with 12 years of experience in healthcare IT, including experience in product management and quality assurance,” Dan Hogan, president and CEO of Medalogix, said in the release. “She is a perfect fit to lead the product management team, as she most recently worked as vice president of product management for Homecare Homebase, the largest electronic medical record provider in the home health and hospice industry.”
Heath also served as director of professional services, director of product management and director of quality assurance at Homecare Homebase. She also worked as a customer support manager and product manager at the company.
Heath received her bachelor’s degree in engineering mathematics and computer science from the University of Louisville.
Long-term health care provider National HealthCare Corp. earned a profit of $14.8 million in the fourth quarter, which was down almost 11 percent from the last three months of 2013. Revenues rose 9 percent to $226 million but costs rose a little bit faster and non-operating income fell almost $1.3 million year over year. NHC officials said that excluding that drop as well as operating losses from newly built or leased skilled nursing facilities would have left pre-tax profits up almost 4 percent. NHC shares (Ticker: NHC) closed last week at $63.17 and are flat year to date.
Brooke Sutherland at Bloomberg has looked into how the board of Brookdale Senior Living could react — assuming doing nothing is not an option — to investor Sandell Asset Management's call to spin its properties into a real estate investment trust. Setting up a REIT can be tricky but analysts say the company also sell and the lease back its real estate or sell the entire company to a REIT, which would then spin the Brookdale operating back out.
Brookdale Senior Living has cut another 41 former employees of Emeritus Senior Living, reports the Seattle Times, the final step in reducing Emeritus' staff post-merger.
The layoffs, effective in April, are the last of the 250 Brookdale said in July it would implement as part of its $2.8 billion acquisition of Emeritus.
About 50 former Emeritus employees will stay in Seattle, while 15 will be relocated to Brentwood or to the company's Milwaukee office.
Despite the Seattle cuts, Brookdale continually bolstered its corporate staff last year, announcing in May that 200 jobs would be added to the existing 400 in Milwaukee through 2016. The company also announced in June it would add 162 jobs over five years to the 375 employees it then had in Brentwood.
Shares of Brookdale (Ticker: BKD) were down 2 percent to $36.06 Monday afternoon. In the last three months, they're up 11 percent.
Local public health care companies Acadia Healthcare and Diversicare have new 5 percent owners, per recent Securities and Exchange Commission filings. First up, the investment arm of financial giant JPMorgan Chase says it has grown its stake in Acadia Healthcare by more than half over the past year. The company — which in early 2014 said it had sold off some of its holdings — now owns 5.7 percent of Franklin-based Acadia.
Also filing papers recently with regulators was San Francisco-based Osmium Partners, which focuses on small-cap value stocks. Its managers said last week they now own 5.1 percent of skilled nursing services provider Diversicare. Founded in 2002, Osmium manages about $130 million. Last month, a West Virginia company said it also has amassed a 5 percent Diversicare stake.
Bank of America Merrill Lynch analyst Denise Chai has relaunched her coverage of Dollar General with an 'underperform' rating and a price target of $60, which is more than 10 percent below where the shares (Ticker: DG) are trading today. Chai has some relatively harsh and skeptical words about Dollar General, saying it has not performed very well of late and could miss with its Q4 numbers.
Over at JMP Securities, Peter Martin has lowered his price target for shares of Brookdale Senior Living to $44 from $46 after executives at the Brentwood-based company trimmed their 2015 guidance following some operational and insurance hiccups in the fourth quarter. "The magnitude vs. our model (EBITDAR basis) was not great given our expectation of a tough first year transition, but the front-loading of maintenance capex to help transition performance issues did hurt our CFFO forecast," Martin wrote. Brookdale (Ticker: BKD) is changing hands this morning around $34.
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