State picks HealthSouth hospital, denies competing project

$23M facility to rise near Williamson Medical Center
Mar 23, 2011 2:50 PM

Layoffs at local Smith & Wesson unit

More than 10% cut as security barrier maker's clients pull back
Mar 22, 2011 2:27 PM

Iasis buying Houston hospital

Local investors will keep a 21.8 percent stake
Mar 18, 2011 6:14 PM

Galleria, RiverGate rebounding from recession

Double-digit gains in Madison; Hickory Hollow trails
Mar 18, 2011 10:40 AM

Tracking Healthways' shrinking employee base

A few months ago, Franklin-based wellness and disease management company Healthways announced a company-wide restructuring that ultimately ended up costing the company more than $10 million. The company wouldn't say just how many workers were affected by the cuts, which included the loss of some international and local positions.

Browsing through Healthways' recent annual reports, however, can give readers a general sense of what's been happening with the employee ranks of Healthways over the last few years.

As of March 1, the company had 2,800 workers. On March 8, 2010, that number was 3,000. On Oct. 15, 2008, it was 3,500 people. In October of 2007 it was 3,800. (Search "employees" in each filing.)

That's a 26 percent decline in employee count in the last three and a half years.

Mar 17, 2011 12:16 PM

Clarcor hikes '11 guidance

Q4 numbers boosted by new products, overseas sales
Mar 17, 2011 11:09 AM

Appeals judges affirm Healthways suit dismissal

Investor had alleged fiduciary breaches related to 2008 earnings warning
Mar 17, 2011 8:15 AM

Inspiris acquired by UnitedHealth Group

Brentwood firm now part of $5.8B business segment
Mar 16, 2011 2:09 PM

Patent Patrol: 16 March 2011

In this week's batch of IP awarded to Tennessee residents and companies: A retirement income protection plan from Deloitte, nucleic acid screens, hazmat methods, and more...
Mar 16, 2011 12:16 PM

Spheris props up MedQuist Q4 results

MedQuist Holdings’ acquisition of Franklin-based Spheris last year helped the company post a 29 percent increase in revenue in the fourth quarter. The medical transcription company — which now calls Franklin home — said Spheris contributed $29.9 million in revenue during the fourth quarter, while its total revenues were up just $24.7 million, to $110.5 million.

The company (Ticker: MEDH) accounted for the revenue trend by explaining that it’s been lowering prices for customers and shifting production and speech recognition offshore to ensure “higher customer retention and margins.”

Adjusted net income was $14.4 million, or 28 cents per diluted share, compared to $11.9 million, or 23 cents per diluted share in the year-ago quarter. Income attributable to shareholders in Q4 was $1.4 million, or 4 cents per diluted share, compared to $275,000, or a penny per diluted share.

Robert Aquilina, Chairman of MedQuist Holdings, said, “Through our industry leading platform, we are giving our customers the features, customer service capabilities, and cost savings they desire. Our higher volumes have enabled us to leverage the scale of our platform while also realizing the benefits of offshore resources and post speech recognition editing. The acquisition and turnaround of two companies in the last two years speaks to the success of our strategy with a five-fold increase in Adjusted EBITDA during that period and, most recently, the $7 million of synergies gained in the fourth quarter, or $28 million annualized, from the integration of Spheris. We will look to continue this performance in 2011 as well as organic growth derived from a relentless focus on new business.”

Mar 16, 2011 8:12 AM