In preparation for its initial public offering, Spheris parent company CBaySystems Holdings on Friday filed an amended S-1 with the Securities and Exchange Commission. The new filing says the company plans to offer 3.5 million shares at $11 a pop, netting about $28.5 million. The company's current stockholders also will offer about 4.3 million shares. CBay, through a subsidiary company, acquired the assets of bankrupt Franklin medical transcription company Spheris last year. Since then, CBay has shifted its corporate headquarters to Franklin.
Jan 24, 2011 7:21 AM
Decisive Media gave Nissan North America the "Green Company of the Year Award" at its 15th Annual Urban Wheels awards because it offers "the only affordable, five-passenger, fully electric vehicle offered by a mainstream nameplate in the United States." We're talking about the LEAF, of course.
Jan 10, 2011 2:00 PM
In an attempt to deter a takeover by Community Health Systems, Tenet Healthcare has adopted a new stockholder-rights agreement with a "poison pill" provision and pushed its annual shareholder meeting to November. Under a board-approved plan announced Friday afternoon, Tenet says that if an "acquiring person" buys more than 4.9 percent of the company's outstanding shares, the company will distribute preferred stock purchase rights to other stockholders, potentially creating "significant dilution" of the acquiring person's holdings. Tenet said the move will help it protect its $2 billion in net operating loss carry-forwards — which can't be used for tax purposes if the company experiences a change in ownership. In addition, Dallas-based Tenet said it amended its bylaws so it can push its 2011 shareholder meeting to Nov. 3 — 18 months after its 2010 meeting and four months later its previous bylaws would have allowed. After Tenet rebuked CHS' unsolicited $7.3 billion acquisition offer, CHS had planned to nominate a slate of directors to Tenet's board. Franklin-based CHS responded to Tenet's actions with the following statement:
“Tenet shareholders should be deeply disappointed that their Board’s response to a compelling 40% premium offer is a double-barreled entrenchment strategy – facilitating a significant delay of their 2011 Annual Meeting and installing a poison pill. We are confident that Tenet shareholders will see these steps for what they are: the actions of a Board that is not working for them. Rather than resorting to delaying tactics, Tenet should engage with us in good-faith discussions to complete a mutually beneficial transaction.”SEE ALSO: Why CHS thinks the Tenet acquisition is 'the right story,' chatter about other potential Tenet suitors and more from our ongoing blog coverage.
Jan 10, 2011 7:01 AM
The Mayor of Franklin is going to head up TDOT:
Tennessee Governor-elect Bill Haslam today announced Franklin Mayor John Schroer as Commissioner of the Tennessee Department of Transportation. Schroer was sworn in as Franklin Mayor in 2007, and is a member of the Middle Tennessee Metropolitan Planning Organization and the Regional Transit Authority. Schroer spent a decade working in commercial real estate finance before starting his own development business. Prior to his election, he served on the Franklin Special School Board for 13 years, and he also has served on the board of the Tennessee School Board Association. “As a mayor, John Schroer has knowledge of transportation issues at the ground level, and he’s shown himself to be someone who gets results,” Haslam said. “I’m grateful that he’s joining our team, and I believe Tennessee’s transportation system will be in good hands.” The Transportation Department (TDOT) handles multiple transportation responsibilities including highways, aviation, public transit, waterways and railroads. Schroer has a bachelor’s degree in business from Indiana University and an MBA from the University of Tennessee. He served previously on the Williamson County United Way board and was a founding board member of Franklin Tomorrow. “I’m excited to be joining the outstanding team Gov.-elect Haslam has put together, and I’m honored and humbled by the choice,” Schroer said. “I’ve worked with TDOT previously, and I’m looking forward to begin working with the great staff at the department.” Schroer, 59, is married to Marianne, and they have three grown children. They are members of Franklin First United Methodist Church.
Jan 4, 2011 2:21 PM
According to a recent poll of 400 Williamson County residents, most are unaware that a county commissioner recently floated the idea of selling the profitable Williamson Medical Center to eliminate the county's debt. They do, however, have an opinion about what type of buyer they'd like to see in a hypothetical sale situation. The poll was conducted in December by a Tennessee-based survey company in conjunction with a local healthcare company. Results were supplied to NashvillePost.com on condition of anonymity. Here are some of the findings:
- 63 percent of respondents are unaware of recent talk about a potential WMC sale. Only 2 percent were "very familiar" with the recent talk and publicity.
- When asked about the potential benefits of the sale of WMC, respondents were either neutral or unsure of the benefit of WMC becoming a tax paying organization. There was stronger positive sentiment about the possibility that WMC debt would no longer be an obligation to the county.
- When asked what kind of partners would be acceptable for WMC, 64 percent said an academic system would be acceptable, 55 percent said a faith-based organization would be acceptable, and 43 percent said a national hospital company would be acceptable.
- 44 percent said an academic medical center would be their first choice for a partner. 25 percent chose a faith-based system, and 13 percent picked a national hospital company.
- Most people, 55 percent, said they'd need more information before deciding if they'd support or oppose the hospital's sale.
Dec 27, 2010 12:05 PM
Franklin-based data analytics firm Digital Reasoning is reaching out to new markets with the release of version 3.0 of its flagship software system, Synthesys. The tool allows users to cull useful information from large amounts of unstructured data. So instead of using manpower to read mountains of documents, Synthesys does the “reading” and finds the connections between people, places and things and automatically reports them, estimating the strength between those connections. The government is the 10-year-old company’s top client, with various agencies Digital Reasoning’s tools for security intelligence and other purposes. But the 25-employee company wants to reach into additional vertical markets that deal with lots of unstructured data, and the capabilities and new scalability of the system may help it attract customers the legal, financial and other fields. Company CEO and Founder Tim Estes said the new system version is “the culmination of a decade of solving large scale data analytics problems for the intelligence community. With this release, we are bringing to market the unprecedented understanding of unstructured data in cloud-scale architectures with our integration of Hadoop and Cassandra.” Synthesys v3.0 officially launches today.
Dec 6, 2010 7:04 AM
POSTDATA: WARRANTY DEEDS