Windsor Health, the Atlanta-based health plan with a sizeable Nashville workforce, has named Jim Touse as its new general counsel. And though he'll be based in Atlanta, Touse has spent a good deal of time in Tennessee.
Mr. Touse most recently served as the General Counsel, Compliance Officer and Corporate Secretary of Life and Specialty Ventures, L.L.C. and its affiliates, which are owned by six independent Blue Cross and Blue Shield plans. He has previously served as the Chief Legal Officer of BlueCross BlueShield of Tennessee, General Counsel of Group Health Plan, and in legal leadership roles with other managed care organizations since beginning his career as the Assistant Director of the Ohio Department of Insurance.
Mr. Touse’s peers have recognized his contributions to the legal profession by electing him as a member of the inaugural class of the American Health Lawyers Association’s (AHLA) Fellows program. He has also served in legal leadership positions with AHLA; the Blue Cross and Blue Shield Association Legal Department Cooperative; American Association of Health Plans (now America’s Health Insurance Plans); and the Tennessee Bar Association Health Law Section. He has made numerous presentations and authored publications addressing significant legal and regulatory issues affecting the employee benefits industry.
Shares of Medicare Advantage plan provider HealthSpring are trading lower on very heavy volume Friday after the company announced a $262 million stock offering. The company's stock (Ticker: HS) is down about 4.5 percent on the day, near $36.28, on trading volume nearly four times greater than typical daily average.
Shares of HealthSpring had closed at $37.97 Thursday.
Two senior officers at Franklin-based insurer HealthSpring last week cashed in some of their chips by exercising stock options and selling on the resulting shares. General Counsel and Secretary Gentry Barden booked a $2.6 million profit on his sales, Executive VP Matthew Morris more than $1.7 million. Shares of HealthSpring (Ticker: HS) are up some 40 percent year to date and have more than doubled in the past 12 months.
The folks at New Jersey money manager Lord Abbett appear to have decided to cash in their HealthSpring chips. Since the end of 2010, they have trimmed their stake in the local Medicare Advantage insurer by almost 580,000 shares and now own 4.2 percent of the company, down from 5.8 percent last fall. HealthSpring's stock (Ticker: HS) is up almost 40 percent year to date and has more than doubled in the past year, lifting its market cap well north of $2 billion.
Analyst Josh Raskin at Barclays Capital has lifted his price target on shares of HealthSpring to $44 from $38 while keeping his 'overweight' rating. The move puts Raskin among the Street's most bullish HealthSpring watchers. It wasn't that long that he was saying that HealthSpring (Ticker: HS) could reach $30 despite a run that started at $18. Brookdale Senior Living shares are up more than 7 percent this morning after the company reported its Q4 numbers and said it has added to its debt capacity. Also helping is an upgrade from Morgan Keegan analyst Rob Mains, who sees the Brentwood-based nursing home chain's stock hitting $30, up from $24. Brookdale (Ticker: BKD) is now at its highest level since June 2008.