Community Health Systems is being taken to task by the National Labor Relations Board, which is consolidating several regional disputes into a single case that will be handled in Ohio. CHS executives are being accused of violating the rights of some of their employees by, among other things, not negotiating in good faith, retaliating against people taking part in union activities and making it hard for workers to discuss working conditions. In all, the Franklin-based company (Ticker: CYH) faces 29 charges related to seven of its hospitals in four states.
To avoid unnecessary delay and to conserve public and private resources, the General Counsel transferred all of these cases to Region 8, Cleveland, which issued the consolidated complaint. Absent settlement, the NLRB is scheduled to begin litigation in Cleveland on December 15, 2015.
View the NRLB's statement on the case here.
Community Health Systems executives said Friday morning they will sell the 72-bed Bartow Regional Medical Center in Central Florida to BayCare Health System, a regional network with more than 23,000 employees. The deal is expected to close by the end of 2015 and won't have a meaningful impact on CHS' finances. CHS also recently said it would sell its Lehigh Regional Medical Center. Once these deals are wrapped up, the Franklin-based company (Ticker: CYH) will own 24 hospitals in Florida.
Jefferies analyst Brian Tanquilut has taken his price target for shares of HCA Holdings from $112 all the way down to $88 after the hospital giant previewed its third-quarter profits and said its personnel costs had risen over the summer. Tanquilut also has trimmed his earnings estimates for this year and next. But he is sticking to his 'buy' rating and says HCA can continue to grow its business.
At about 12:30 p.m., HCA shares (Ticker: HCA) were off more than 6 percent to about $71.20. They're now down slightly year to date.
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