Capella Healthcare announced Thursday seven promotions, including Angie Mulder to vice president, corporate compliance officer and Andretta Reed to vice president, HIM operations and coding. Mulder is a former senior director of ethics and compliance at LifePoint Hospitals, while Reed joined Franklin-based Capella in 2012 as director of coding and revenue integrity.
The company also announced the following promotions:
•Brent Jean, assistant vice president of reimbursement
•Scott Fleischer, director of financial IT applications
•Barb Hojer, director of human resources
•Kevin Townes, director of technical services
•Amanda Herbert, senior analyst of patient portals
"We are pleased to announce promotions for these high-performing members of our corporate resource team," Michael Wiechart, Capella CEO, said in a release. "Capella has a talented and experienced team of colleagues that are dedicated to serving our hospitals. Health care is complex industry and it is vital that hospitals have access to strong leadership resources. Or corporate resource team is a vital part of our hospitals' success."
HCA Holdings on Friday paid $294 million to buy back a big block of its shares from Bain Capital, one of the firms that took the hospital giant private back in 2006 and then public again less than five years later. The purchase is the third such deal in a year — HCA paid $750 million in May and $558 million in December to cut Bain's stake to less than 3 percent — and helps completely cash out the firm.
The Securities and Exchange Commission filing from HCA also details that the company has been very active on the buyback front since announcing a $1 billion plan in early February: The Bain purchase brings to no less than $745 million the company's outlays over the past 11 weeks. Over that time, HCA shares (Ticker: HCA) are up 12 percent.
HCA Holdings COO Sam Hazen has taken advantage of the record run in the hospital giant's shares — they're up 60 percent in the past year (Ticker: HCA) — via his option holdings for the second time in four months. Last Wednesday, a stock trading plan set up by Hazen last summer exercised 180,000 options for $5.31 each and then sold the same number of shares at $80 apiece. His gain on those transactions topped $13.4 million. Hazen's plan — which late last year also generated almost $11 million in profits — also paid a little more than $2 million to exercise another 180,000 options before forfaiting about half of those to cover its expenses. The moves leave Hazen, who was named to his current position in January, with almost $10 million in direct holdings.
RBC Capital analyst Frank Morgan has reiterated his 'buy' rating for HCA Holdings.
Morgan also raised his price target for the Nashville company to $88. Last fall, his price target for HCA Holdings, which Wednesday previewed better than expected Q1 earnings, was $83.
Shares of HCA (Ticker: HCA) were down nearly 2 percent Thursday afternoon to $77.78. Year to date, they're up almost 6 percent.
Community Health Systems is in talks to buy a struggling Georgia hospital, according to The Ledger-Enquirer.
The Franklin company could fully or partially acquire the 376-bed hospital, which recently completed a $150 million expansion and disclosed an accounting error of nearly $30 million. The Ledger-Enquirer reports the Columbus hospital then began looking for a strategic partner.
St. Francis Hospital said Thursday it has begun 'exclusive discussions' with a subsidiary of Franklin, Tenn.-based Community Health Systems, with an agreement of some sort between the two expected in the 'near future.'
CHS currently operates five hospitals in Georgia. Shares of the company (Ticker: CYH) were down to $52.81 around noon Friday. Year to date, they're down 2 percent.
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