Reports surfaced Wednesday in Florida that Solantic, the operator of urgent-care clinics founded a decade ago by former Columbia/HCA boss and current Florida Governor Rick Scott, will move its headquarters to the Nashville area. Just how many folks are making the move into which area building isn't yet clear, but a spokeswoman told the Jacksonville Daily Record the relo will be wrapped up before the year is out.
However, later reports and a statement from Scott's office said the HQ is not leaving North Florida. The Middle Tennessee presence will be "another corporate office," it was said.
Splitting hairs to appease the governor and co-founder, who sold his stake almost a year ago? Maybe. Either way, a key player in the new office and Solantic's expansion plans appears to be Mike Klein, the former Renal Advantage CEO who has led Solantic since May.
Corrections Corp. of America and its fellow prison managers will have to wait a little longer to get a shot at lucrative privatization contracts in Florida. After Gov. Rick Scott on Monday said he will not appeal a recent court ruling that state lawmakers' process for trying to privatize 29 prisons was unconstitutional, state Attorney General Pam Bond did file an appeal. If the plan's backers are denied in the courts, they'll have to start their process again but do so via a separate bill, and not by including it in the state's budget. CCA shares (Ticker: CXW) fell more than 2 percent Monday, in line with the big indices, and are down about 11 percent year to date.
HCA has been approved by officials in Oviedo, Fla., to rezone more than 23 acres that look set to become home to a free-standing emergency room and medical office space. The strategy would be similar to what the hospital titan is doing in Spring Hill and planning for the Hickory Hollow area.
A Florida judge has ruled that lawmakers' plan to privatize prisons via the state budget is unconstitutional. The move would have given Nashville-based Corrections Corp. of America and its main rival The GEO Group the chance to bid on 29 prisons in 18 counties in the southern part of the Sunshine State.
She said the DOC could have initiated privatization and presented a business case to the Legislature. But neither Gov. Rick Scott nor the DOC requested the massive privatization, which popped into the budget late in the session.
The DOC scheduled a bid opening on Tuesday for offers from companies interested in operating the prisons. Fulford enjoined the state from proceeding, but that edict will probably be stayed if the state appeals.
Shares of CCA (Ticker: CXW) are off about 2.4 percent this afternoon and have fallen about 9 percent this year.
The M&A attorneys for Vanguard Health Systems, Ardent Health Services, AmSurg, Community Health Systems and Brookdale Senior Living have been busy lately. Vanguard has completed its $210 million purchase of 51 percent of Texas hospital system Valley Baptist. Meanwhile, Ardent wrapped up its deal for two CHS hospitals in Oklahoma and AmSurg completed its acquisiton of Dallas-based National Surgical Care. Lastly, Brookdale put a bow on its acquisition of Horizon Bay Realty, whose assets are primarily in Texas and Florida. The last deal also involved negotiations for a Brookdale option to up to 20 percent of the U.S. portfolio of Chartwell Seniors Housing Real Estate Investment Trust.