LifePoint Health has finalized its merger with RCCH HealthCare Partners. The rural hospital operator has been purchased by affiliates of the private equity firm Apollo Global Management, which owns RCCH.
Tenet Healthcare Corp. CEO Ron Rittenmeyer described the company's hospital segment growth as "not acceptable," as its executives worked to convince analysts and investors that it will revive the segment.
LifePoint Health's board of directors is plowing ahead with a $120 million golden parachute plan for four top executives ahead of the company's sale, despite overwhelming opposition from shareholders.
HCA Healthcare grew its revenue more than 7% year over year during the third quarter of 2018, and the hospital chain marked its 18th consecutive month of same-facility admissions growth.
Community Health Systems' net operating revenue was down 6% year over year in the third quarter of 2018 as the company continues its hospital divestiture campaign, triggering a plunge in share value.
LifePoint Health reported weak volumes but met key financial metrics as it prepares for its merger with fellow Brentwood, Tenn.-based rural hospital operator RCCH HealthCare Partners.
Even as Universal Health Services added another $48 million to its reserve fund related to an ongoing Department of Justice investigation, the health system managed to grow its profit by nearly 22% in the third quarter.
Analysts predict HCA Healthcare will once again outshine its investor-owned hospital peers in the upcoming third-quarter earnings season.
Eight hospitals have evacuated patients in the wake of Hurricane Michael, although five of those remain open for emergency patients. HCA Healthcare and Universal Health Services are among those transferring patients out of damaged facilities.
Hurricane Michael is hitting Florida health systems at a time of year when lots of patients tend to schedule elective procedures, but Leerink Partners doesn't predict investor-owned hospital chains will feel much pain.
HCA Healthcare's announcement that its CEO, R. Milton Johnson, will retire at the end of the year didn't come as a surprise—the for-profit hospital chain has a history of regularly refreshing its top post.
HCA Healthcare CEO R. Milton Johnson will step down from leading the hospital chain at the end of 2018 and be replaced by current President and Chief Operating Officer Sam Hazen.