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Community Health Systems

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BUSINESS
May 26, 2004 | By Josh Goldstein INQUIRER STAFF WRITER
The proposed purchase of Phoenixville Hospital by Community Health Systems Inc. could substantially change the health-care landscape of one of the fastest-growing and most affluent parts of this region. With Phoenixville - and an associated outpatient surgery center in Limerick - the Brentwood, Tenn., for-profit hospital chain would gain a dominant position along the Route 422 corridor and across western Chester County. The purchase would complement the three other hospitals that Community Health has acquired in that area over the last three years.
BUSINESS
January 24, 2001 | By Susan Weidener, INQUIRER SUBURBAN STAFF
Brandywine Hospital in Chester County announced yesterday that it would be sold to a for-profit hospital chain based in Nashville. David Moser, chairman of the Brandywine board of directors, said Community Health Systems Inc. was able to provide the $30 million needed to enhance technology and expand services at the hospital, which posted $6 million in losses last year. "We just felt it was time to turn over the leadership to a new team that may have a little different - and hopefully more effective - way of managing the resources we have," Moser said.
BUSINESS
April 15, 2004 | By Josh Goldstein INQUIRER STAFF WRITER
The University of Pennsylvania Health System signed a letter of intent yesterday to sell Phoenixville Hospital in Chester County to the for-profit Community Health Systems Inc. Community Health already owns three nearby hospitals, and this deal would give the Brentwood, Tenn., company a dominant market position in Chester County and western Montgomery County - one of the fastest-growing and most affluent parts of the region. Under the proposed deal, Community Health "would own and operate the hospital," said David L. Cohen, chairman of the Penn Medicine board, which oversees the health system and medical school.
BUSINESS
January 24, 2005 | By Josh Goldstein INQUIRER STAFF WRITER
After having one potential buyer drop out several months ago, Chestnut Hill HealthCare has reached a deal to be acquired by a for-profit joint venture. Under the deal, the small, independent health system anchored by Chestnut Hill Hospital in northwestern Philadelphia would be bought by the joint venture formed by Community Health Systems Inc., of Brentwood, Tenn., and the University of Pennsylvania Health System for $25 million. The sale of Chestnut Hill, which must be approved by Philadelphia Orphans' Court and the Pennsylvania attorney general, is expected to be completed in March.
BUSINESS
September 10, 2016 | By Jane M. Von Bergen, STAFF WRITER
Nurses at Pottstown Memorial Medical Center voted 189 to 129 to join the Pennsylvania Association of Staff Nurses and Allied Professionals, the union said. Nurses at Delaware County Memorial Hospital, Hahnemann University Hospital, St. Christopher's Hospital for Children and Einstein Medical Center Philadelphia have voted to join PASNAP this year. Pottstown Memorial Medical Center, a 232-bed hospital, is owned by Community Health Systems, Inc., a for-profit chain based in Tennessee.
BUSINESS
April 19, 2011 | By Marley Seaman, Associated Press
NEW YORK - Hospital operator Community Health Systems Inc. on Monday revised its $3 billion offer for rival Tenet Healthcare Corp. to an all-cash bid. Community Health is now offering $6 per share in cash. In December, it had gone public with a bid of $5 per share in cash and $1 per share in stock. At the time, the offer was a premium of about 40 percent to the Dallas company's shares. But Tenet's board rejected that offer and adopted a "poison pill" measure to fend off the bid. In the region, Tenet owns Hahnemann Hospital and St. Christopher's Hospital for Children.
NEWS
August 22, 2014 | By Marie McCullough, Inquirer Staff Writer
Computer hackers traced to China stole personal data belonging to 4.5 million patients who used hospitals owned by Community Health Systems, which includes 20 hospitals in Pennsylvania and one in South Jersey. The stolen information included patient names, addresses, birth dates, and telephone and Social Security numbers, but not credit card or medical information, according to a report filed with the federal government by Community Health. "The company is providing appropriate notification to affected patients and regulatory agencies as required by law," the report said.
NEWS
April 14, 2004 | By Nancy Petersen INQUIRER STAFF WRITER
In a splashy ceremony at Brandywine Hospital last week, Gov. Rendell signed legislation that could bring trauma care back to Chester County - though at a lower level than the county had previously enjoyed. But whether that lower level will satisfy an organization that has sued the hospital's owner over the closing of the trauma center remains to be seen. When the Brandywine Hospital and Trauma Center was sold to Community Health Systems in June, 2001, the deal called for Chester County's only trauma center to stay open for at least three years.
NEWS
May 17, 2001 | By Nancy Petersen INQUIRER STAFF WRITER
The pending sale of Brandywine Hospital and Trauma Center to a for-profit chain based in Tennessee appears to be on the fast track following a hearing yesterday in Chester County Orphans Court. After hearing testimony from the primary parties involved, Judge Lawrence E. Wood said he would sign an order approving the sale to Community Health Systems Inc. of Brentwood, Tenn., as soon as he receives final documents from the hospital's lawyer. Yesterday, Wood heard from executives of the hospital and Community Health Systems, who explained why the sale was desirable and how the interests of patients and the community would be served.
NEWS
April 4, 2002 | By Will Van Sant INQUIRER SUBURBAN STAFF
To struggling Memorial Hospital of Salem County, economic salvation could come in the form of a multibillion-dollar conglomerate from Tennessee. And to that conglomerate - the for-profit national hospital chain of Community Health Systems Inc. - the tiny hospital in New Jersey's least-populated county would be the entry point into a state that has no for-profit general hospitals. At stake is far more than Salem's survival. The $35 million deal could change the state's health-care landscape, making the 140-bed facility New Jersey's sole for-profit acute-care hospital.
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ARTICLES BY DATE
BUSINESS
September 10, 2016 | By Jane M. Von Bergen, STAFF WRITER
Nurses at Pottstown Memorial Medical Center voted 189 to 129 to join the Pennsylvania Association of Staff Nurses and Allied Professionals, the union said. Nurses at Delaware County Memorial Hospital, Hahnemann University Hospital, St. Christopher's Hospital for Children and Einstein Medical Center Philadelphia have voted to join PASNAP this year. Pottstown Memorial Medical Center, a 232-bed hospital, is owned by Community Health Systems, Inc., a for-profit chain based in Tennessee.
BUSINESS
February 26, 2016 | By Harold Brubaker, STAFF WRITER
Aetna and Roxborough Memorial Hospital have reached a three-year deal that brought the hospital into the Aetna network for the first time since 2012, the insurance company said Wednesday. The contract was effective Feb. 1, Aetna said. Roxborough is a 137-bed hospital owned by Prime Healthcare Services Inc., a California for-profit that also owns Lower Bucks Hospital, a 150-bed facility in Bristol Township. An affilated foundation, Prime Healthcare Foundation recently completed its purchase of the former Mercy Suburban Hospital in East Norriton.
BUSINESS
August 25, 2015
Protocol Security Partners founder and CEO Dave Gentile will step down from day-to-day operations of the company. Gentile, who spent 24 years as an FBI agent in Philadelphia, will remain an unpaid consultant. He will become inspector general of the Delaware River Port Authority. The provider of security and investigative services in Blackwood, N.J., named Radek Lakomy the new CEO. Lakomy, a former member of both the Czech and Israeli special forces, served as a consultant in anti-terror roles for the Czech Republic and Israel's International Counter-Terror Institute.
NEWS
November 13, 2014 | By Melanie Burney, Inquirer Staff Writer
Memorial Hospital of Salem County made New Jersey history when a major for-profit health-care system bought the struggling facility. The law was changed to clear the way for the 2002 purchase of the nonprofit hospital for $34 million by Community Health Systems. Lawmakers were optimistic Memorial would expand into a thriving health network in the region. But now, a dozen years later, the excitement has apparently waned and lawmakers are painting a dismal outlook for the hospital.
NEWS
September 13, 2014 | By Marie McCullough, Inquirer Staff Writer
An unencrypted desktop computer containing personal information on 3,780 patients was stolen during a break-in at a Temple University physicians' office in late July, the university said in a statement Thursday. The computer, in the department of surgery, contained files with patient information that could be used for identity theft, including name, age, billing codes, and, in some cases, the name of the referring physician. The files did not contain Social Security numbers or financial data, according to the university.
NEWS
August 22, 2014 | By Marie McCullough, Inquirer Staff Writer
Computer hackers traced to China stole personal data belonging to 4.5 million patients who used hospitals owned by Community Health Systems, which includes 20 hospitals in Pennsylvania and one in South Jersey. The stolen information included patient names, addresses, birth dates, and telephone and Social Security numbers, but not credit card or medical information, according to a report filed with the federal government by Community Health. "The company is providing appropriate notification to affected patients and regulatory agencies as required by law," the report said.
BUSINESS
April 11, 2013 | By Steve Rothwell, Associated Press
NEW YORK - Technology stocks roared back Wednesday, driving the Standard & Poor's 500 and Dow Jones industrial average to record highs. The industry has lagged the broader market this year but surged after the network-communication company Adtran reported earnings that were double what Wall Street analysts expected. That boosted optimism that businesses will increase spending on technology equipment. The chipmakers Micron and Intel jumped, as did other network-equipment makers such as Cisco and JDS Uniphase.
BUSINESS
May 18, 2012 | By Harold Brubaker, INQUIRER STAFF WRITER
Profitability at hospitals in Philadelphia and its Pennsylvania suburbs improved slightly last year, but the revenue growth rate continued sliding, according to an annual report by the Pennsylvania Health Care Cost Containment Council to be released Thursday. The report, which is appearing as hospital interests are lobbying hard in Harrisburg to undo funding cuts proposed by Gov. Corbett in February, showed that the overall operating profit margin at 41 area for-profit and nonprofit hospitals edged up to 4.4 percent from 4.3 percent.
NEWS
November 21, 2011
Theodore J. Forstmann, 71, a longtime Wall Street financier who was a major player during the wave of corporate takeovers in the 1980s, including the battle for RJR Nabisco, died of brain cancer Sunday, said a statement from the sports agency IMG. Mr. Forstmann was chairman and chief executive officer of IMG and senior founding partner of the investment firm Forstmann Little & Co. Forstmann Little bought IMG in 2004. Forstmann Little, which was founded in 1978, completed leveraged buyouts of companies including Dr Pepper, Yankee Candle, General Instrument, and Community Health Systems.
NEWS
September 12, 2011 | ASSOCIATED PRESS
Shares of Tenet Healthcare Corp. sank Monday after the hospital operator said it expects 2011 earnings to be at the low end of its previously announced guidance, due in part to growth in Medicaid admissions, which offer relatively low reimbursement. THE SPARK: Tenet earlier said it expects adjusted earnings before interest, taxes, depreciation, and amortization to range between $1.17 billion and $1.27 billion. Tenet, which operates Hahnemann University Hospital and St. Christopher's Hospital for Children in Philadelphia, said Medicaid patient admissions made up 75 percent of its growth so far in the third quarter.
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