January 24, 2005 |
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.
May 4, 1994 |
Eastman Kodak Co. yesterday confirmed the rumors: Its pharmaceutical and health-products subsidiary, Sterling Winthrop Inc., is for sale. The announcement raises the possibility that the European operations of Sterling Winthrop, whose American research headquarters is in Montgomery County, could end up with the same French owners as the former Pennwalt Corp., now Elf Atochem North America Inc., in Center City. A German suitor for Sterling Winthrop also came into the picture.
November 22, 1994 |
The dance is over, and Channel 10 is going home with NBC. Come next fall, Philadelphia channel surfers will find Seinfeld, Blossom and the Today show on Channel 10 (WCAU). Murphy Brown, 60 Minutes and Dr. Quinn, Medicine Woman will be on Channel 3 (KYW). Jay Leno and David Letterman will play musical channels, too. As part of a wide-ranging agreement announced yesterday, NBC and CBS will swap the stations they own in Philadelphia, the country's fourth-largest TV market, and Denver, the 21st.
July 17, 2015 |
The chief operating officer of Philadelphia Energy Solutions Inc. resigned quietly in April, only 13 months after he was brought in to run the sprawling former Sunoco refinery in South Philadelphia, a filing with the U.S. Securities and Exchange Commission reveals. The company did not disclose in the filing this month the reason for David M. Ritter's termination as executive vice president. Ritter, in a telephone interview Wednesday, said he resigned for "personal reasons. " Chief executive officer Philip L. Rinaldi said Ritter departed on "friendly terms.
February 20, 2016 |
Inspira Health Network filed a state layoff notice affecting 105 home-care and hospice employees as it prepares for a joint venture with Bayada Home Health Care covering Cumerland, Gloucester, and Salem Counties. Inspira spokesman Greg Potter said Thursday that the Inspira employees would be interviewed for Bayada jobs, but "there may be some who don't fit into the joint venture. " Potter said that the tax-exempt Inspira, which is in the midst of planning a new hospital near Rowan University, would attempt to find jobs within the Inspira network for those not hired by Bayada.
November 5, 2015 |
An investment fund operated by New York's Square Mile Capital Management has originated a $26.8 million mortgage loan for the Penrose Plaza shopping center in Southwest Philadelphia, the company said in a release on Tuesday. Square Mile Capital Partners is funding the center's recent acquisition and planned capital expenditures by a joint venture of Onyx Properties, Abrams Realty & Development, and Siguler Guff. The 261,000-square-foot property at 2900-3000 Island Ave. is anchored by a ShopRite supermarket.
September 7, 2011
Consol Energy Inc. announced Wednesday that it is entering into a joint venture with Hess Corp. to explore and develop Consol's 200,000 acres of Utica Shale in Ohio for natural gas. Consol will receive consideration of $593 million. The deal is the second big shale-gas transaction that Consol has announced in recent weeks. In August, the Canonsburg, Pa., company - best known as a coal producer - announced a $3.4 billion joint venture with Noble Energy Inc. to develop about 663,500 acres of Marcellus Shale leases in Pennsylvania and Ohio.
August 15, 2008 |
Boscov's Department Stores L.L.C., which filed for bankruptcy protection last week, announced today that it will begin store-closing sales at 10 stores on Saturday. The closing locations include two Boscov's in the Philadelphia area - at the Oxford Valley Mall in Langhorne, and the Montgomery Mall in North Wales. The Reading-based chain is closing 10 of its 49 stores in a reorganization under a Chapter 11 bankruptcy. Other closing locations where sales will be conducted are in Baltimore, Glen Burnie, and Owings Mill, Md.; Eatontown, N.J.; Harrisburg, Monroeville and Pittsburgh in Pennsylvania; and Danville, Va. The sales will be operated by a joint venture of retail advisors Gordon Brothers Group L.L.C.
September 11, 2015 |
Doylestown Health Partners, a joint venture between Doylestown Hospital and about 440 primary care and specialist physicians, entered a contract to manage Humana's 3,200 Medicare Advantage customers in Bucks and Montgomery Counties. Humana, based in Louisville, Ky., agreed in July to be acquired by Aetna for $37 billion. In July, Humana had 8,246 Medicare Advantage customers in the eight-country Philadelphia region. Nationwide, Humana has 1.5 million Medicare Advantage customers, the company said.
January 22, 2016 |
Brandywine Realty Trust and Realen Properties Inc. are selling the 1000 Chesterbrook Boulevard office building, which they own as a joint venture, Douglas Rodio, a managing director at real estate services firm JLL, said Wednesday. The 172,327-square-foot, three-story building in Berwyn is 92 percent leased, with tenants including National Penn Bank and Wells Fargo, according to Rodio, a member of the JLL team marketing the property. Recent property sales by Brandywine include the IRS facility in the former 30th Street Main Post Office and the Laurel Corporate Center in South Jersey.