Navigation Links
Miami Hospital Market Sees Shift in Ownership of Two Area Facilities
Date:4/9/2008

For-Profit HCA and Tenet Healthcare Each Sell Financially Challenged

Facilities to Local Market Players, According to New Report from

HealthLeaders-InterStudy

NASHVILLE, Tenn., April 9, 2008 /PRNewswire/ -- HealthLeaders-InterStudy, a leading provider of healthcare market intelligence, reports that changes in hospital ownership continue to influence the Miami-area market as for-profit HCA Inc. and Tenet Healthcare Corp. each sell or prepare to sell resource-draining facilities. According to the newly released Miami Market Overview report, by disposing of underperforming hospitals -- Cedars and North Ridge medical centers -- HCA and Tenet are positioning themselves to devote resources to more promising projects.

"The ownership shift creates new opportunities for the purchasers -- the University of Miami and Holy Cross Hospital," states Margaret Dick, HealthLeaders-InterStudy senior market analyst and author of the report. "Both are poised to expand their influence in the marketplace."

With the sale of Cedars Medical Center, local HCA operations are now more focused on Broward County where the hospital system has four of its six remaining hospitals. Cedars Medical Center, which was the largest local HCA hospital, was sold in December 2007 to the University of Miami (UM) for an estimated $260 million. This facility provides UM's medical school with a long-desired hospital of its own.

Meanwhile, pending regulatory approval, Holy Cross Hospital signed a deal in February 2007 to purchase Tenet's North Ridge Medical Center. Holy Cross Hospital, which is located within a few miles of North Ridge, has not announced its plans for the medical center but industry observers expect inpatient services to be consolidated at Holy Cross and for North Ridge to become an outpatient facility.

HCA and Tenet have each nailed down national multiyear agreements with health plans such as Aetna, UnitedHealthcare and Humana to improve reimbursements and volume guarantees for their facilities.

About Market Overviews

Market Overviews provide a detailed analysis of local healthcare markets, allowing healthcare businesses to plan their local strategies.

About HealthLeaders-InterStudy

HealthLeaders-InterStudy is the authoritative source for managed care data, analysis, and news. For more information, please visit http://www.HealthLeaders-InterStudy.com.

All company, brand, or product names contained in this document may be trademarks or registered trademarks of their respective holders.

For more information, contact:

Elizabeth Marshall

Decision Resources

781-296-2563

emarshall@dresources.com


'/>"/>
SOURCE HealthLeaders-InterStudy
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. Miami Jury Convicts Medical Company Owner of Medicare Fraud
2. Cogon Systems Supports the South Florida Health Information Initiatives 2nd Annual Health Information Exchange Summit - November 8th in Miami, FL
3. "High School Musicals" Corbin Bleu Joins Colgate-Palmolive, United Way and Miami-Dade Elementary School Students for Dental Health Challenge
4. Four Miami Health Care Company Owners Sentenced to 57 Months in Prison For Medicare Fraud
5. Nine Miami Defendants in Strike Force Cases Sentenced for $56.5 Million in Medicare Fraud
6. CyberKnife Centers of Miami, Palm Beach and Tampa Invited to Join M.D. Anderson Cancer Center Study
7. Miami Jury Convicts Physician and Three Business Owners of Medicare Fraud
8. Gentiva(R) Health Services to Present March 18th at Lehman Brothers Eleventh Annual Global Healthcare Conference in Miami
9. CRH Medical Corporation opens new Center in Miami, Florida
10. AT&T Announces Grant to Center on Aging-University of Miami Miller School of Medicine
11. Seven Miami-Area Residents Charged in $11 Million Medicare Fraud Scheme
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:10/13/2017)... Little Rock, AR (PRWEB) , ... October 13, ... ... owned firm with locations throughout Arkansas that offers insurance and financial preparation services, ... to benefit the Rock City Rescue organization. , Rock City Rescue is a ...
(Date:10/13/2017)... ... October 13, 2017 , ... The International Association ... standards of excellence for the field of eating disorders, announces the opening of ... 2018 in Orlando, Florida at the Omni Resort at ChampionsGate. , ...
(Date:10/13/2017)... ... October 13, 2017 , ... Apple Rehab Shelton Lakes , which specializes ... of the facility as part of a disaster drill on October 3rd. , Apple ... Shelton City Emergency Manager, as well as the Connecticut Long Term Care Mutual ...
(Date:10/13/2017)... ... October 13, 2017 , ... Global Healthcare Management’s 4th Annual Kids Fun Run ... This free event, sponsored by Global Healthcare Management’s CEO, Jon Letko, is aimed ... geared towards children of all ages; it is a non-competitive, non-timed event, which is ...
(Date:10/13/2017)... ... 13, 2017 , ... “The Journey: From the Mountains to the Mission Field”: ... souls in the Philippines. “The Journey: From the Mountains to the Mission Field” is ... Bible. She has taught all ages and currently teaches a class of ladies at ...
Breaking Medicine News(10 mins):
(Date:9/28/2017)... Sept. 28, 2017 Cohen Veterans Bioscience and ... use of wearable and home sensors for real-time monitoring ... Signal Foundation, a nonprofit organization focused on disruptive health ... an affordable analytical system to record and integrate behavioral, ... ...
(Date:9/25/2017)... , Sept. 25, 2017   Montrium ... Master File solutions, today—from the IQPC Trial Master ... , NL)—announced that EastHORN Clinical Services has ... clinical programs and TMF management. EastHORN, a leading ... eTMF platform to increase transparency to enable greater ...
(Date:9/22/2017)... Md. , Sept. 22, 2017  As the ... Republican Senators Bill Cassidy (R-LA) and ... Information notes that the medical device industry is in ... medical device tax, the 2.3% excise tax on medical ... But they also want covered patients, increased visits and ...
Breaking Medicine Technology: