ServiceSource expands into Nashville, Airport North scores again Jan 19, 2008
Panelists at the Partnership 2010 conceded that concerns about public schools were planting new Middle Tennesseans in the surrounding counties to live, but the head of HCA Inc. says Nashville itself is a strong draw. "[Nashville] is a beautiful community to live in," Jack Bovender, HCA chairman and chief executive officer, told the Business Journal. (Nashville Business Journal, TN)
Tetragon Financial Group Limited (TFG): Monthly Update For December 2007 Jan 16, 2008
LONDON, January 16 /PRNewswire-FirstCall/ -- Tetragon Financial Group Limited (TFG) is a Guernsey closed-ended investment company traded on Euronext Amsterdam by NYSE Euronext under the ticker symbol "TFG." TFG has amended its ongoing investor reporting program to provide investors with information in a streamlined manner, consistent with current market practice and in accordance with applicable Dutch regulatory requirements. TFG will also continue to provide quarterly updates in the form of... (PR Newswire)
Tetragon Financial Group Limited Performance Report for November 2007 Dec 18, 2007
LONDON, December 18 /PRNewswire-FirstCall/ -- Tetragon Financial Group Limited (TFG) is a Guernsey closed-ended investment company traded on the Euronext Amsterdam Exchange under the ticker symbol "TFG." In this performance report, unless otherwise stated, we report on the consolidated business incorporating TFG, Tetragon Financial Group LP and Tetragon Financial Group Master Fund Limited. (1) References to "we" are to Polygon Credit Management LP, TFG's investment manager. (PR Newswire)
St. Vincent's closer to building Clay County hospital Dec 10, 2007
Officials from AHCA and Orange Park Medical owners HCA Inc. were unavailable for comment. St. Vincent's and Baptist filed an appeal to the initial awarding of the certificate of need to Orange Park in February 2006. (Jacksonville Business Journal, FL)
Ex-U.S. Senate majority leader joins local equity firm Nov 28, 2007
Frist's father founded hospital company HCA Inc., which was sold to private-equity firms Bain Capital, Kohlberg Kravis Roberts nd Merrill Lynch Global Private Equity. Frist is one of several U.S. politicians to join the private equity ranks. (Crain's Chicago Business)
Toggle Bonds Lose Toxic Shock as Aversion to Subprime Contagion Subsides Nov 8, 2007
Nashville, Tennessee-based payment processor iPayment Inc. was the only other borrower to issue the securities until November 2006, when LBO financings by HCA Inc. and Freescale Semiconductor Inc. pushed sales to $3. 65 billion for the month. (Bloomberg)
Palms West Hospital CEO quits amid flaps Sep 26, 2007
Palms West, one of three HCA Inc. hospitals in Palm Beach County, had little to say Tuesday about Lavater's sudden departure. "Mr. Lavater will pursue other opportunities within HCA and came to this decision after careful consideration and in the best interest of Palms West Hospital," said a statement the hospital released. (The Palm Beach Post)
HCA Appoints Michael G. Joseph President of East Florida Division Aug 16, 2007
All references to "HCA" as used throughout this document refer to HCA Inc. and its affiliates. SOURCE HCA. (PR Newswire)
Are our bridges safe? Aug 6, 2007
Officials at HCA Inc., the nation s largest for-profit hospital chain, were patting themselves. Remember 2004 and 2005, when the housing market represented all that was good and true in American. (The Palm Beach Post)
HCA profit down on higher interest costs from going private Aug 3, 2007
Hospital operator HCA Inc. said Thursday its revenues climbed 5. 8 percent to $6. (San Diego Union-Tribune -- Business)
HCA sells 2 hospitals in Switzerland to real-estate investor Colony Capital Jul 21, 2007
HCA Inc. announced Friday it is selling both its hospitals in Switzerland. HCA, based in Nashville, said it is selling Clinique de Carouge and Hospital de la Tour, both in Geneva, for an undisclosed amount to Los Angeles-based international real estate firm Colony Capital LLC.. (San Diego Union-Tribune -- Business)
Saying No to an LBO Jul 14, 2007
Last year, as a result of litigation, hospital giant HCA Inc. agreed to cut the termination fee it would pay buyers, from $500 million to $220 million, in the event the deal fell through. Shareholders then approved the buyout. (MSNBC -- Business)
KKR's Asset Bloat, Builders' Value, Greenlight Caution: Timshel Jul 6, 2007
KKR was part of a buyout group that beat the record by buying the HCA Inc. hospital chain for $33 billion. Blackstone has since bought Equity Office Properties Trust for $39 billion and KKR and TPG Inc. have joined forces to bid $45 billion for TXU Corp., the biggest power producer in Texas. (Bloomberg -- Columnists)
Carlyle to buy Manor Care for $4.9 billion Jul 3, 2007
Private equity activity in the health-care sector has accelerated since last year's leveraged buyout of hospital chain HCA Inc. Nursing home chain Genesis HealthCare Corp. agreed to be purchased by private equity buyers in January, and Beverly Enterprises went private in 2005. The steady cash flows nursing home operators produce is a big attraction for private equity firms that need the cash to pay down borrowed debt. (San Diego Union-Tribune -- Business)
Nursing-home chain agrees to $4.9B buyout offer from Carlyle Group Jul 3, 2007
-based HCA Inc., went private last fall in a $21. 3 billion leveraged buyout. (San Diego Union-Tribune -- Business)
St. Lucie goes with voters, rejects 'trauma tax' Jun 28, 2007
Opponents used Lawnwood's for-profit status - it is owned by HCA Inc. - in their campaign, saying the hospital should use its $14'million profit instead of seeking tax money. Lawnwood officials said the hospital uses its profits for new equipment and other improvements. (The Palm Beach Post)
ConnectivHealth Acquires Relegent Jun 26, 2007
Fox/News Corp. later became co-owner of Galaxy and AHN. Earlier in his career, he served as Director of Interactive Marketing at HCA Inc., where he implemented one of the Internet's first major health portals. For more information, contact: Michelle Ponte, Communications Director ConnectivHealth 615-345-9467. (PR Newswire)
SEC Investigating Possible Insider Trading in Credit Default-Swap Market Jun 23, 2007
Prices for contracts linked to Las Vegas-based Harrah's Entertainment Inc. and Nashville, Tennessee-based HCA Inc. rose last year ahead of announcements or news reports that those companies were takeover targets. In March, prices for swaps based on First Data Corp.'s bonds climbed 62 percent in the two weeks before Kohlberg Kravis Roberts & Co. bid for the company on April 2. (Bloomberg)
Check our guides Jun 19, 2007
HCA Inc. s two St. Lucie County hospitals and Martin Memorial Medical Center in Stuart. South Florida Help. (The Palm Beach Post)
Employers use auto-enrollment Jun 18, 2007
"The hospital's owner, Nashville-based HCA Inc., started automatically enrolling all new hires more than a year ago.About 58 percent of companies no longer have pension plans open to new hires, according to Hewitt Associates. Bridgestone got rid of its traditional pension plan in 2003."Those plans are really going out of existence," said Ronny Greer of public accounting firm Work in Nashville. "They've become too expensive, and they're being replaced with these savings plans like a 401(k) where... (Florida Today)
PSL's Tradition getting new hospital Jun 16, 2007
HCA Inc., the nation's largest for-profit hospital system and operator of the two existing St. Lucie County hospitals, is expected to challenge the decision by appealing to an administrative law judge. Appeals over new hospitals can take years to resolve in the state system. (The Palm Beach Post)
Canadian billionaire buying Predators May 26, 2007
Nicknamed Music City USA for the country and Christian music industries, the area features headquarters for Nissan North America Inc., Dollar General Corp. and HCA Inc. Pharmacy benefits manager Caremark Rx Inc., recently bought by CVS Corp., has offices here. CBRL Group, which owns the Cracker Barrel restaurant chain, is headquartered nearby. (Newsday -- Sports)
Anesthesiologist at JFK alleges retribution for reporting sponge left in patient May 17, 2007
The lawsuit, filed Tuesday in Palm Beach County Circuit Court, also names as defendants Dorman, a prominent cardiac surgeon; JFK parent company HCA Inc.; the hospital's chief executive, Gina Melby; and Dr. Gilbert Drozdow, a senior vice president at Sheridan Healthcare, which provides anesthesiologists to various hospitals including JFK.. Florida's Agency for Health Care Administration confirmed Sitarik's allegations about the sponge being left in the patient and issued citations for failing to... (Sun-Sentinel.com)
Exclusive FinancialWeek Analysis Reveals Significantly Greater Insider Trading Potential in Days Before Big Private Equity Buyouts are Announced Than Same Period Before Big Corporate Mergers and Acquisitions are Made Public. May 14, 2007
"If you have contact with one person, you've got leakage potential." Keeping things quiet when assembling a deal like the $45 billion buyout of energy company TXU Corp. or the $33 billion deal for hospital operator HCA Inc. is no small task. Also complicating matters: They're often done as what are called "club deals," in which multiple private equity shops are involved, each with their own advisers and sources of financing. (PR Newswire)
Kravis, Goldman, Lee Stymied as Investors Jettison Loose Loan Covenants May 10, 2007
In February Nashville, Tennessee-based hospital operator HCA Inc. was able to refinance $12. 8 billion of loans used to finance its $33 billion purchase by a group of firms including KKR. HCA persuaded lenders to cut the rates by as much as half a percentage point to 2. (Bloomberg)
Ethanol's Fall, Alcoa Options, PBL's Valuation: David Wilson May 9, 2007
First Data Corp., HCA Inc., Sallie Mae and TXU Corp. are among companies where well-timed option bets took place. Canadian and U.S. trading in Alcan options, by contrast, was nothing unusual. (Bloomberg -- Columnists)
Options surge preceded top deals May 8, 2007
The acquisitions of Dallas-based electric utility TXU Corp.; HCA Inc., the biggest U.S. hospital operator; First Data Corp., the world's largest processor of credit-card payments; and student loan company Sallie Mae were all preceded by a surge in seemingly well-timed options bets, according to the data. The record $188 billion of leveraged buyouts announced in the first quarter is fueling U.S. investigations of insider trading. (Sunspot.net -- Business)
MGM shy of expected results May 4, 2007
HCA Inc. said its earnings fell 54 percent in the first quarter because of higher interest expenses related to the $21. 3 billion deal that took the nation's biggest for-profit hospital chain private last year. (San Diego Union-Tribune -- Business)
Frist Won't Face Insider Trading Charges Apr 29, 2007
In a statement, Frist said he had "acted properly" and that his only reason for selling HCA Inc. stock in his trust accounts was to "eliminate the appearance of a conflict of interest.". Frist spokesman Matt Lehigh said the doctor would not comment beyond the statement. (CBS News)
Goldman's Blankfein Mimics Schwarzman as LBO Growth Beats Securities Gains Apr 17, 2007
5 billion in the acquisition of U.S. hospital chain HCA Inc.. Risk Machine. (Bloomberg)
Showdown over Spring Hill hospital set Apr 9, 2007
An appeals hearing regarding HCA Inc. TriStar Health System s proposal to build a 56-bed hospital in Spring Hill will begin Wednesday. Maury Regional Hospital officials are asking an administrative law judge to overturn an earlier 7-1 decision by the Tennessee Health Services and Development Agency allowing HCA to build the 104-million facility. (Columbia Daily Herald, TN)
First Data Agrees to $29 Billion LBO Deal Apr 3, 2007
The $29 billion price tag puts the deal only behind Equity Office Properties and HCA Inc. in terms of largest LBO deals. "We believe that current market conditions present an exceptional opportunity to fulfill our commitment to maximize the value of First Data by delivering an immediate cash premium to our shareholders," said Ric Duques, chairman and chief executive. (SmartMoney)
Bankers Mull $100 Billion Buyout as Quarter Ushers In Probable Record Fees Apr 3, 2007
RJR Nabisco was the biggest LBO until last year when KKR led the purchase of Nashville, Tennessee-based HCA Inc., the biggest U.S. hospital chain. When KKR agreed to buy HCA, the debt-financing cost was about 8. (Bloomberg)
Spring Hill Hospital hearing planned Apr 2, 2007
A special judge will hear a motion by Maury Regional Hospital and Williamson Medical Center this week requesting he overturn HCA Inc. s certificate of need to build a 56-bed hospital in Spring Hill. Reid Brogden, general counsel for the Tennessee Health Services and Development Agency, said the motion for summary judgment is a routine legal maneuver that asks the judge to rule in the petitioners favor before a lawsuit goes to trial. (Columbia Daily Herald, TN)
Upgrades at Saint Francis after merger Mar 29, 2007
Saint Francis was owned by Nashville, Tenn-based HCA Inc. from 1995 until last June. Wednesday marked the first time Saint Francis board of directors has held a meeting open to the public. (Charleston Gazette, WV -- News)
St. Lucie trauma center plan blasted Mar 24, 2007
Last year, the state rejected a bid by Martin Memorial to build a hospital in St. Lucie County after HCA Inc., the company that owns Lawnwood, objected. Harman said his hospital's objection to the trauma center had nothing to do with that dispute. (The Palm Beach Post)
New Suitor Sweeps in for Triad Mar 20, 2007
Monday's dramatic twist means that Triad apparently won't follow industry leader HCA Inc. into private hands. HCA was sold to private buyers for $21. (ABC News -- Wire)
Triad Hospitals gets higher offer Mar 20, 2007
While profits of other hospital chains such as Tenet Healthcare Corp. and HCA Inc. have been hurt by an increase in unpaid patient bills, Community has made money every quarter since 2000 and is a top performer, said Robert Hawkins, an analyst at Stifel Nicolaus in Baltimore. Community offered $54 per share, or 7. (Orlando Sentinel -- Business)
Community Health to Acquire Triad Mar 20, 2007
Tuesday March 20, 2007 7:06 AM ETU.S. Markets are Closed. Sign up now for FREESmartMoney. (SmartMoney)
Buyout plans face hurdles Mar 18, 2007
Companies that were recently bought out by management and private investors include Aramark Corp., the largest U.S.-based food-service company, and HCA Inc., the nation's biggest hospital chain. "In many such situations, the company will be more valuable in the hands of current management because they know the company - it gives them an advantage in determining the value to offer for it," said Ross Albert, a partner at Morris, Manning & Martin in Atlanta, and a former senior special counsel for... (SunSpot.net)
Prince Stumbles in Equity Underwriting as Goldman Sachs Gains in Fee Race Mar 1, 2007
After Bain Capital LLC, KKR and other investors acquired Nashville, Tennessee-based hospital owner HCA Inc. in a then record $33 billion LBO in November, Blackstone topped that deal with a $39 billion acquisition of Chicago-based Equity Office Properties Trust, the country's biggest office land-lord. Now, investors led by KKR and Teas Pacific Group have topped that deal with a $45 billion LBO of TXU Corp.. (Bloomberg)
Buyout Scorecard -- From TXU to Shooting the Moon: David Pauly Feb 28, 2007
The deal was ballyhooed as the largest such buyout ever, exceeding the $33 billion 2006 purchase of hospital chain HCA Inc. -- a deal in which Schwarzman's New York rival Henry Kravis of Kohlberg Kravis Roberts & Co. played a big role. Now Kravis may be elbowing his way back into the No. 1 spot. (Bloomberg -- Columnists)
* TXU subject of the biggest leveraged buy-out: sources Feb 27, 2007
Kravis and Roberts, both 63, upended the buyout world in 1989 with their US$31 billion purchase of food and tobacco-maker RJR Nabisco Inc. It was the largest LBO ever and remained so until November, when KKR joined in the US$33 billion buyout of hospital chain HCA Inc. That deal was topped this month by Blackstone Group's takeover of Equity Office Properties Trust, the biggest US owner of office buildings, for US$39 billion. "The general availability of money is driving all of these transactions... (Taipei Times, Taiwan -- World)
Private equity party fuelled by cheap debt Feb 27, 2007
The TXU and Equity Office deals follow on the heels of a $33-billion buyout, including debt, of health care company HCA Inc. last summer. The question for investors, as much for public companies that are in the crosshairs of cash-rich private equity hunters, is how long can the party last. (Globe and Mail -- Business)
Score this one for KKR's Kravis Feb 27, 2007
6-billion, KKR and an investor group stole the spotlight with an offer to buy hospital chain HCA Inc. for $21-billion. In addition, as firms like Blackstone were doing bigger deals last year, KKR came out of nowhere and announced the firm was launching a publicly traded fund. (Globe and Mail)
For TXU, One of the Street’s Fabled Barbarians Is Back in the Hunt Feb 26, 2007
Just last year, Kohlberg Kravis Roberts & Company was involved in a $33 billion takeover for the health care provider HCA Inc., that was the largest ever until the Equity Office deal. Last year, K.K.R. distributed $837 million in fees to investment banks, an amount that surpassed all other buyout firms. (Shoals TimesDaily)
* Kohlberg Kravis set to acquire TXU in a record buyout Feb 25, 2007
Taipei Times - archives. Kohlberg Kravis set to acquire TXU in a record buyout. (Taipei Times, Taiwan -- World)
TXU to Go Private in $32 Billion Deal Feb 24, 2007
Even with such giant deals in the market as HCA Inc. there has been no sign that investors' enthusiasm has wavered. Indeed, bankers say that for every dollar of supply, there has been $5 dollars of demand from yield-starved investors. (SmartMoney)
KKR, Blackstone Snare Lowest Interest Rates as Banks Bend to Loan Demand Feb 22, 2007
8 billion to pay for hospital operator HCA Inc. in November, Kohlberg Kravis Roberts & Co. and its partners negotiated a new loan with lower rates. Schwarzman, chief executive officer of Blackstone Group LP, is doing the same for a $3. (Bloomberg)
Buyout Firms More Than Doubled Canadian Investment to Record $10.9 Billion Feb 14, 2007
2 billion purchase of Toronto-based Fairmont Hotels & Resorts Inc. Buyout-firm deals totaled $700 billion globally, including the largest-ever, a $33 billion acquisition of Nashville, Tennessee-based hospital chain HCA Inc.. The highest-profile deals we saw in 2006 were Four Seasons and Fairmont Hotels, both of which were acquired by non-Canadian private-equity firms,'' Nathan said. (Bloomberg -- Canada)
Area hospitals may get new owners Feb 7, 2007
The deal comes just three months after HCA Inc., the nation's largest hospital group, went private in a $21. 3 billion buyout by Bain Capital LLC, Kohlberg Kravis Roberts Merrill Lynch nd HCA co-founder Thomas Frist Jr.. (Akron Beacon Journal, OH -- Living)
More Business Digest Feb 7, 2007
HCA net income falls more than half Hospital operator HCA Inc. said yesterday that its fourth-quarter net income fell by more than half because of costs incurred after the company was acquired by an investor group in November for $21. 3 billion. (Sunspot.net -- Business)
Triad Hospitals accepts $4.7 bln bid to go private Feb 6, 2007
So-called buyout firms have been taking a closer look at hospital companies after HCA Inc.. Continued. (ABC News -- Wire)
Daily Briefing Jan 30, 2007
Nashville - HCA Inc. on Monday said preliminary results show a 63 percent drop in fourth-quarter earnings largely because of costs related to taking the company private in November. The $21. (Atlanta Journal-Constitution -- Business)
Sylvan spinoff agrees to buyout Jan 29, 2007
Companies that were bought out last year by private investors included Aramark Corp., the largest U.S.-based food-service company; and HCA Inc., the nation's biggest hospital chain. Early last year, public-equity firms bought for-profit education company Education Management Corp., the Pittsburgh-based operator of culinary, fashion and health management schools, for $3. (SunSpot.net)
Blackstone raises offer for Equity Office Jan 26, 2007
Bidding war for Equity Office heats up; Blackstone raises ante - MarketWatch. 3%, topping Vornado group's proposal By , MarketWatch Last Update: 3:19 PM ET Jan 25, 2007 BOSTON (MarketWatch) -- The escalating bidding war for the nation's largest owner and operator of office properties took another turn Thursday when a private-equity firm raised its offer to buy Equity Office Properties Trust. (MarketWatch)
Merrill Pays Stanley O'Neal $48 Million After Earnings Surged to a Record Jan 25, 2007
He pushed traders to make bigger bets and participated in some of the year's largest leveraged buyouts, including the $33 billion deal for hospital chain HCA Inc.. BlackRock Swap. (Bloomberg)
Merrill Lynch 4Q profit beats Wall Street expectations on trading, private equity Jan 19, 2007
The company reaped huge fees from its leveraged buyouts in 2006 after participating in some of the industry's largest deals, among them an agreement with two other private equity firms to buy hospital provider HCA Inc. for $21. 3 billion the largest LBO in history. (San Diego Union-Tribune -- Business)
Merrill's O'Neal Makes Acquisitions at Fastest Pace in More Than a Decade Jan 18, 2007
5 billion for a stake in HCA Inc., the largest U.S. hospital chain. In less than a year, Merrill almost doubled the $748 million it invested in rental-car company Hertz Global Holdings Inc., Sanford C. Bernstein & Co. analyst Brad Hintz wrote in a Nov. 27 report. (Bloomberg)
Business briefs Jan 12, 2007
Published - January, 12, 2007. West Florida Hospital completes 1st phase of renovation project. (Pensacola News Journal)
Gap likely to attract equity firm Jan 9, 2007
The largest private equity deal is the takeover of hospital operator HCA Inc. for $32. 7 billion (including $11. (San Francisco Chronicle -- Business)
Tribune Co. speculation points to management Jan 7, 2007
In many cases, such as the recent $33 billion deal for hospital company HCA Inc., management and the private-equity firm approach the board with a prearranged deal. But what is management's obligation in such cases. (Chicago Tribune)
Merck KGaA Is Considering Sale of Generic-Drug Unit, Hasn't Started Talks Jan 7, 2007
In November, shareholders of HCA Inc., the biggest U.S. hospital operator, approved a $21. 3 billion buyout offer from a group including Bain Capital LLC, Kohlberg Kravis Roberts & Co., Merrill Lynch & Co. and HCA co-founder Thomas F. Frist Jr.. (Bloomberg -- Europe)
Goldman Sachs, JPMorgan score top spots for M&A in North America Jan 7, 2007
7 billion private equity deal to buy hospital operator HCA Inc., and the yet-to-be-completed $27. 8 billion takeover of Harrah's Entertainment Inc. by buyout shops. (San Diego Union-Tribune -- Business)
UBS, Deutsche Bank Stumble in Record Year for Fees From Stock, Bond Sales Jan 6, 2007
The stakes may rise in 2007 as leveraged buyouts get announced at a record clip, spurring sales of high-risk, high-yield debt that's used to finance deals like the $33 billion acquisition of U.S. hospital chain HCA Inc.. Commissions paid by private-equity firms for underwriting in the U.S. rose 21 percent to about $2. (Bloomberg)
