HealthSpring, Inc. will conduct a live webcast of its Investor Day conference to be held in Miami on January 23, 2008. The meeting will be hosted by Herbert A. Fritch, chairman, president, and chief executive officer of HealthSpring, and will feature presentations by the senior leadership regarding HealthSpring’s operational results, strategic outlook, and future initiatives. The Company also anticipates reporting guidance for estimated 2008 membership, revenue, and earnings per share, among other relevant financial and operating metrics. The webcast is scheduled to run 10 a.m. to 2 p.m. (CST). To listen, visit www.healthspring.com and select the “Investor Relations” link. A webcast replay will be available online through February 29, 2008.
Brentwood-based Renal Advantage Inc. (RAI), the third largest for-profit provider of dialysis services in the United States, recently announced it has increased its presence in the Mid-Atlantic market through the addition of a freestanding dialysis center located in Hyattsville, Maryland. This transaction, for which terms were not announced, was completed on December 4, 2007.
At the end of November, Franklin-based Community Health Systems announced the execution of a definitive agreement to sell nine hospitals to Capella Healthcare, Inc., a privately held, for-profit hospital company also headquartered in Franklin. The aggregate purchase price for the transaction, which is structured as a sale of stock, is $315 million. The transaction is subject to the typical closing contingencies for a transaction of this size, and is expected to close on January 31. The hospitals included in the transaction are in Alabama, Arkansas, Missouri, Oregon and Tennessee (White County Medical Center in Sparta). “We are proud of each of these facilities and very respectful of the contributions made by their dedicated employees, medical staff members and leadership teams to the growth and success of our organization,” said Wayne T. Smith, chairman, president and CEO of Community Health Systems, Inc. “We know that these facilities will continue to flourish and admirably serve their patients and communities under the Capella Healthcare banner.”
LifePoint Hospitals, Inc. recently announced its board of directors has authorized a share repurchase program of up to $150 million of the company’s common stock over the next 12 months. LifePoint, which had approximately 58.1 million shares of common stock outstanding as of September 30, 2007, is not obligated to repurchase any specific number of shares under the program. Based on the November 26, 2007, closing price, approximately 5.1 million shares, or 9 percent of the company’s shares outstanding, could be repurchased for $150 million. William F. Carpenter III, president and CEO of LifePoint Hospitals, Inc., said, “We are pleased to announce this new authorization, our second in the past five years. This latest action underscores our long-term commitment to enhancing stockholder value.”
January 2008
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