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Former Triad Hospitals CEO James Shelton has joined private equity group CCMP Capital as a healthcare acquisitions advisor. That’s a nice gig considering a year ago Triad jilted CCMP and Goldman Sachs, choosing instead to sell to Community Health Systems.

Still, expect Shelton — who ran HCA’s Central Group in the mid-1990s — to again have a hand in Nashville’s healthcare scene soon enough: CCMP is also an investor in his new venture, Legacy Hospital Partners.

Another solid Nashville connection in all this: CCMP’s investment in Legacy is led by Nancy Ann DeParle, a former Tennessee Commissioner of Human Services and director of the Centers for Medicare and Medicaid Services.

CHS, meanwhile, is still tidying up after its $6.8 billion Triad purchase. The Franklin-based company continues to offload hospitals, most recently selling a Virginia facility for $45 million.

So far, CHS has sold a little more than half of the $800 million worth of spinouts analysts expected following the Triad deal. No word yet on where the next round of sales may happen. Maybe Shelton and Legacy would be willing to deviate just a little from their business plan?

It’s been a rough 2008 for many public companies, but Wall Street darling Healthways has taken an especially tough lickin’. After CMS announced in late January that the Medicare Health Support pilot programs Healthways is helping run are not living up to expectations, shares of the company quickly slid from nearly $70 to below $50, wiping out more than $700 million in market value.
Healthways fired back in mid-February, arguing that the MHS patients it received were far sicker than CMS had indicated they would be. That didn’t help the stock, which is also being tested by rumors that the company is set to lose a major contract with BlueCross BlueShield in Minnesota.


Walker Duncan is a reporter at NashvillePost.com, a sister publication of Nashville Medical News. You can reach him at walker.duncan@nashvillepost.com.


For more corporate healthcare news, go online to www.nashvillemedicalnews.com or our sister publication www.nashvillepost.com



March 2008

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