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$MD announced the acquisition of Tri-Valley Neonatal Medical Group, Inc., a private neonatology physician practice based in California. This was a cash transaction and it is expected to be immediately accretive to earnings. No additional terms of the transaction were disclosed.
$THC and St. Luke’s Hospital, an independent, non-profit healthcare provider, have entered into a definitive agreement for St. Luke’s to purchase Des Peres Hospital as well as Tenet-owned physician practices and other hospital-affiliated operations in St. Louis. The transaction is expected to be completed early in 2018.
$THC and Baylor Scott & White Health plan to restructure their JV arrangements for three North Texas hospitals by spring of 2018. Baylor Scott & White will acquire $THC’s minority interest in Baylor Scott & White - Centennial and Baylor Scott & White - Lake Pointe. Baylor Scott & White - Sunnyvale will become part of Texas Health Ventures Group.
$HLS completed its planned name change to Encompass Health Corp. Effective with the opening of trading on Jan. 2, 2018, the company's NYSE ticker symbol will change from "HLS" to "EHC". The rollout is expected to be fully completed by 1Q19.
$THC and Baylor Scott & White Health have agreed to sell Baylor Scott & White Medical Center - White Rock, a 218-bed hospital located in Dallas, Texas, to Pipeline Health, LLC. The hospital is part of a JV partnership with Baylor Scott & White Health, in which $THC is the minority owner. The transaction is expected to be completed in 1Q18.
$KND's BoD approved a definitive agreement whereby it will be acquired by a consortium of three companies: TPG Capital, Welsh, Carson, Anderson & Stowe and $HUM for about $4.1Bil in cash including the assumption or repayment of net debt. The transaction is expected to close during the summer of 2018.
$THC said it would explore a sale of its subsidiary Conifer. The company expects to make a decision regarding the sale during the first half of 2018. Goldman, Sachs & Co. LLC as its financial advisor and Kirkland & Ellis LLP are the legal advisor.
$DVA's DaVita Medical Group division announced the acquisition of Northwest Physicians Network, an independent physician association (IPA) network in the Pacific Northwest. The acquisition opens up the opportunity for partnership with The Everett Clinic, a part of DaVita Medical Group, potentially expanding choices for patients and providers.
$THC announced that Sandi Karrmann has been named SVP and Chief Human Resources Officer, effective immediately. Ms. Karrmann replaces Robb Webb, who has retired from the company. She will report directly to Ron Rittenmeyer, Executive Chairman and CEO.
$DVA expects that restructuring related to a reorganization of its international operating structure to save about $6.5MM per year in international cost starting in 2018. For 2017, $DVA reaffirmed international operating income guidance. Looking forward, $DVA still expects to reach breakeven internationally during 2018.
$DVA said Hurricane Harvey and Irma negatively impacted its non-acquired growth by about 25 basis points for 3Q17, leaving its non-acquired growth at 3.3%. $DVA continues to expect non-acquired growth to be within the range of 3.5-4.5% on an annual basis, although it will likely be near the lower end of the range for 2017.