$QHC (Quorum Health Corporation)

$QHC {{ '2016-10-03T13:30:57+0000' | timeago}} • Announcement

$QHC will sell its 56-bed Barrow Regional Medical Center in Winder, Georgia and its associated assets to Northeast Georgia Health System. The divestiture is expected to close December 31, 2016.

$QHC {{ '2017-07-12T19:46:10+0000' | timeago}} • Announcement

$QHC's affiliate signed a letter of intent to sell 72-bed L.V. Stabler Memorial Hospital in Greenville, Alabama and its associated assets, to the City of Greenville, Alabama. The divestiture is expected to close by Sept. 30, 2017.

$QHC {{ '2017-06-30T20:23:05+0000' | timeago}} • Announcement

$QHC announced that affiliates of the company have completed the transaction for the divestiture of Trinity Hospital of Augusta in Augusta, Georgia, and its associated assets. The transaction will be effective as of June 30, 2017.

$QHC {{ '2017-06-07T13:27:19+0000' | timeago}} • Announcement

Hospital operator $QHC said its affiliates have signed a definitive agreement to sell Sunbury Community Hospital and Lock Haven Hospital in Pennsylvania, and their associated assets, to UPMC Susquehanna. The transaction is expected to be closed by September 30, 2017, subject to regulatory approvals and closing conditions.

$QHC {{ '2017-05-15T16:20:11+0000' | timeago}} • Webcast

On the $200MM of proceeds and what percentage of revenue it represents, $QHC said that it depends on the hospital that have negative EBITDA. Therefore, is should be somewhere between the 25-35% mark.

$QHC {{ '2017-05-15T16:12:55+0000' | timeago}} • Webcast

$QHC stated that the company continues to recruit in its four areas of focus namely cardiology, general surgery, orthopaedics and gastroenterology. The company added that it is seeing strength across those areas and is having success in adding some outpatient sites and urgent care centers.

$QHC {{ '2017-05-15T15:52:52+0000' | timeago}} • Webcast

$QHC said in 1Q17 the company paid legal settlements of $3.8MM, while CapEx, including software for the quarter was $24.7MM. The company added that of the CapEx in 1Q17, about $11.7MM was spent on the Oregon project and still estimates that the total cost of the project to be about $105MM and expects the project to be completed in early 2018.

$QHC {{ '2017-05-15T15:37:15+0000' | timeago}} • Webcast

$QHC's expansion project in Springfield, Oregon is progressing well and is on time for completion for the opening of the new patient rooms and additional operating room capacity. Regarding the various outsourcing agreements, the company said it is still in negotiations to transition the billing and collection cycle agreements.

$QHC {{ '2017-05-15T12:13:28+0000' | timeago}} • Announcement

$QHC expects FY17 operating revenue in the range of $2.05-2.10Bil and adjusted EBITDA in the range of $150-170MM. Adjusted EBITDA, adjusted for potential divestitures, is predicted to be in the range of $170-200MM.

$QHC {{ '2017-05-15T12:09:46+0000' | timeago}} • Announcement

$QHC's revenue for 1Q17 declined 4%. This was due to lower revenues from the two hospitals divested in December 2016 and decline from inability to accrue in 2017 period for California Hospital Quality Assurance Fee program revenues for 2017 to 2019 program period pending approval by Centers for Medicare and Medicaid Services.

$QHC {{ '2017-05-15T12:08:04+0000' | timeago}} • Announcement

$QHC reported a wider loss in 1Q17 due to lower revenues as well as negative impact from the two hospitals divested in December 2016, decline in taxes on California HQAF program and impairment charges. Net loss widened to $27.56MM or $0.99 per share from $5MM or $0.18 per share last year. Revenue fell to $527.64MM from $549.55MM.

$QHC {{ '2017-05-12T21:10:21+0000' | timeago}} • Announcement

$QHC has signed a definitive agreement to sell 45-bed Henderson County Community Hospital in Lexington, Tennessee, and 45-bed McKenzie Regional Hospital in McKenzie, Tennessee, and their associated assets, to SSH Tennessee, LLC. The divestiture is expected to close by August 1, 2017, subject to customary approvals and conditions.

$QHC {{ '2017-04-17T21:06:25+0000' | timeago}} • Announcement

$QHC launched an offer to exchange its 11.625% Senior Notes due 2023 of $400MM for a like principal amount of 11.625% Senior Notes due 2023. The exchange offer will expire on May 17, 2017, unless extended by the company.

$QHC {{ '2017-04-13T18:47:46+0000' | timeago}} • Webcast

$QHC expects to complete the sale of its facility in Augusta, Georgia in 2Q17. The company is evaluating additional facilities for potential divestiture. The company said it will use all of the divestiture proceeds to pay down approx. 25% of its total debt.

$QHC {{ '2017-04-13T18:40:57+0000' | timeago}} • Webcast

During 2016, $QHC divested two strategic facilities in Georgia and North Carolina. The company also completed the sales of its hospital in Centre, Alabama, on March 31, 2017. Net proceeds from all of these sales approximated $18MM and was used to pay debt, said the company.

$QHC {{ '2017-04-06T13:33:53+0000' | timeago}} • Announcement

$QHC BoD completed its investigation of certain matters related to the “spin-off” of the company from $CYH in April 2016, which were raised in a letter dated October 12, 2016 from R2 Investments, LDC.

$QHC {{ '2017-03-30T13:09:14+0000' | timeago}} • Announcement

$QHC affiliates signed a definitive agreement to sell 231-bed Trinity Hospital of Augusta in Georgia, and its associated assets, to The Richmond County Hospital Authority. The divestiture is expected to be completed by June 30, 2017, subject to customary regulatory approvals and closing conditions.

$QHC {{ '2017-03-29T14:22:14+0000' | timeago}} • Announcement

$QHC is evaluating potential divestitures of more hospitals with negative and low EBITDA margins. It estimates cash proceeds from these transactions to be approx. $200MM, which will be used to reduce its secured debt.

$QHC {{ '2017-03-29T14:18:46+0000' | timeago}} • Announcement

$QHC CEO Thomas Miller said, "On the restructuring front, of the hospitals we initially targeted for divestiture, we sold two in 4Q16. These two hospitals represented almost $19MM of negative EBITDA during 2016."

$QHC {{ '2017-03-29T14:17:13+0000' | timeago}} • Announcement

In FY17, $QHC sees net operating revenues to be  between $2.05Bil and $2.10Bil and adjusted EBITDA in the range of $150-170MM. Notably, it did not provide guidance for net income/loss, citing lack of sufficient information.

$QHC {{ '2017-03-29T14:12:30+0000' | timeago}} • Announcement

Acute care hospitals operator $QHC posted a wider loss in 4Q16, hurt by $41.5MM of impairment charges and lower net operating revenues. Net operating revenues slid 7.7% to $515.2MM. Net loss attributable to $QHC was $90.7MM, or $3.19 per share, much wider than $0.6MM, or $0.02 per share in 4Q15. Excluding items, net loss was 0.53 per share.

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