Richard Breon, president and CEO of Grand Rapids, Mich.-based Spectrum Health, announced Tuesday he will retire in 2019 after 17 years at the helm of the system.
It may seem odd that Advocate Health Care is spending big on outpatient facilities while also cutting $200 million from its $5.6 billion budget. The bet, however, is that adding cheaper-to-run outpatient sites will woo more patients. More patients equals growth.
Little Company of Mary Hospital & Health Care Centers has signed a letter of intent to join Rush, the Chicago-based academic hub that's been looking to bulk up. The deal marks Rush's expansion to the south suburbs and Little Company's exit as an independent hospital.
Singleton oversaw the growth of the Falls Church, Va.-based system from $500 million to $3.3 billion in revenue. Recently, he was involved in efforts to bolster Inova's position as a national leader in precision medicine and cancer research.
More than 20 hospital systems in Florida closed physician offices and ambulatory centers before Hurricane Irma hit. But most sustained minimal physical damage from the storm and have reopened, Moody's said.
The Northwell Health offering, slated for next week, is the latest in a series of $1 billion deals that hospital systems have undertaken this year.
As the opioid epidemic continues to ravage Northeast Ohio, local not-for-profit organizations have found themselves on the frontlines.
Missing turnaround goals can pose problems for acquisition targets, and Chicago-based Presence Health is now $13 million behind where it wants to be financially.
Catholic supersystems are exploring partnerships that preserve their religious values.
Ascension can count on little regulatory resistance to its acquisition of Presence Health because it is structuring the deal like a previous joint venture in Chicago.
Not-for-profit providers' expense growth will likely continue to eclipse their revenue increases, as rising costs and downward pressure on reimbursement levels have a compounding effect over the years.
Following divestiture of three hospitals, IU Health's operating income tumbled 46% in the second quarter as revenue fell but expenses rose.