ENCINO, Calif.-Federal bankruptcy court Judge Arthur M. Greenwald this month ordered the appointment of a trustee to operate Triad Healthcare, owner of two San Fernando Valley hospitals that filed for federal bankruptcy protection earlier this month. It operates 125-bed Sherman Oaks (Calif.) Hospital and Health Center and 139-bed West Valley Hospital and Health Center in Canoga Park, Calif. The judge's decision to order a trustee is expected to end a bitter impasse between Triad executives and the healthcare system's largest creditor, the state of California. Triad filed for bankruptcy in early February in an attempt to dodge state efforts to put the company in receivership. Triad last year defaulted on a $167 million loan from California's Cal-Mortgage program, which it used to acquire the hospitals in 1991 (Nov. 29, 1993, p. 18).
REDLANDS, Calif.-Through a joint-venture arrangement with Intergroup Healthcare Corp., a Tucson, Ariz.-based managed-care company, Pacific Physician Services, a prepaid healthcare management company here, has entered into an agreement to acquire Southeast Valley Medical Group, an 11-physician primary-care practice in Phoenix with annual revenues of $5.5 million. Terms of the acquisition, which is pending regulatory approvals, weren't disclosed. However, the physician management company said the addition of Southeast Valley will help to expand its presence in its growing Arizona market. Southeast Valley operates two outpatient medical centers in Chandler and Mesa, serving 4,000 HMO enrollees and 14,000 fee-for-service patients. Last year, Pacific Physician Services acquired Downtown Physicians, a five-physician medical group practice providing medical care for 7,000 managed-care enrollees (Oct. 4, 1993, p. 40). Pacific Physician Services' prepaid healthcare network provides managed care for 270,000 enrollees, largely in Southern California and Arizona.
SAN FRANCISCO-The board of directors of St. Mary's Hospital and Medical Center in San Francisco has changed the facility's name to St. Mary's Medical Center. Approved last month, the name change was effective immediately. Executives at the 367-bed facility, which is a division of San Francisco-based Catholic Healthcare West, said the name change will help to communicate its "broadened role as the center of a vast array of services." Catholic Healthcare West is a healthcare system composed of affiliated physician group practices, long-term-care facilities and 12 hospitals in Arizona, California and Nevada.