The network of eight St. Louis-area hospitals that was announced last summer (Aug. 23, 1993, p. 19) has come up with a name. Its choice: the St. Louis Health Care Network. The network includes six hospitals in the SSM Health Care System, 424-bed DePaul Health Center and 316-bed St. Louis University Health Sciences Center. The hospitals will share common management but keep their sponsorships. A spokeswoman also said that the hospitals had decided to create three corporations for the network. They will oversee the organization and delivery of physician services, establish relationships with insurance companies and manage network resources.
Hartmut Krukemeyer, founder, sole owner and board chairman of Paracelsus Healthcare Corp. since its inception in 1980, died May 21 in Osnabruck, Germany. The details of his death were unavailable. Mr. Krukemeyer was in his late 60s. His son, Manfred George Krukemeyer, became the company's new owner and board chairman. Operations are continuing under R.J. Messenger, the company's president and chief executive officer. Pasadena, Calif.-based Paracelsus operates 18 hospitals in the United States with a total of 830 beds, according to MODERN HEALTHCARE's 1994 Multi-unit Providers Survey. The international company also operates facilities in Germany, Austria, England, Switzerland and France, with 8,633 beds worldwide.
Olsten Kimberly QualityCare has signed a national contract with Minnetonka, Minn.-based United HealthCare Corp. to provide comprehensive home healthcare services to United's 20 health plans nationwide. Terms of the deal weren't released. Westbury, N.Y.-based Olsten is the nation's largest home-care company, providing nursing and home-care staffing services through 600 branch offices.
Inphynet Medical Management, a holding company formed by two newly merged emergency medicine contract management companies, has filed a registration statement with the Securities and Exchange Commission for a public offering of 2.5 million shares of common stock. EMSA Limited Partnership, Fort Lauderdale, Fla., and Acute Care Specialists, Akron, Ohio, merged last year to form a company with more than 130 hospital contracts with 1,500 physicians. Underwriters are Lehman Brothers and Cowen and Co.
Horizon Healthcare Corp. and Genesis Health Ventures have established a limited partnership between Horizon pharmacy subsidiary National Institutional Pharmacy Services and ASCO Healthcare, a wholly owned pharmacy subsidiary of Kennett Square, Pa.-based Genesis. Details of the agreement weren't available. The newly formed partnership will be named ASCO Healthcare of New England and is expected to provide institutional pharmacy services to more than 4,200 long-term-care beds. In related news, Horizon announced it has increased its bank credit facility to $100 million with four regional banks. Proceeds from the increase will be used to finance future acquisitions and expand Horizon's specialty programs. Albuquerque, N.M.-based Horizon operates 92 long-term-care facilities, 21 subacute-care units and seven specialty hospitals nationwide.
Caremark International's nephrology services division has purchased five Oakland, Calif.-area kidney dialysis clinics from Oakland-based Chabot Nephrology Medical Group for an undisclosed amount. The clinics employ 150 people and treat a patient base of about 500 suffering from end-stage renal disease. In addition, the Northbrook, Ill.-based company has formed a management service organization with Chabot to operate the clinics and to help market Caremark's network of dialysis services in the region. Caremark provides home healthcare, prescription drug management, and nephrology and orthopedic services nationwide.
Smiths Industries, a London-based maker of medical equipment and intensive-care products, said it will pay $150 million for St. Paul, Minn.-based Deltec. The company, a subsidiary of the Swiss firm Pharmacia AB, makes ambulatory infusion pumps and implantable vascular access ports. It had sales of $90.1 million last year, mostly in the United States.