Nashville, Tenn.-based NetCare Health Systems has completed the acquisition of Denton (Texas) Community Hospital from Columbia/HCA Healthcare Corp. Terms of the agreement weren't disclosed, although NetCare said the transaction was made possible, in part, by establishing a new $125 million line of credit with the Chase Manhattan Bank of New York. Formed last year, privately held NetCare now owns six hospitals with 385 beds and four nursing homes. Its facilities operate in Georgia, Mississippi and Texas. NetCare was formed by former Healthtrust executives and Charter Equity Partners, an equity fund managed by the New York investment firm Charterhouse Group.
Clifton Gaus, administrator of the Agency for Health Care Policy and Research, last week announced his resignation. Gaus will stay on until HHS Secretary Donna Shalala has selected a successor. Gaus took over as head of HHS' quality monitoring and improvement agency in mid-1994. An agency spokeswoman said Gaus will be returning to private-sector healthcare work.
HCIA, a Baltimore-based healthcare information company, has completed its acquisition of Rochester, N.Y.-based Equifax Analytical Services for $11.5 million in cash. Atlanta-based Equifax, which is also known for its credit reporting services, sold the business as part of its plans to remove itself from the healthcare information field. HCIA develops and markets clinical and financial decision support systems used by a variety of healthcare companies.
Behavioral Healthcare Corp. completed its acquisition of four mental health systems from United Psychiatric Group, Washington, for undisclosed terms. The facilities involved are Meadows Behavioral Care System, Bloomington, Ind.; Belmont Pines Hospital and RTC, Youngstown, Ohio; Fox Run Hospital and RTC, St. Clairsville, Ohio; and Mesilla Valley Hospital, Las Cruces, N.M. Meanwhile, Behavioral said it is on schedule to complete its purchase of 25 hospitals from United for up to $165 million in cash and stock. Following the transaction, the Nashville, Tenn.-based company will operate 38 hospitals in 18 states with annual revenues of $309 million.
American HomePatient, a home-care provider based in Brentwood, Tenn., has acquired three home medical equipment and infusion companies for an undisclosed amount. American HomePatient purchased Baker Health Care Specialists in Jonesboro, Ark., OptionCare in Whiteville, N.C., and I.V. Support in San Angelo, Texas. The newly acquired companies have combined annual revenues of $4 million. The purchases continue American HomePatient's buying spree, bringing its 1996 acquisition total to 31 home-care companies, which represent 82 centers and $83 million in annual revenues. The company operates 288 home-care centers in 32 states and reported 1995 revenues of $162.4 million.
U.S. Diagnostic Labs, West Palm Beach, Fla., has bought an 80% interest in Lee Imaging Group, a New York-based company operating 16 nuclear medicine centers in its metropolitan area. Financial terms of the deal, which was completed Nov. 1, weren't disclosed. Lee Imaging is expected to generate $7 million in gross revenues and $2.5 million in pretax income in 1996, a U.S. Diagnostic spokeswoman said. U.S. Diagnostic, an aggressive acquirer of freestanding diagnostic imaging centers, currently operates 80 imaging facilities and manages 18 others across the country. U.S. Diagnostic has previously announced letters of intent that would lead to the acquisition of 32 more imaging centers.
Stuart W. Williams has retired as chief executive officer of 312-bed Children's Hospital in Columbus, Ohio, after 20 years. Williams, 53, will step down Jan. 1 to explore other career paths. Medical Director Thomas N. Hansen, M.D., will serve as acting chief executive until a replacement is found. Williams was hired as the hospital's chief operating officer in 1974 and became CEO in 1976.