Posted by Jason Greis on August 11, 2010 under Articles, Industry News | 
On August 4, 2010 it was announced that Cornerstone Healthcare Group completed a merger with Solara Healthcare. Both Cornerstone and Solara are privately-owned, Dallas-based providers of Long-Term Acute Care (LTAC) hospital services. The newly-combined company consists of 18 owned and managed LTAC hospitals, operating in Texas, Louisiana, Arizona, West Virginia, Ohio and Oklahoma. The combined company will be led by Mike Brohm, President and CEO of Cornerstone and the Cornerstone executive management team. Cornerstone and Solara will both continue to operate under their existing brand names. The combined company will become the nation’s fourth largest provider of LTACH services (by number of LTACH facilities owned or managed) behind Select, Kindred and Rehabcare (and assuming Select and Regency complete their proposed transaction). Financial terms of the merger were not disclosed. Read More...
Tags: cornerstone, greisguide, greisguidetoltachs, highland capital management, jason greis, ken ross, kindred, LifeCare, ltac, LTACH, LTCH, mcguirewoods, merge, merger, mike brohm, rehabcare, select, solara, transaction
Posted by Jason Greis on October 15, 2009 under Articles, Presentations |
I have attached a copy of the presentation (click here) that I gave at ALTHA’s Legal Issues Conference on Tuesday, October 13, 2009. The presentation addresses how and why various macroeconomic and facility-specific financial, regulatory and operational pressures resulted in ”fire sales” in the LTACH market in 2009 and why 2010 will be a year in which over 60 LTACHs are expected to change ownership at much more attractive EBITDA multiples. Please feel free to call me if you have any questions about my presentation. Read More...
Tags: acquisition, acute long term hospital association, altha, consolidation, divest, EBITDA, greisguide, greisguidetoltachs, jason greis, ltac, LTACH, LTCH, macroeconomic, mcguirewoods, merger, microeconomic, mmsea, transaction
Posted by Jason Greis on under Events |
McGladrey Capital Markets and RSM McGladrey will be hosting two webcasts for privately-held companies and private equity groups. The October 21 webcast is designed for owners of privately-held companies. The October 22 webcast is tailored to private equity groups looking to divest portfolio company holdings. Please click below to register for these complimentary webinars: Read More...
Posted by Jason Greis on September 29, 2009 under Articles |
Section 114 of the Medicare, Medicaid, and SCHIP Extension Act of 2007 (“MMSEA”) established, among other things, a three-year temporary moratorium on the establishment of new LTACHs and LTACH beds, subject to certain limited exceptions. When rules implementing the moratorium were released by CMS in an Interim Final Rule on May 22, 2008, CMS did not specify which change of ownership and facility relocation activities by existing LTACHs and LTACH satellite would continue to be permissible under the moratorium. In fact, CMS specifically advised the industr that such questions should be directed to their Medicare Administrative Contractors, and that the CMS Regional Office would address specific situations on a case by case basis. Read More...
Tags: asset sale, Change of Ownership, chow, co-locate, consolidate, consolidation, development, greisguide, greisguidetoltachs, hospital, jason greis, long term acute care hospital, long term care hospital, ltac, LTACH, LTCH, medicare, merge, merger, mmsea, provider agreement, provider number, Relocation, satellite, Section 114, stock sale, transaction
Posted by Jason Greis on May 28, 2009 under Industry News |
BIRMINGHAM, Ala., May 27, 2009 – Principle Pharmacy Group, Inc., a leading pharmacy services company providing institutional pharmacy management and specialty pharmacy services for long term acute care hospitals and community hospitals, announced today the completion of its transaction with new investors which will help the company grow and expand its core platform of pharmacy services. Health Enterprise Partners, a New York investment firm, led the investor syndicate. Other investors in the syndicate are Redmont Venture Partners through the Enhanced Capital Alabama Fund II, LLC and Stonehenge Capital Company LLC. Read More...
Tags: bill cash, greisguide, greisguidetoltachs, health enterprise partners, hospital, investor, jason greis, ltac, LTACH, LTCH, pharmacy, principle pharmacy group, redmont venture capital, stonehenge capital, transaction
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