Final ok on AHERF hospital sale delayed
Article Abstract:
The final approval on the $345-million sale of Allegheny Health, Education and Research Foundation's (AHERF) eight hospitals in Philadelphia, PA, to Tenet Healthcare Corp. has been deferred by US Bankruptcy Court Judge M. Bruce McCullough. The decision was delayed because there are still some issues left to be settled by AHERF and its creditors. The most significant of these issues is how much money will still be left for the creditors if part of the sale's proceeds go toward Drexel University for agreeing to oversee Allegheny University of the Health Sciences. The $50-million contract signed with Drexel was critical to closing the deal with Tenet.
Comment:
Final approval on firm's purchase of Allegheny Health Education & Research Foundation's 8 Philadelphia, PA, hospitals is delayed
Publication Name: Pittsburgh Post-Gazette (PA)
Subject: Business, regional
ISSN:
Year: 1998
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Individual cost to drop at hospital
Article Abstract:
Ellwood City Hospital in Pittsburgh, PA, will reduce the daily rate for hospital rooms by an average of 10% in a move that is aimed at raising attracting more patients. The price cuts would directly benefit patients that decide to stay in the hospital, not the insurers that are already paying at discounted rates. The move reflects hospitals' need to attract more patients at a time of declining occupancy and regional oversupply. According to Herbert Skuba, president of Ellwood City Hospital, the price cut also comes at a time when HMOs, which take up a 35% share of the hospital's operating revenue, are reducing rates.
Comment:
Will reduce the daily rate for hospital rooms by an average of 10% in a move that is aimed at raising attracting more patients
Publication Name: Pittsburgh Post-Gazette (PA)
Subject: Business, regional
ISSN:
Year: 1998
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CFO resigns from AGH parent
Article Abstract:
Allegheny Health Education and Research Foundation (AHERF) Chief Financial Officer David W. McConnell has resigned. His departure at the parent of Allegheny General Hospital followed the exit of the foundation's chief executive officer Sherif Abdelhak on Jun. 5, 1998. Abdelhak was replaced by Anthony Sanzo, whose appointment came amid a growing financial crisis brought on by the foundation's fast expansion in Philadelphia. The foundation named Joseph Dionisio, chief financial officer for AHERF in Western Pennsylvania, as McConnell's replacement.
Comment:
PA: Allegheny Health Education and Research Foundation Chief Financial Officer David W. McConnell resigns
Publication Name: Pittsburgh Post-Gazette (PA)
Subject: Business, regional
ISSN:
Year: 1998
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