Capital Finance
Saratoga Hospital, a 207-bed community hospital in Saratoga Springs, N.Y., and Albany Medical Center, a 651-bed academic medical center in Albany, N.Y., are partnering to provide outpatient emergency care at a jointly run facility.
A recent article in Forbes titled "America's Most Profitable Hospitals" listed the 25 most profitable hospitals in the country. Among the questions asked were whether the profitability was a result of "running a tight ship and providing good quality or using market leverage to achieve monopoly power?"
Oxford Finance Corporation, a subsidiary of Sumitomo Corporation, has closed a $19.8 million deal for a senior credit facility with LifeHOUSE Health Services, a wholly owned subsidiary of LifeHOUSE Holdings, LLC.
A Miami-area resident who owned and operated an HIV infusion clinic pled guilty last week to participating in a $23 million Medicare fraud scheme, according to the Departments of Justice and Health and Human Services.
Healthcare spending is projected to reach nearly $4.6 trillion by 2019, growing at an average annual rate of 6.3 percent over the next decade, according to economists at the Centers for Medicare and Medicaid Services.
The Department of Veterans Affairs has selected a contractor to build the Denver VA Medical Center replacement hospital. The new hospital will be on the same campus as the University of Colorado Hospital complex in Aurora, site of the former Fitzsimons Army Medical Center.
Grubb & Ellis Healthcare REIT II, Inc., has acquired the Joplin Long-Term Acute Care Hospital, a 26,000-square-foot facility in Joplin, Mo., the second property in a $42 million acquisition spree by the firm.
Five primary care facilities that operate in underserved communities in Brooklyn, Manhattan and Queens are expected to save approximately $3.8 million through a tax-exempt bond issue to refinance nearly $30 million of loans.
Illinois Gov. Pat Quinn's plan to re-open a financially troubled hospital is a bid to help a town in need of better healthcare services and an economic shot in the arm.
Cornerstone Healthcare Plus REIT, an Irvine, Calif.-based real estate investment fund, has closed a $14.75 million deal for a 42-bed inpatient rehabilitation facility in Dallas.