USPI

Tenet Reports Fourth Quarter and FY 2023 Results; Provides 2024 Financial Outlook

Retrieved on: 
Thursday, February 8, 2024
Managed Care, Hospitals, Health, COVID, Adjustment, USPI, United Surgical Partners International, Medicaid, Ambulatory care, Medicare, Hospital

Net income from continuing operations available to the Company’s common shareholders in the fourth quarter 2023 was $244 million, or $2.30 per diluted share, versus $102 million, or $0.92 per diluted share, in fourth quarter 2022.

Key Points: 
  • Net income from continuing operations available to the Company’s common shareholders in the fourth quarter 2023 was $244 million, or $2.30 per diluted share, versus $102 million, or $0.92 per diluted share, in fourth quarter 2022.
  • Fourth quarter 2023 included COVID-related stimulus grant income of $2 million pre-tax ($2 million after-tax, or $0.02 per diluted share) versus $40 million pre-tax ($30 million after-tax, or $0.28 per diluted share) in fourth quarter 2022.
  • Adjusted EBITDA1 excluding grant income in fourth quarter 2023 was $1.010 billion compared to $857 million in fourth quarter 2022, reflecting strong volume growth in our Ambulatory Care and Hospital Operations segments, favorable payer mix, as well as improved contract labor costs.
  • Additionally, in the fourth quarter of 2023, the Company recognized a $52 million aggregate favorable pre-tax impact associated with Medicaid supplemental revenue program adjustments in California and Texas.

Tenet Advances Portfolio Transformation and Previews Strong 2023 Results

Retrieved on: 
Thursday, February 1, 2024
Hospitals, Health, Surgery, Hospital, THC, Tenet, Novant Health, United Surgical Partners International, Adjustment, Tenet Healthcare, USPI, Medicaid, Depreciation, Sale, University, Health insurance

In addition, Tenet announced that it expects to exceed the high end of its latest FY23 Adjusted EBITDA Outlook range included in its third quarter 2023 earnings release.

Key Points: 
  • In addition, Tenet announced that it expects to exceed the high end of its latest FY23 Adjusted EBITDA Outlook range included in its third quarter 2023 earnings release.
  • Additionally, Tenet has entered into a definitive agreement with UCI Health for the sale of four Tenet hospitals and related operations in Orange County and Los Angeles County.
  • The results were driven, among other things, by strong surgical growth at United Surgical Partners International (USPI).
  • “Our team continues to deliver consistently strong results, driven by Tenet’s data-driven and disciplined operating model,” said Sutaria.

CyrusOne Announces Owen Morris as Chief Financial Officer

Retrieved on: 
Thursday, January 11, 2024
Technology, Engineering, Other Technology, Software, Manufacturing, Networks, Internet, Data Management, IOT (Internet of Things), Artificial Intelligence, Strategic planning, Accounting, MBA, Treasurer, Morris, USPI, Moses Austin, Risk management, History, University, Government, Treasury, Management

CyrusOne, a leading global data center developer and operator specializing in delivering state-of-the-art digital infrastructure solutions, today announced Owen Morris as its new Chief Financial Officer effective March 11, 2024.

Key Points: 
  • CyrusOne, a leading global data center developer and operator specializing in delivering state-of-the-art digital infrastructure solutions, today announced Owen Morris as its new Chief Financial Officer effective March 11, 2024.
  • In this role, Morris will be responsible for leading CyrusOne’s global finance organization, including accounting, financial reporting, risk management, treasury, and strategic planning.
  • “I am excited for the opportunity to join CyrusOne and play a meaningful role as part of the senior management team,” said Morris.
  • “Owen is an accomplished leader and CFO who has worked across multiple industries during his notable career,” said Eric Schwartz, CEO of CyrusOne.

Avanza Healthcare Strategies Appoints Mark Garvin as Executive in Residence

Retrieved on: 
Tuesday, January 9, 2024
Surgical Care Affiliates, USPI, ASC, Entrepreneur in residence, Hospital, Abdominal ultrasonography, Nursing

WESTCHESTER, Ill., Jan. 9, 2024 /PRNewswire/ -- Avanza Healthcare Strategies, a national advisory firm empowering hospitals and health systems to develop, execute, and oversee their ambulatory and outpatient initiatives, has appointed Mark Garvin as the company's Executive in Residence.

Key Points: 
  • WESTCHESTER, Ill., Jan. 9, 2024 /PRNewswire/ -- Avanza Healthcare Strategies, a national advisory firm empowering hospitals and health systems to develop, execute, and oversee their ambulatory and outpatient initiatives, has appointed Mark Garvin as the company's Executive in Residence.
  • Mark has over 25 years of experience planning, operating, and managing ambulatory surgery centers (ASCs) and ambulatory care partnerships.
  • As Executive in Residence, Mark will work with Avanza's clients on strategic and operational planning as they develop their ASC and ambulatory strategies.
  • Avanza Healthcare Strategies, the advisory subsidiary of MedHQ, is currently working on over 30 projects across the country representing hospitals, health systems, management organizations, and physician groups.

Wenzel Spine Announces Expansion of Executive Leadership Team and Planned Entry into Minimally Invasive Interventional Spine Market

Retrieved on: 
Thursday, December 7, 2023
Medical Devices, Health, Surgery, Health Technology, General Health, Biotechnology, White, Executive, Spine, Multimedia, United Surgical Partners International, Patient, Trust, Spinal board, Growth, Scoliosis and Spinal Disorders, USPI, Management, Bookbinding

This strategic move is poised to enhance the company's innovative edge and entry into the minimally invasive interventional spine market.

Key Points: 
  • This strategic move is poised to enhance the company's innovative edge and entry into the minimally invasive interventional spine market.
  • (Photo: Business Wire, Inc.)
    William Wilson, CEO of Wenzel Spine, commented on the recent expansion, saying, "The addition of Dr. Gordon to our executive team and our engagement with MM Dillon & Co. represent significant steps forward for Wenzel Spine.
  • "I am thrilled to join the Wenzel Spine executive leadership team," said Dr. Gordon.
  • I think Wenzel Spine has the capability to quickly enter the minimally invasive interventional spine market with unique technologies."

Tenet Healthcare to Sell Three South Carolina Hospitals to Novant Health

Retrieved on: 
Friday, November 17, 2023
Managed Care, Hospitals, Health, Sale, United Surgical Partners International, Particular, Security (finance), Tenet Healthcare, Depreciation, Tenet, Novant Health, COVID-19, Adjustment, Partnership, Hospital, USPI, Nursing, Carolinas

Tenet’s ambulatory facilities operated by United Surgical Partners International (USPI) in these markets will remain with Tenet.

Key Points: 
  • Tenet’s ambulatory facilities operated by United Surgical Partners International (USPI) in these markets will remain with Tenet.
  • Under the purchase agreement, Tenet's Conifer Health Solutions subsidiary will enter into a new and expanded fifteen-year contract to provide revenue cycle management services for the South Carolina hospitals and related operations.
  • Furthermore, Novant Health and USPI will be enhancing their ambulatory surgery partnership to increase access to high-quality, ambulatory surgical services for communities across the Carolinas.
  • “Our three hospitals on the coast in South Carolina are well regarded by the communities they serve for the high-quality specialty services they deliver,” said Saum Sutaria, M.D., Chairman and CEO, Tenet Healthcare.

HealthTrust University Conference Attracts Record Number of Healthcare Leaders, Exhibitors, and Education Experts

Retrieved on: 
Thursday, August 17, 2023
Other Health, General Health, Supply Chain Management, Professional Services, Hospitals, Retail, Nursing, Medical Supplies, Transport, Practice Management, Health, Logistics, Consulting, Morgan Stanley, Communication, Mandalay Bay Convention Center, NEXT Woman of the Year awards, Education, HTU, Arizona Cardinals, WellSpan Health, Continuing medical education, Organization, USPI, Houston Texans, Patient, Physician, COVID-19 Response Recognition Award, Merck, United Surgical Partners International, Conference, Scripps Health, Success, Caregiver, Pharmaceutical industry

HealthTrust Performance GroupSM , a leading healthcare performance improvement organization, reported record engagement on the part of members, suppliers, and subject matter experts during the recently concluded HealthTrust University (HTU) Conference in Las Vegas, Nevada.

Key Points: 
  • HealthTrust Performance GroupSM , a leading healthcare performance improvement organization, reported record engagement on the part of members, suppliers, and subject matter experts during the recently concluded HealthTrust University (HTU) Conference in Las Vegas, Nevada.
  • HealthTrust executives and leading experts in healthcare and supply chain emphasized best practices to optimize outcomes for patients and communities served by HealthTrust member organizations.
  • Approximately 3,500 attendees participated in the conference that took place July 17-19 at Mandalay Bay Convention Center.
  • More than 100 subject matter experts led education sessions—most with Continuing Education credits—and micro-sessions covering topics on oncology and biologics, value analysis, purchased services, and more.

Tenet Reports Second Quarter 2023 Results; Raises 2023 Outlook

Retrieved on: 
Monday, July 31, 2023
Managed Care, Hospitals, Health, Ambulatory care, Medicare, Sale, USPI, Adjustment, United Surgical Partners International, Hand, COVID, Video game, Health insurance, Nursing, Cryptocurrency, Security (finance), Tutoring

Net income from continuing operations available to the Company’s common shareholders in the second quarter 2023 was $123 million, or $1.15 per diluted share, versus $38 million, or $0.35 per diluted share, in second quarter 2022.

Key Points: 
  • Net income from continuing operations available to the Company’s common shareholders in the second quarter 2023 was $123 million, or $1.15 per diluted share, versus $38 million, or $0.35 per diluted share, in second quarter 2022.
  • Second quarter 2023 included COVID-related stimulus grant income of $8 million pre-tax ($6 million after-tax, or $0.06 per diluted share) versus $94 million pre-tax ($71 million after-tax, or $0.65 per diluted share) in second quarter 2022.
  • Adjusted EBITDA1 excluding grant income in second quarter 2023 was $835 million compared to $749 million in second quarter 2022, reflecting strong volume growth in our Ambulatory Care and Hospital Operations segments, and improved contract labor costs.
  • Second quarter 2022 results included the adverse impacts associated with a cybersecurity incident.

Regent Surgical Health Welcomes Erik Kraemer as Chief Development Officer

Retrieved on: 
Tuesday, March 28, 2023
ASC, Interim, Executive, Partnership, Surgeon, University, Florida State University, CDO, De novo, Organization, USPI, Hospital, Acquisition, Physician, Growth, Nursing, Regent

NASHVILLE, Tenn., March 28, 2023 /PRNewswire/ -- Regent Surgical Health announced today that Erik Kraemer has joined the company as Chief Development Officer (CDO), an addition that strengthens Regent's reputation for partnering with leading health systems across the country to scale their ambulatory platforms.

Key Points: 
  • NASHVILLE, Tenn., March 28, 2023 /PRNewswire/ -- Regent Surgical Health announced today that Erik Kraemer has joined the company as Chief Development Officer (CDO), an addition that strengthens Regent's reputation for partnering with leading health systems across the country to scale their ambulatory platforms.
  • "Erik knows healthcare and brings valuable experience to the company at a strategic point in our journey," says Joe Clark, Regent's Executive Chairman, and Interim CEO.
  • Prior to joining Regent, Kraemer led the development efforts for the east coast region of USPI which included hospital/physician ventures and responsibility for acquisition and de novo activity.
  • Since 2001, Regent has developed, owned, and managed ASC facilities in partnership with hospitals and physicians and has grown to become the nation's largest private health system joint venture-focused ASC operator.

US FDA Approves Intramuscular Administration for Merck’s MMRV Family of Vaccines: M-M-RII (Measles, Mumps, and Rubella Virus Vaccine Live), VARIVAX (Varicella Virus Vaccine Live), and ProQuad (Measles, Mumps, Rubella and Varicella Virus Vaccine Live)

Retrieved on: 
Monday, March 6, 2023
Biotechnology, Pharmaceutical, Men, Oncology, Health, FDA, Consumer, Clinical Trials, MSD, History, Immunization, NYSE, Vaccine, USPI, MRK, IM, MMRV, Regulation of food and dietary supplements by the U.S. Food and Drug Administration, SC, European, Measles, Food, CDC, Mumps, Merck & Co., II, Rubella, Pharmaceutical industry, Merck

While these vaccines have a long history in the U.S., until now they have only been administered via subcutaneous (SC) injection.

Key Points: 
  • While these vaccines have a long history in the U.S., until now they have only been administered via subcutaneous (SC) injection.
  • In the U.S., the only measles, mumps, rubella, and varicella vaccines that can be administered IM are M-M-R®II, VARIVAX®, and ProQuad®.
  • Additionally, the MMRV family of vaccines has already been licensed for IM administration in the European Union.
  • “This approval provides our practice with an additional route of administration.”