Talk about an employee bonus.
Robert A. “Bobby” Frist Jr., CEO of health IT vendor HealthStream and a scion of Nashville, Tenn., business royalty, is contributing $1.5 million worth of personally owned shares in the company to nonexecutive employees.
More than 600 employees are eligible to receive shares because they have been with HealthStream for at least a year, do not hold executive or vice-presidential positions and have not previously been granted equity by management, the company said. That group, representing about 60 percent of HealthStream’s total workforce, will receive their shares in late August.
With the Rise of AI, What IP Disputes in Healthcare Are Likely to Emerge?
Munck Wilson Mandala Partner Greg Howison shared his perspective on some of the legal ramifications around AI, IP, connected devices and the data they generate, in response to emailed questions.
“I am excited to make this contribution to allow many of our employees who have not previously participated in our equity programs to experience a feeling of shared equity in the company and become financial stakeholders in the future success of HealthStream,” Frist said in a company statement. “I am humbled by our employees’ visionary drive and hard work over the years that are making a difference in healthcare. For those that have been on this journey, I want to recognize their service with this expression of my appreciation.”
Frist, the grandson of late HCA founder Dr. Thomas Frist Sr. and nephew of former U.S. Senator Bill Frist (R-Tenn.), gave 49,310 HealthStream shares for this bonus program. At Tuesday’s closing price of $30.42, those shares are worth a hair above $1.5 million.
Frist contributed an additional 4,931 shares, valued at about $150,000, to cover HealthStream costs related to the transaction.
Wall Street greeted the news with a yawn, as HealthStream stock is essentially flat on Wednesday.
A Personalized Approach to Medication Nonadherence
At the Abarca Forward conference earlier this year, George Van Antwerp, managing director at Deloitte, discussed how social determinants of health and a personalized member experience can improve medication adherence and health outcomes.
