Detroit Venture Partners wants its portfolio companies to move their operations to the heart of Detroit in the hopes of transforming the Motor City into a vibrant startup community like Boston and San Francisco, according to Xconomy Detroit.
International consulting firm PricewaterhouseCoopers says biotechnology companies must collaborate to produce more efficient and cost-effective medicines or face extinction in a new report called Biotech Reinvented.
The $120 million sale of three-hospital system Forum Health to Franklin, Tennessee-based Community Health Systems Inc. (NYSE:CYH) is expected to close sometime today.
Forum Health's $120 million sale to a for-profit Tennessee company appears to be nearly wrapped up now that Ohio's attorney general has given his blessing to the deal.
Ohio Attorney General Richard Cordray has promised to hold the for-profit health system that's buying Forum Health in Youngstown accountable to its charity care commitments in the Youngstown area.
Forum Health will reimburse the U.S. government about $2.9 million as a result of a coding mix-up that led to the Youngstown health system overbilling some Medicare patients. Forum, which recently agreed to be sold for $120 million to a Tennessee-based health system, voluntarily disclosed the overbilling problem to the government, a U.S. attorney told […]
A specialty drug is a class of prescription medications used to treat complex, chronic or rare medical conditions. Although this classification was originally intended to define the treatment of rare, also termed “orphan” diseases, affecting fewer than 200,000 people in the US, more recently, specialty drugs have emerged as the cornerstone of treatment for chronic and complex diseases such as cancer, autoimmune conditions, diabetes, hepatitis C, and HIV/AIDS.
The Ohio Nurses Association has objected to selling Forum Health out of bankruptcy court to Community Health Systems in suburban Nashville, Tennessee -- the 11th hour bidder that snatched the Youngstown, Ohio, health system from a privately owned hospital company last week. The nurses' union objected to selling Forum Health to Community Health Systems because it violates work agreements between the union and Youngstown health system, according to the Youngstown Vindicator. The association filed its objection electronically with the U.S. Bankruptcy Court Northern District of Ohio on Sunday, the newspaper reported.
Rumored for months, privately owned Nashville, Tenn. hospital company Ardent Health Services has won the bid for Forum Health, agreeing to pay $69.8 million to buy the Youngstown, Ohio, health system out of bankruptcy court. Ardent is buying Northside Medical Center, Trumbull Memorial Hospital, Hillside Rehabilitation Hospital, as well as Forum Health’s physician group, two […]
A union leader at Trumbull Memorial Hospital told the Warren Tribune Chronicle on Thursday his members aren't ''overly excited'' about the prospect of Nashville, Tenn.-based Ardent Health Services buying Trumbull parent Forum Health, which is reorganizing in bankruptcy court.
A sale of Youngstown's Forum Health, which is reorganizing under Chapter 11 bankruptcy protection, to Nashville, Tenn., hospital system Ardent Health Services hinges on successful negotiations with unions representing about 3,500 Forum workers, unnamed sources told the Tribune Chronicle.
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.
Ohio Gov. Ted Strickland called financially troubled Forum Health in Youngstown "a critically urgent situation," while three federal legislators appealed to President Obama for financial assistance for the bankrupt health-care agency.
One Cuyahoga County commissioner believes Mayor Frank Jackson should lower his $20 million asking price for city-owned land coveted for a medical merchandise mart and new convention center.
Trustees of Forum Health in Youngstown will decide during the next two weeks whether to sell part or all of their health system -- or reorganize its operations so it can emerge from bankruptcy court. The trustees will deliberate over bids for assets in private. The health system has said nothing yet about the bids, which were due Friday.
Community Health Partners announced cuts in jobs and workers hours, while union officials at Youngstown's Forum Health said they expect layoffs too.
Youngstown hospital system Forum Health is reorganizing under Chapter 11 of the federal bankruptcy code "in a strategic move to preserve choice and continuity of quality health care in the Mahoning Valley." The system cited a heavy debt load, population declines in its communities, the nation's economic recession and restrictive labor agreements as reasons for the bankruptcy filing.
