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RAPID ASSESSMENT

About Amy Umble:
Amy Umble is health reporter for The Free Lance-Star

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You too can own a hospital

The Spotsylvania Regional Medical Center

A few brief items this morning:

It looks like you’ll soon be able to buy an ownership share of the Spotsylvania Regional Medical Center. The hospital’s parent company, HCA Inc.,  this week filed a preliminary prospectus with the Securities and Exchange Commission to become a public corporation again. It wants to sell124 million shares of stock. The initial price of the stock is expected to be between $27 and $30 per share. At $3.5 billion, the stock offering is said to be the largest ever.

HCA is a privately held company, based in Nashville. HCA operates 164 hospitals and 106 freestanding surgery centers, including the new hospital in Spotsylvania. The stock will trade on the New York Stock Exchange, beginning next month.

This is the third time that HCA has become a public company. The first time was in 1969. It went private, then reemerged as a public company in 1992. In 2006, investors took it private again with a $21 billion buyout.

The Mary Washington Healthcare Board of Trustees has added two new members: William Boldon and John McKeown.

Boldon was elected to the board in January. He filled the position left by Rev. Allen Fisher, whose term expired in December. Boldon is a retired administrative partner of McKinsey & Company, an international consulting firm.

McKeown was elected to the board in November. He filled the position left by John Burrow.  McKeown is a private consultant, specializing in executive management and engineering.  He has more than 40 years experience in systems engineering, aircraft design and digital systems with the Navy and Sikorsky Aircraft.

The Lloyd Moss Free Clinic will be offering free flu shots tomorrow. The Fredericksburg clinic has 250 shots that it will distribute Saturday, from 10 a.m. to 2 p.m. The shots will be offered on a first-come, first- served basis to anyone 19 or older. You do not have to be a clinic patient to get a shot.

Nursing students from George Mason University will be on hand to help with the shots. They also will do free screenings, including blood pressure checks and blood sugar testing.

Permalink: http://news.fredericksburg.com/rapidassessment/2011/02/25/you-too-can-own-a-hospital/

  • Billabong

    Jim, here is an assignmenmt for you. investigate and report on the process for “electing” board members. did you know that the CEO casts the votes for any of the MWH health council’s (or whatever that 1 to 2 thousand member group that pay 2 dollars to join and elects board members) membeers that do not cast a vote? Since the majority of these never vote, the CEO in effect appoints and confirms whoever he wants on the board. Does this sound like a conflict of interst to you? Remember the article you wrote on MWH Hosp executive salaries, hmmm … sounds like there might be a srory there for an eager beaver journalist. Who will accept the challenge?

  • Ekaterinberg

    Would make one h*** of a story but doubt FLS would want to ruffle a major advertisers feathers. I imagine they keep Hall on a very tight leash.

  • Jasmine

    There are doctors on the board that belong to groups thst have exclusive contracts with the hospital – isnt that a conflict of interest? Are these docs going to challenge the CEO when he is the one that can terminate their job by not renewing their contract? The President of the medical staff is a hospital paid position. The docs used to elect anyone they wanted to represent them. Now a single candidate is chosen by MWH admin and an “election” is held – its like the old Soviet Union. The current and former medical staff presidents currently sit on thr board. Is that oversight? There is a real story in all this thst the public should knoe about.