Wednesday, May 9, 2012

Top Healthcare Prospector New for Week Ended May 5, 2012

Alliance HealthCare Services, Inc., has announced that Paul S. Viviano, chairman of the board and chief executive officer of the company, has resigned to be effective in June, 2012. Larry C. Buckelew has been named chairman of the board and interim chief executive officer, to be effective immediately upon Mr. Viviano’s departure. Mr. Viviano is leaving the company to accept the position of associate vice chancellor for health sciences at the University of California, San Diego and chief executive officer of the UCSD Health System. Alliance also announced that Michael J. Shea has joined the company as chief operating officer effective June 4, 2012.

Health Care REIT, Inc., has completed the acquisition with Chartwell Seniors Housing REIT of 42 seniors housing and care communities in attractive Canadian markets, which was previously announced on Feb. 15, 2012. Thirty-nine of the properties are owned 50% each by the company and Chartwell. The company wholly owns the remaining three properties. Chartwell will manage the communities under an incentive-based management contract. The portfolio, comprised primarily of independent living residences, closed on May 1. The purchase price was $936.5 million. The company's share of the purchase price was $509.5 million.

Universal Health Services, Inc., has signed a definitive agreement to sell Auburn Regional Medical Center, a 213-bed acute care hospital located in Auburn, Washington. The hospital will be sold to MultiCare Health System, a regional not-for-profit integrated health system based in Tacoma, Washington. The Company expects the sale proceeds to be approximately $98 million, including estimated net working capital, which will result in a substantial gain on the sale. The transaction is subject to customary regulatory approvals and closing is expected to occur by September 2012.

Brookdale Senior Living, Inc., reported a net loss of $10.3 million on total revenues of $683.5 million for the first quarter ended March 31, 2012, compared with a net loss of $12.3 million on revenues of $586.9 million for the comparable period in 2011. The Company's balance sheet at March 31, 2012, reflected total assets of $4.58 billion, total liabilities of $3.54 billion and stockholders' equity of $1.04 billion.

HCA Holdings, Inc., reported net income of $639.0 million on revenues of $8.41 billion for the first quarter ended March 31, 2012, compared with net income of $334.0 million on revenues of $7.41 billion for the comparable period in 2011.  The Company's balance sheet at March 31, 2012, reflected total assets of $27.14 billion, total liabilities of $34.46
billion and total deficit of $7.32 billion.

National Health Investors, Inc., announced it has entered into an amended $320 million unsecured credit facility that includes $120 million of combined 5-year and 7-year term loans that were drawn immediately at closing to pay down revolving credit borrowings and for other corporate purposes. The facility also includes an uncommitted incremental facility feature allowing for an additional $130 million of total borrowings.

Vanguard Health Holding Company II, LLC, a subsidiary of Vanguard Health Systems, Inc., entered into an Incremental Commitment Agreement with Citicorp North America, Inc., JPMorgan Chase Bank, N.A., Royal Bank of Canada, Wells Fargo Bank, N.A., and Bank of America, N.A., as Administrative Agent, Swingline Lender and Issuing Lender, pursuant to which the Incremental Revolving Lenders agreed to provide additional revolving loan commitments that increased the borrowing capacity under the Company’s senior secured revolving credit facility from $260 million to $365 million.

Moody's Investors Service commented that Tenet Healthcare Corporation's offering of $141 million of senior secured notes due 2018 are rated B1 (LGD 3, 39%). Tenet's offering of $150 million senior unsecured notes due 2020 have been rated Caa1 (LGD 5, 87%).

Emeritus Corporation reported a net loss of $19.4 million on total operating revenues of $323.0 million for the first quarter ended March 31, 2012, compared with a net loss of $22.7 million on total operating revenues of $300.2 million for the comparable period in 2011. The Company's balance sheet at March 31, 2012, reflected total assets of $2.80 billion, total liabilities of $2.53 billion and total shareholders' equity of $266.6 million.

Abraham, Fruchter & Twersky, LLP has commenced an investigation into possible violations of federal securities laws on behalf of purchasers of the common stock of Assisted Living Concepts, Inc.

The Healthcare Prospector identifies healthcare providers and other healthcare entities in transition.  Coverage includes hospitals, nursing homes, long-term care facilities, physician's medical groups, ambulatory care and outpatient centers, mental health facilities, healthcare real estate investment trusts (REITs), and medical laboratory and diagnostic imaging services.  The Prospector is designed to support the marketing programs of professional firms and aid investors in identifying new opportunities and risks with profiles of entities that meet predetermined criteria.  Information is compiled weekly and the Prospector is distributed by email every Sunday evening to arrive before 9:00 A.M. every Monday.  For each business identified, the Prospector provides the trigger event and enough information to assess the prospect and make an initial evaluation of the opportunity.  The Healthcare Prospector is published by Beard Group, Inc. (http://beardgroup.com).

Information is provided by the Healthcare Prospector. For more information please follow this link http://www.healthcaredatadepot.com/healthcareProspector.php Healthcare Prospector identifies healthcare providers and other healthcare entities in transition. Coverage includes hospitals, nursing homes, long-term care facilities, physicians' medical groups, ambulatory care and outpatient centers, mental health facilities, healthcare real estate investment trusts (REITs), and medical laboratory and diagnostic imaging services.