A Michigan for-profit company known for taking over financially distressed hospitals was named in a bankruptcy filing as a possible purchaser of Delaware County's Crozer Health. Insight was founded by neurosurgeon Jawad Shah in Flint, Mich., and has since expanded to Chicago, where in 2021 it acquired a hospital for $1 from Trinity Health. Last fall, the company was picked by landlord Medical Properties Trust to take over two Ohio hospitals from bankrupt Steward Health Care.
Reports suggesting that a sale to private-equity firm Sycamore Partners was still in play boosted the stock last week. On Monday, credit-information provider Octus said on the social media platform X that "Morgan Stanley, UBS, and private lenders are structuring a $10 billion package to back Sycamore Partners' potential buyout," suggesting further progress toward a deal.
Atrium Health received a $45 million sales tax refund from North Carolina in 2023 and 2024, hitting a statutory limit allowed by the state for nonprofits, tax records reviewed by The Charlotte Ledger/NC Health News show. And that may not even be the full amount. Thanks to a legal loophole, the hospital system's total refund is likely even higher.
UnitedHealthcare is offering certain employees in its benefits operations unit the option to accept buyouts if they quit by March 3, following a tumultuous year for the insurance giant, CNBC has learned. Those who don’t accept the offer will continue in either their current role or a comparable position, two people familiar with the matter told CNBC. If the company does not meet a resignation quota through buyouts, it will lay off employees, the people said, citing an internal resource site.
Walgreens Boots Alliance Inc. shares soared after CNBC said that a take-private deal with private equity firm Sycamore Partners is still possible. The deal for the drugstore chain appeared "mostly dead a couple of weeks ago," CNBC's David Faber said Tuesday. He said he was now upgrading the deal to "alive." Walgreens shares gained as much as 15% in New York. They had risen 4% this year as of Friday's close. Reports emerged in December of a possible deal with Sycamore, which had earlier expressed interest in Walgreens' international unit. Bloomberg reported at the end of last month that Sycamore had been speaking with private credit firms about debt financing for a potential deal for Walgreens, according to people familiar with the matter. Faber had said Jan. 27 that the deal was "mostly dead."
A federal bankruptcy judge has allowed Prospect Medical Holdings' sale of two Rhode Island hospitals to keep moving forward, despite the company filing for Chapter 11 bankruptcy a month ago. Prospect owns Roger Williams Medical Center in Providence and Our Lady of Fatima Hospital in North Providence under the banner of CharterCARE. The Centurion Foundation, a Georgia nonprofit, is looking to buy the hospitals.