Dallas County commissioners have approved a Nov. 4 bond election for a new $1.2 billion Parkland Memorial Hospital. If the measure is approved, up to $747 million in tax and revenue bonds will be issued to help pay for the new hospital. The rest will come from cash that Parkland will put up as well as charitable donations.
The new Parkland, if approved by voters, would be the largest hospital built in the nation in years, officials have said.
Thirty-two delegates from 26 Nashville-area organizations are getting ready for a healthcare trade mission to Germany and Sweden sponsored by the Nashville Health Care Council and the Nashville Area Chamber of Commerce. In meetings and tours scheduled over six days, organizers said they hope to sell Nashville and build relationships overseas.
The Illinois Health Facilities Planning Board has approved Advocate Health Care's purchase of Condell Medical Center in Libertyville. Advocate announced in May it intended to purchase Condell for $180 million, expanding Advocate's reach deeper into Lake County. Advocate still needs to get formal approval for the purchase from the Illinois Finance Authority and the Centers for Medicaid and Medicare Services.
Harvard Vanguard Medical Associates, the largest physicians practice in Massachusetts not affiliated with a hospital, says it has been able to free up about $15 million that was set aside as collateral for a line of credit with Bank of America Corp. The group said it no longer has to keep the cash on hand to secure a $32 million line of credit with the bank, giving it greater flexibility as it looks to invest $30 million annually in facilities and equipment over the next five years.
Despite protests about a new law designed to crack down on gifts to doctors, several Massachusetts life sciences companies say they remain hopeful the regulations can be implemented in a way that doesn't hurt their ability to work with physicians. The law requires pharmaceutical companies and medical device makers to publicly disclose gifts and payments of more than $50 to healthcare professionals and places a ban on certain gifts. It also directs the Department of Public Health to draft extensive regulations restricting companies' marketing practices, using the national pharmaceutical industry's own voluntary "code of conduct" as a starting point. But in a letter addressed to lawmakers, Gov. Deval Patrick said the new rules are not intended to force companies to disclose confidential information, impede medical research, or block the training of healthcare providers.
The Cleveland Clinic is putting drug-coated stents from multiple suppliers in its cardiologists' hands for the next year, but it appears industry heavyweight Boston Scientific Corp. isn't in the mix. As a renowned heart hospital, the Cleveland Clinic lends much gravitas to suppliers who win contracts there. In late 2006, Cleveland Clinic signed an 18-month deal that made Boston Scientific a "preferred vendor" at a time when Johnson & Johnson had the only other coated stent available in the U.S. market. After a nearly four-year drought, more devices are now competing for doctors' attention, and multiple companies will be supplying the Cleveland Clinic for the next year now that the Boston Scientific contract has expired, said Clinic representatives.