October 30, 2018

Around the nation: LifePoint shareholders OK sale to Apollo

Daily Briefing

    However, more than 80% of LifePoint Health shareholders rejected an executive golden parachute proposal worth nearly $120 million, in today's bite-sized hospital and health industry news from New Jersey, Tennessee, and Wisconsin.

    • New Jersey: A ninth child has died from the adenovirus outbreak at the Wanaque Center for Nursing and Rehabilitation, according to the New Jersey Department of Health. Health officials who are closely monitoring the outbreak have confirmed 25 cases of the virus, but said there have been no new cases since Oct. 22 (Thielking, "Morning Rounds," STAT News, 10/29).

    • Tennessee: LifePoint Health shareholders on Monday approved a proposal to sell the rural hospital operator to affiliates of Apollo Global, a private equity firm. However, more than 80% of LifePoint shareholders voted against a golden parachute proposal that would offer LifePoint's four top executives nearly $120 million in golden parachutes. Apollo plans to merge LifePoint with rural hospital operator RCCH HealthCarePartners (Bannow, Modern Healthcare, 10/29).

    • Wisconsin: Wisconsin this month launched a 24-hour addiction recovery hotline called the Wisconsin Addiction Recovery Helpline. The confidential helpline will connect people who have substance use disorders to treatment and counseling resources at no cost. The helpline is funded by a $400,000 grant from the Substance Abuse and Mental Health Services Administration (AP/Sacramento Bee, 10/27).

    Next, learn how mega-mergers could impact your organization

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