![]() ![]() Steward has asked San Antonio-based University Health System and Bexar County to take over the troubled hospital. San Antonio-based Texas Vista Medical Center, part of Dallas-based Steward Health Care, is set to close May 1, barring a takeover or significant relief package. Texas Hospital Set To Close, Asks University Health To Take Over Revenue rose 5.5% to $15.7 billion and investment losses reached $1.16 billion. AdventHealth suffered a $837.92 million net loss for 2022, compared with a $1.51 billion gain the prior year. (Hudson, 3/1)ĪdventHealth Reports $839M Net Loss For 2022Ī spike in operation expenses fueled by labor costs weighed down AdventHealth's financial performance last year, the nonprofit health system reported Tuesday. Operating expenses jumped 13.6%, or by nearly $1.5 billion, to $12.45 billion, including a 13.8% rise in salaries and wages and a 13.7% jump for pharmaceuticals. The Ohio-based organization reported a $1.25 billion net loss in 2022, compared with a $2.21 billion gain in 2021, according to unaudited results released Wednesday. 19, 2021-three days after he began trading-that Cigna cut ties with Ontrak, the stock dropped 45%. (Michaels, 3/1)Ĭleveland Clinic Reports $1.25B Net Loss For 2022 Peizer sold about 641,000 shares of Ontrak stock when he was aware of the undisclosed bad news, according to the Securities and Exchange Commission, which also sued him. as a major customer, according to a federal grand-jury indictment unsealed Wednesday. Ontrak Chief Executive Terren Peizer set up the prearranged trading plans in May and August 2021, just before his company disclosed the loss of health insurer Cigna Corp. Healthcare CEO Faces Charges Of Making Illicit Stock Sales In Prearranged Trades Ontrak Chairman and CEO Terren Peizer sold more than $20 million of Ontrak stock between May and August 2021 while in possession of material non-public negative information related to the company's largest customer, authorities said. authorities on Wednesday charged the head of the health care company Ontrak Inc with insider trading, marking the first criminal case involving the use of a special trading plan designed to help shield executives from such charges. US Authorities Charge Healthcare Company Ontrak's Boss With Insider Trading A lawyer for Peizer insisted the CEO is innocent and said "the government has clearly overreached in this case." Terren Peizer, chairman and CEO of Ontrak, a telehealth provider, is accused of selling millions of dollars worth of company stock just before his company disclosed the loss of Cigna as a major customer, news outlets report. In First-Of-Its-Kind Case, Health Care CEO Charged With Insider Trading ![]()
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