Hospital leadership changes...
PhillyDeals: Crozer sells realty for better balance sheet | Philadelphia Inquirer | 01/10/2010
No sure cure
Joseph W. "Chip" Marshall left the top job at Temple University Health System in 2008 after it ran up a $52 million fiscal-year operating loss. After he left, Temple said it would take the drastic step of closing Northeastern Hospital, to slow the financial bleeding.
Marshall is now in the deal-making business. A lawyer by profession, he's a new vice chairman at Reading law firm Stevens & Lee P.C., and also vice chairman of its King of Prussia investment-banking affiliate, Griffin Holdings Group L.L.C.
From his Philadelphia office, Marshall plans to win business in what Citigroup Inc. analyst Fred Hessler and others have predicted will be a wave of consolidation and reorganization of hospital systems after Congress passes insurance-reform legislation.
"This is a country that has not agreed to tax itself to meet the demands and expectations around health care," Marshall told me in his Market Street office. He doesn't expect President Obama's bill to end hospitals' funding problems.
"Hospitals are deferring maintenance; it's staggering," Marshall added. "The pressures on shrinking margins will increase. I think that will cause institutions to reassess where they are," closing, combining, reorganizing, and hiring deal-makers.
Lower Bucks Hospital CEO Cleveland resigns - Philadelphia Business Journal:
Austin Cleveland resigned Thursday as president and CEO of the financially struggling Lower Bucks Hospital.
The Bristol Township, Pa., medical center named Albert Mezzaroba as it new chief executive.
Mezzaroba, an attorney who had been working with the hospitalís board as a consultant, was previously executive director of the Pennsylvania Conventon Center Authority.
The medical center has operated as a independent facility for most of its 56 years. It was part of the Temple University Health System between 1997 and 2002. That relationship ended after Temple decided to focus on its core North Philadelphia hospitals.
Lower Bucks Hospital is expected to collect about $1 million a year in revenues under the legislation signed into law earleir this week allowing Pennsylvania casinos to add table games. The medical center would receive a percentage of the table game revenues from the Parx Casino in neighboring Bensalem.
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