October 30, 1990 |
Summit Health Ltd., a Burbank-based hospital and nursing home chain that was on the critical list a year ago, seems to be on the road to recovery. Last week Summit reported that its earnings in the first quarter that ended Sept. 30 soared 56% to $1.6 million from $1.1 million a year ago, while revenues dipped slightly to $92.8 million from $93.3 million. The reasons for the improvement aren't dramatic.
November 28, 1989 |
Summit Health Ltd., which operates 21 hospitals and 21 nursing homes and retirement centers, is seriously ill itself. The 12-year-old company lost $15 million in the past two years, piled up a mountain of debt and watched its stock plunge to $1.50 a share from $14 in 1985. What's the solution? Summit founder and Chairman Don Freeberg, and the rest of Summit's board, think that they found part of the answer last month in a 37-year-old numbers whiz named Donald J.