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BUSINESS
April 20, 1987
The Nashville-based firm said the offer of $47 a share by two former executives of Republic Health Corp., Charles Miller and Richard Ragsdale, and attorney Richard Scott was not in the company's best interests. Miller is an associate of LeRoy Pesch, the Chicago physician whose recent $1.9-billion bid for another hospital chain, American Medical International, was rebuffed.
BUSINESS
August 4, 1987
Samissa Health Care Corp., Newport Beach, has acquired six psychiatric hospitals by buying out its joint venture partner, Republic Health Corp., for $14.7 million. The six hospitals had operating revenues of $16 million in 1986. Samissa is also leasing six other mental health hospitals from troubled Dallas-based Republic, which is restructuring and recapitalizing after a leveraged buyout last August. The 12 hospitals are located in seven states, including California.
BUSINESS
November 8, 1988
Blue Cross of California has completed its sale of Takecare, a 10-year-old health maintenance organization. Blue Cross, based in Woodland Hills, sold Takecare for an undisclosed price to an investor group led by Jack Anderson and Richard Burdge. Previous reports have placed the price at $40 million to $45 million. Anderson was an executive of Hospital Affiliates International and Republic Health Corp.
CALIFORNIA | LOCAL
August 8, 1991
Gardena Memorial Hospital, a 200-bed acute care facility, was sold this month to Century MediCorp for $6.7 million by Republic Health Corp., officials said. Century MediCorp is a Pasadena-based health maintenance organization that operates AmeriMed in Los Angeles and San Diego counties, Loma Linda Health Plan in San Bernardino and Riverside counties and VIP Health Plan in Ventura County. The company, which serves more than 105,000 members, also operates East Los Angeles Doctors Hospital.
BUSINESS
August 20, 1986
Republic Health Corp. of Dallas, which in March became the largest privately held hospital management company after stockholders approved a $406.2-million leveraged buyout, is the subject of an insider trading investigation by the Securities and Exchange Commission. Republic said the investigation was launched March 5 "into trading in securities of Republic" from Jan.
NEWS
March 21, 1985
Jack Manley, a health administrator with 27 years of experience, has been appointed chief executive officer of Alhambra Community Hospital. The appointment is the result of a two-month search by Republic Health Corp., which hospital trustees signed to a five-year management contract in an effort to improve a low patient occupancy rate of about 30%. Republic, based in Dallas, owns and/or manages 60 hospitals and health care facilities across the country.
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