Community Health Taps Into Junk-Bond Frenzy to Tame Debt
Bloomberg 1/19/2021 Paula Seligson
(Bloomberg) Community Health Systems Inc., the debt-laden hospital chain that’s been staging a comeback, has more than doubled the size of a bond offering as it takes advantage of some of the lowest yields ever for speculative-grade issuers.
After strong recent earnings results, the company is using the momentum to refinance a high coupon and push out maturities.
Community is selling a $1.8 billion high-yield bond maturing in 2029 and announced a related tender offer Tuesday. The bond offering’s size was increased from $750 million due to strong demand from investors.
5 Things Texas: Future of TX Medicaid, 2021-23 budget, Chris Murray DJ Wilson | Jan 14, 2021
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We are gearing up for our 2021 Texas State of Reform Health Policy Conference coming up on Feb. 4th. Because our agenda is full of the most important conversations taking place in Texas health care, it should be no surprise that some of those conversations are things we’re featuring in this month’s newsletter.
So, we’d love to have you with us and some of Texas’s most important health care voices at this year’s event! You can get registered before pricing goes up in eight days time…
Health Management Associates Launches Institute on Addiction
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LANSING, Mich., Jan. 14, 2021 /PRNewswire/ Health Management Associates (HMA) announced today creation of the HMA Institute on Addiction (IOA), a division dedicated to supporting the national effort to build an evidence-based, patient-centered, and sustainable addiction treatment ecosystem.
HMA is home to some of the nation s foremost addiction experts. The IOA brings together HMA s vast and varied experience and expertise across all healthcare sectors into a one-stop shop for those in need of addiction consulting services. HMA is uniquely positioned to contribute to the addiction crises response in the United States, and we are committed to doing so, said Doug Elwell, chief executive officer of HMA. Our expertise spans the healthcare spectrum, and the real-world experience of our experts has been decades in the making. The Institute on Addiction pulls all o
Hospital operator also raises $2.8B to buy back ’23 debt
Tim Hingtgen
The directors of Community Health Systems last week formally tapped President and COO Tim Hingtgen to succeed Wayne Smith as the company’s CEO, giving him a $200,000 bump in pay along the way.
Hingtgen, 52, has been with CHS since 2008. He was named a division president in 2014 and two years later was first named executive VP of operations and then COO, setting him up as the man to follow Smith as CEO. In that job, which he’ll take on Jan. 1, Hingtgen will receive a base salary of $1.2 million versus the $1 million he was being paid this year.
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