Rash, Rutledge surface with Alabama bid

By Geert De Lombaerde Posted on October 15, 2009 at 8:29 am

After a couple of quiet months, RegionalCare Hospital Partners, the latest venture headed by serial health care entrepreneur Marty Rash, has offered to buy an Alabama health system whose 2008 revenues fell short by $8 million and is tightening its belt big time.

The board has approved a $172 million budget for the fiscal year, which began July 1, and hospital administrators laid off between 65 and 70 full-time employees in July to reduce its personnel expenses.

Rash launched RegionalCare in July with fellow Province alum John Rutledge and $300 million in Warburg Pincus backing. Until now, the company had been conspicuously invisible.

SEE ALSO: Our recent story on the gathering hospital M&A wave

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Tags: acquisitions, Alabama, Coffee Health Group, hospital management, John M. Rutledge, Martin S. Rash, RegionalCare Hospital Partners Inc.  

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