Printer Friendly

MEMORIAL HEALTH SERVICES ANNOUNCES FORMATION OF FOR-PROFIT DIVISION

MEMORIAL HEALTH SERVICES ANNOUNCES FORMATION OF FOR-PROFIT DIVISION
 LONG BEACH, Calif., Nov. 5 /PRNewswire/ -- Recognizing the changing dynamics of the health care industry and the changing demand for a more efficient, cost-effective health care system, Long Beach- based Memorial Health Services (MHS) has announced the expansion of a for-profit division, Memorial Health Technologies (MHT). The new division will report to and operate under the authority of Memorial Health Services.
 Thomas Collins, Ph.D., has been named president of MHT, and will have management responsibility for eight free-standing, for-profit companies owned by Memorial Health Services that will make up the new MHT division. Collins, who has been with MHS for 10 years, is currently senior vice president for corporate and commercial services.
 "We are streamlining Memorial Health Services from delivering strictly hospital services to meet employers' demands, accommodate and respond to the government regulations and to provide more cost- effective, quality service to our patients. We are listening and responding to the changing environment," Collins said. "By expanding this corporation we will be better positioned to maintain the preeminent position of Memorial Health Services as a major leader in the delivery of health care services in the western United States."
 Collins said that it has become clear there is strong public, employer and government desire to have the convenience of pre-paid health plans in addition to the traditional fee-for-service plans. The eight companies under the MHT banner will include Healthcare Management Systems, the Memorial Senior Companion Plan, LIFEFLIGHT air ambulance and Pacific Coast Imaging Centers, among others. These companies generated profits of $1.3 million on gross revenue of $18 million during the last fiscal year.
 "The nature of delivering health care services has evolved to the point where the focus is not the hospital bed but rather the demand is more toward alternative settings such as outpatient services, managed care activities and other related changes," Collins said. "Memorial Health Services is evolving with the entire health care industry to an integrated system of home care, data collection analysis, and more cost-effective and competitive delivery of health services. We (MHS) are listening and responding to the demands."
 A Long Beach native, Collins holds both bachelor's and master's de grees from California State University, Long Beach, and holds a doctorate from the University of Southern California. He maintains close relationships with the academic community and is a frequent lecturer in the area of health care policy and finance.
 Memorial Health Services, which had gross revenues of $689 million in fiscal year 1992, is also the parent corporation to Long Beach Memorial Medical Center and Saddleback Memorial Medical Center in Laguna Hills.
 -0- 11/5/92
 /CONTACT: Ron Yukelson of Long Beach Memorial Medical Center, 310-933-2853/ CO: Memorial Health Services; Memorial Health Technologies;
 Long Beach Memorial Medical Center ST: California IN: HEA SU:


BP-EH -- LA034 -- 7955 11/05/92 17:13 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Nov 5, 1992
Words:479
Previous Article:GE CAPITAL CANADA'S TIP DIVISION PURCHASES TRAILER ASSETS OF INTERCAN LEASING INC. OF CANADA
Next Article:CITIBANK STUDENT LOAN UNIT FILES REGISTRATION STATEMENT
Topics:


Related Articles
CITRUS MEMORIAL HOSPITAL TO INITIATE NURSING REVIEW
QUORUM AFFILIATE ANNOUNCES COMPLETION OF ACQUISITION OF MARY BLACK MEMORIAL HOSPITAL OF SPARTANBURG THROUGH JOINT VENTURE
QUORUM AFFILIATE ACQUIRES WILLIAMSBURG COUNTY MEMORIAL HOSPITAL, KINGSTREE, S.C.
Memorial Health Services and PacifiCare Sign Unprecedented 10-Year Agreement
Underwood-Memorial Hospital and Jefferson Health System Announce Agreement to Collaborate
The Sisters of Charity of St. Augustine Health System and University Hospitals Health System Form New Canton Healthcare Entity.
The Sisters of Charity of St. Augustine Health System and University Hospitals Health System Form New Cleveland Healthcare Entity.
Rev. Rul. 98-15's impact: Columbia/Arlington venture unwound.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters