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Business Observer Friday, Dec. 30, 2005 15 years ago

Regional Round Up

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Health Management Buys Georgia HospitalChico's FAS Inc. updates Conference ScheduleGevity reaches milestone in neutrality strategyTime to register for Venture Capital ForumPlans unveiled for marina at Tarpon PointHurricane damage estimated at double previous recordSpeaking of CEOs
by: Adam Hughes Staff Writer

Regional Round Up

Health Management

Buys Georgia Hospital

Naples-based Health Management Associates Inc. announced an agreement to acquire St. Joseph Hospital in Augusta, Ga. The execution and closing of the purchase agreement are subject to the review and approval.

St. Joseph Hospital is a fully accredited, general acute-care hospital operating 231-licensed beds. St. Joseph Hospital generates approximately $65 million in annual net revenue.

HMA operates non-urban general acute care hospitals in communities situated throughout the United States. Upon completion of the transaction to acquire the 231-bed St. Joseph Hospital and the previously announced transactions to acquire a controlling interest in the 84-bed Orlando Regional St. Cloud Hospital and the 56-bed Barrow Community Hospital, HMA will operate 61 hospitals in 16 states with approximately 8,912 licensed beds.

Chico's FAS Inc. updates

Conference Schedule

Fort Myers-based Chico's FAS Inc. announced its management will deliver presentations at the SG Cowen & Co. LLC Fourth Annual Consumer Conference, at the Eighth Annual ICR XChange and at the NYSE and Prudential Equity Group Growth Conference in January 2006. The presentation at ICR XChange is scheduled for 4:05 p.m. Jan. 12 at the Ritz-Carlton in Naples.

A webcast of each presentation will be available. To access any of the webcasts, go to the Investor Relations section on the Chico's FAS, Inc. website at chicos.com and click on the appropriate presentation button. These presentations will address the company's growth strategies and provide a review of historical data.

Gevity reaches milestone

in neutrality strategy

Gevity, a provider of a comprehensive insourced employee management solutions, announced it reached a milestone in pursuit of its insurance neutrality strategy. Bradenton-based Gevity renewed its primary workers' compensation agreement for 2006 with member companies of American International Group Inc. (AIG). In addition, through a new reinsurance arrangement, the company reduced its per-occurrence deductible to $500,000.

Time to register

for Venture Capital Forum

The 15th Annual Florida Venture Capital Conference presented by the Florida Venture Forum for venture capitalists, private equity investors, investment bankers and high growth private Florida companies, is accepting registrations for the 2006 event that will be held Jan. 31 and Feb. 1, 2006 at the Sawgrass Marriott Resort & Spa in Ponte Vedra Beach. The conference will showcase 25 later stage, high growth private companies before an estimated 1,100 attendees, including a record 170 venture capitalists. Other conference highlights include seminars and in-depth panel discussions on various aspects of the venture capital industry. For any questions regarding the Conference, please email Robin Kovaleski, the Forum's executive director, at [email protected], or call (813) 335-8116.

Plans unveiled for marina

at Tarpon Point

Plans have been unveiled for MarinaVillage at Tarpon Point, announced Nick Cross, sales and marketing director of Grosse Pointe Development Co. Inc., the community's developer.

MarinaVillage will be a commercial, residential and retail center within Tarpon Point Marina that will be open to the public. Sales for the condo/hotel, The Resort at MarinaVillage. will be released during an event open to the public Jan. 14. �The event will begin at 11 a.m. with private drawing beginning at 1 p.m. �Buyers can pre-register for the event at www.tarponpoint.com.

The Resort at MarinaVillage will feature two 19-story luxury buildings overlooking the marina and the Caloosahatchee River with two- and three-bedroom condo/hotel suites ranging from 1,225 to 2,225 square feet.

Hurricane damage estimated

at double previous record

Hurricanes Katrina, Rita and Wilma may cost insurers $57.6 billion, more than double the annual record for U.S. natural disasters, a consulting firm said.

Katrina may cost $40.4 billion, before taxes; Rita, $6.4 billion; and Wilma, $10.8 billion, New York-based Advisen Ltd. said in a statement. The figure includes Advisen's projection that State Farm Mutual Automobile Insurance Co. and other privately owned insurers have yet to report roughly $5 billion in claims.

The estimate falls between earlier projections by storm modeler Risk Management Services Inc., which predicted as much as $79 billion in losses, and Property Claim Services Inc., which forecast $45.2 billion. Risk Management uses computers to gauge losses, and Property Claim surveys insurers as claims come in.

After Katrina, which struck the U.S. Gulf Coast on Aug. 29, rates on commercial property insurance began rising around the world, according to insurers, including American International Group Inc., the world's largest by market value.

The price increases follow a year of declines spurred by increased competition and swollen profits.

Speaking of CEOs

Dean Akers, CEO of Tampa-based Ideal Image Inc., a laser hair removal chain, recently became chairman of the CEO Council of Tampa Bay Inc.

Other board members are first vice chair, Kevin Hourigan, president and CEO of Bayshore Solutions; secretary/treasurer, Mark Anderson, CEO of eLogic Learning; vice chair of relationships, Dick Lange, president and CEO of Hillsboro Printing; vice chair of member recruitment, Penny Hulbert, area president of RBC Centura Bank; vice chair of member retention, Oscar Horton, CEO of Sun State International Trucks LLC; vice chair of branding and communication, Michael Gilbert, general manager of Marketing Associates USA Inc.; vice chair of sponsorships, Andrew Cohen, CEO of Vertical IT Solutions; vice chair of roundtables, Alan Bridges, CEO of Allpoints Equipment Co.; vice chair of strategic and succession planning, Guy King, president of M.E. Wilson Insurance Co.; and chairman emeritus, Chris Pfeifer of Tice Financial Services.

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