Vencor is bruised by government health-care changes
Article Abstract:
Vencor Inc. said earnings for the rest of 1998 and for 1999 would be below analysts' expectations. Vencor Inc. was hit hard by changes in government health-care programs such as Medicaid and Medicare.Vencor may have paid to much for two businesses last summer, which both now face Medicare cuts. Vencor has indefinately postponed the building of a 25-story office building in downtown Louisville. The company will lay off 1,000 employees about 1% of its work force.
Comment:
Earnings are expected to be below analysts' expectations for the rest of 1998 and for 1999
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
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Vencor co-founder Lunsford resigns, saying company has outgrown him
Article Abstract:
W. Bruce Lunsford announced his resignation from Vencor Inc. although he will remain the chairman of the real estate side of the business, Ventas Inc. Lunsford and a co-founder started the specialty hospital chain in 1985. After acquiring Hillhaven in 1995, things began to take a turn that Lunsford feels could be best handled by someone else. His successor as chairman and CEO will be Edward L. Kuntz, hired in Novembers as COO with this opening in mind.
Comment:
Lunsford steps aside for Edward L. Kuntz
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1999
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Vencor expects per-share loss of 10 to 15 cents
Article Abstract:
Vencor Inc. announced that it is expecting to post a 10 cents to 15 cents loss per share during the second quarter of 1998. The company had previously told Wall Street that it expected to post a small profit for the quarter. Vencor, a hospital and nursing home firm, expects to report its second quarter results on July 28, 1998. The company had expected to post quarterly earnings of three to five cents per share.
Comment:
Vencor Inc. expecting to post a 10 cents to 15 cents loss per share during the second quarter of 1998
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
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