July 13, 2014 3:15 AM ET

Healthcare Providers and Services

Company Overview of Capella Healthcare, Inc.

Company Overview

Capella Healthcare, Inc., through its subsidiaries, provides general and specialized acute care, outpatient, and other medically necessary services in the United States. Its hospitals offer various general acute care services, including, internal medicine, general surgery, cardiology, oncology, orthopedics, neurology, diagnostic, and emergency services, as well as women’s services. The company’s hospitals also provide tertiary services, such as open-heart surgery; and outpatient and ancillary healthcare services comprising outpatient surgery, laboratory, home health, radiology, respiratory therapy, and physical therapy, as well as operate psychiatric, skilled nursing, and rehabilitation beds...

501 Corporate Centre Drive

Suite 200

Franklin, TN 37067

United States

Founded in 2005

4,220 Employees

Phone:

615-764-3000

Fax:

615-764-3030

Key Executives for Capella Healthcare, Inc.

Chief Executive Officer
Age: 49
Co-Founder and Executive Chairman
Age: 56
Co-Founder and Executive Vice President of Acquisitions & Development
Age: 54
Co-Founder
Age: 65
Chief Financial Officer
Age: 52
Compensation as of Fiscal Year 2014.

Capella Healthcare, Inc. Key Developments

Capella Healthcare Hires Marcie Mofield as Director of Clinical Documentation Initiatives

Capella Healthcare announced that Marcie Mofield has assumed a new position as director of clinical documentation initiatives, joining capella from CHS where she previously served the company as PHIIP director with responsibility for up to 64 facilities. She is a graduate of Tennessee State University with an Associate in Nursing along with Board Examination and CCDS credentials.

Capella Healthcare, Inc. Enters into Certain Amendment No. 3 to Loan and Security Agreement

On June 3, 2014, Capella Healthcare, Inc. entered into that certain amendment No. 3 to loan and security agreement, by and among the company, the borrowing subsidiaries signatory thereto, the guarantying subsidiaries signatory thereto, the lenders party thereto and Bank of America, N.A. as agent for the lenders. The ABL amendment amends that certain $100,000,000 loan and security agreement, dated as of June 28, 2010, by and among the company and certain borrowing subsidiaries as borrowers, certain guarantying subsidiaries as guarantors, certain financial institutions party thereto from time to time as lenders and Bank of America, N.A. as agent for the lenders. The ABL amendment extends the maturity date of the revolving credit commitments under the ABL agreement from December 29, 2014 to the earlier to occur of June 3, 2019 or April 1, 2017, if, as of such date, the senior notes have not been repaid in full or refinanced on terms reasonably satisfactory to Bank of America, N.A. Additionally, the ABL Amendment amends the ABL Agreement to, among other things, reduce the applicable margin for LIBOR revolver loans from 3.00% to 1.50% per annum when the fixed charge coverage ratio is greater than 1.75 to 1.00, from 3.25% to 1.75% per annum when the fixed charge coverage ratio is greater than or equal to 1.25 to 1.00 and less than or equal to 1.75 to 1.00 and from 3.50% to 2.00% per annum when the fixed charge coverage ratio is less than 1.25 to 1.00; reduce the applicable margin for base rate revolver loans from 2.00% to 0.50% per annum when the fixed charge coverage ratio is greater than 1.75 to 1.00, from 2.25% to 0.75% per annum when the fixed charge coverage ratio is greater than or equal to 1.25 to 1.00 and less than or equal to 1.75 to 1.00 and from 2.50% to 1.00% per annum when the fixed charge coverage ratio is less than 1.25 to 1.00; reduce the unused line fee from 0.50% to 0.25% per annum when the average facility usage for a given month is greater than or equal to 50% of the aggregate commitments and from 0.75% to 0.375% per annum when the average facility usage for a given month is less than 50% of the aggregate commitments; and revise certain obligations on terms more favorable to, and to generally allow greater operational flexibility for, the company and the other borrowers, including without limitation amendments to the terms in respect of certain trigger periods, the ability to include certain provider tax-related receivables in the borrowing base, certain reporting obligations, certain healthcare-related representations and warranties, certain events of default, certain financial covenants and certain restrictions on liens, sale leaseback transactions, acquisitions, dispositions, distributions, investments, prepayments of subordinated debt, fundamental changes and affiliate transactions.

Capella Healthcare, Inc. and Capella Holdings Inc. Announces Board Changes

On and effective as of May 19, 2014, in accordance with the terms of that certain Stockholders Agreement, dated as of May 4, 2005, as amended, by and among Capella Holdings, Inc. and the investors named therein, J. Thomas Anderson was removed from the Board of Directors of both Holdings and Capella Healthcare, Inc. because he ceased to be employed by Holdings, the Company or their subsidiaries. In connection with Mr. Anderson's removal and in accordance with the terms of the Stockholders Agreement, Michael A. Wiechart was elected to the Board of Directors of both Holdings and the Company on and effective as of May 19, 2014. As of the time of this disclosure, Mr. Wiechart has not been, and is not expected to be, named to any committees of the Board of Directors of either Holdings or the Company. Mr. Wiechart, age 48, currently serves as President and Chief Executive Officer of the Company. Mr. Wiechart previously served as Senior Vice President and Chief Operating Officer of the Company from May 2009 to January 2014.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
January 14, 2014
SP Acquisition Corp.
 

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