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Article: Quorum deal may bring sale or merger.(Brief Article)
- Article from:
- Modern Healthcare
- Article date:
- October 9, 2000
- Author:
CopyrightCOPYRIGHT 2000 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Quorum Health Group's announcement of a tentative civil fraud settlement with the U.S. Justice Department may help speed up a sale or merger of the company.
Quorum announced in August it had hired Goldman, Sachs & Co. to explore its strategic options, including a possible sale. Analysts have agreed the company's liability in the government's ongoing Medicare cost-reporting investigation was a significant hurdle for any deal.
"I think a movement toward resolution with the government certainly increases the likelihood that a sale could occur," said Frank Morgan, a Nashville healthcare analyst at Jefferies & Co., an investment bank. "Any buyer would want ...