On Thursday, Shares of Tenet Healthcare Corp. (NYSE:THC), gained 12.24% to $56.21.
Baptist Health System and Tenet Healthcare Corporation, have signed a definitive agreement to create a joint venture that will operate a healthcare network serving Birmingham and central Alabama. The new network will comprise all Baptist Health System hospitals, Tenet’s Brookwood Medical Center and each organization’s related businesses. Under the joint venture arrangement, Tenet will be the majority partner and will manage the network’s operations.
The new company will unite Baptist Health System’s four hospitals – Citizens Baptist Medical Center, Princeton Baptist Medical Center, Shelby Baptist Medical Center and Walker Baptist Medical Center – with Brookwood Medical Center. Together, the new system will have more than 1,700 licensed beds; 77 outpatient and physician office facilities, counting clinics delivering primary and specialty care; about 7,300 employees; and about 1,500 associated physicians.
Tenet Healthcare Corporation, a healthcare services company, primarily operates acute care hospitals and related healthcare facilities in the United States. It operates through two segments, Hospital Operations and Other, and Conifer.
Shares of Broadcom Corp. (NASDAQ:BRCM), declined -0.43% to $52.91, during its last trading session.
Broadcom Corporation, declared a series of Memorandum of Understanding (MOU) agreements with several Chinese companies, counting H3C, Inspur and StarTimes. The signing of these agreements at Broadcom’s annual Asia Media Summit reflect the company’s ongoing commitment to expand planned relationships in the region and drive further innovation in home entertainment and the digital home.
As part of the company’s raised emphasis on partnership in China, Broadcom will sign the following MOUs:
Hangzhou H3C Technologies Co., Limited
A joint agreement with Hangzhou-based networking company H3C Technologies Co., Limited, a leading IT infrastructure products and solution provider. Broadcom and H3C will work together to explore new market requirements and technical trends to optimize the interaction and performance of current and future platforms and architectures.
“As a leader in new IT architecture, H3C believes that its philosophy of ‘Integration of Cloud and Internet’ will promote continuous innovation in multiple applications, counting the smart home,” said Mr. Wang Gang, Hangzhou H3C Communication Technology Co, Ltd. Vice President of Research and Development. “We are happy to partner with Broadcom, one of the world’s leading experts in wired and wireless communications to drive continued smart home innovation in China and abroad.”
Broadcom Corporation provides semiconductor solutions for wired and wireless communications. Its products offer voice, video, data, and multimedia connectivity in the home, office, and mobile environments. The company operates in two segments: Broadband and Connectivity, and Infrastructure and Networking.
Finally, HealthEquity, Inc. (NASDAQ:HQY), ended its last trade with 2.05% gain, and closed at $33.90, hitting its highest level.
HealthEquity, declared that the company has been added to the S&P SmallCap 600 Index effective after market close on June 25, 2015.
The S&P SmallCap 600 measures the small-cap segment of the U.S. equity market. The index is designed to track companies that meet specific inclusion criteria to ensure that they are liquid and financially viable.
HealthEquity, Inc. provides various solutions for managing health care accounts, health reimbursement arrangements, and flexible spending accounts for health plans, insurance companies, and third-party administrators in the United States.
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