AMEX BOOKS ROSENBLUTH: American Express said it signed a deal to acquire Rosenbluth International, a Philadelphia company that specializes in booking corporate travel. Both companies operate significant business travel centers in Tampa that would be merged over the next several months into the American Express brand. Rosenbluth employs more than 150 people in Tampa; the American Express corporate travel center is staffed by about 400. "Both companies are quite efficient, but it remains to be seen how these centers will be integrated in the coming months," said American Express spokeswoman Christine Levite. The purchase price of closely held Rosenbluth was not disclosed. American Express agencies handled $15.5-billion in travel in 2002 while Rosebluth booked about $3-billion.
HCA REDUCES ESTIMATE: HCA Inc., the nation's largest hospital chain, lowered its earnings estimate for the quarter ended June 30 after increasing its allowance for doubtful accounts. The Nashville company, which has nine hospitals in the Tampa Bay area, said net income for the quarter will be 46 cents to 48 cents per share, compared to 66 cents a year ago. Because of a higher number of uninsured patients, HCA will take a $106-million allowance, or 13 cents a share, for doubtful accounts. The company also is taking a previously announced charge of $130-million, or 15 cents a share, for discontinuing development of a new patient account information system. HCA also said it expects to announce details of a new charity care policy for uninsured patients by year end; the policy is expected to reduce earnings before taxes by about $25-million per year.
PARADYNE SELLING ETHERLOOP2: Paradyne Networks Inc. said Tuesday that it is seeking a buyer for its EtherLoop2 technology, which is used in providing high-speed Internet services over phone lines. The Largo maker of Internet access equipment said it will continue to develop and support its current-generation EtherLoop product line. The planned EtherLoop2 sale, which was announced after Tuesday's market close, is the latest step in Paradyne's recent restructuring. In June, the company laid off 55 employees, or about 12 percent of its workforce. Paradyne's shares closed Tuesday at $2.15, down 12 cents.
PHARMACY SUSPENSION STAYED: The District Court of Appeals in Tallahassee issued an order late Tuesday staying the emergency suspension of ADV-Care Pharmacy Inc.'s non-resident license with the state. ADV-Care of Ontario is one of two Canadian pharmacies that had been granted Florida pharmacy licenses through what the state is now calling an error. Earlier this month, the secretary of Florida's Department of Health suspended both licenses, citing "an immediate and serious danger" to the public. ADV-Care appealed the suspension. The other Canadian pharmacy, Minit Drugs of Alberta, has not yet responded to the state's suspension of its license.
