Talk of the bay: Hospital's health mixed in debt checkup
By Times Staff
Published March 12, 2008
University Community Hospital in Tampa received a mixed financial report card from Moody's Investors Service. At the same time the rating service downgraded UCH's outstanding debt of $136-million to Baa3, it raised the outlook for the hospital system to stable from negative. The positive outlook stems from UCH's return to profitability of $13.7-million last year after a loss in 2006, as well as termination of its affiliation with money-losing Sun Coast Hospital in Largo. Moody's analysts warned, however, of continuing losses at UCH's affiliate Helen Ellis Memorial Hospital in Tarpon Springs, as well as UCH's plans to take on more debt for expansion. UCH has lost market share since 2002, coming in fourth among Tampa Bay area hospital chains. Despite erosion of market share, UCH's admissions grew 11 percent over the past five years.
Bank to withdraw from Orlando area
BankAtlantic is giving up its effort to try to make inroads into the Orlando market. The Fort Lauderdale-based bank said it will sell its five Orlando-area branches to Mercantile Bank, subject to regulatory approval. "While Orlando is a great banking market, now is not the right time for BankAtlantic to pursue a retail franchise in Orlando," president Jarett Levan said. "The sale will allow us to focus on those markets where we have a greater retail presence." BankAtlantic will keep a call center and a commercial loan office in Orlando.
Broyles is named top woman exec
She is a class-action representative in one of America's largest federal civil rights cases. On Tuesday, the Tampa-based Network of Executive Women recognized her contributions and showered the 2008 Executive Woman of the Year award on Edna Broyles. Broyles, 56, vice president of investments for UBS Financial Services, has more than 25 years of experience with major New York Stock Exchange member firms. She was among five finalists short listed for the award. "For me it is to give God all the glory," she said in her acceptance speech.