Business today
HCA ADJUSTS LEADERSHIP: Jack O. Bovender will succeed Dr. Thomas Frist Jr. on Jan. 1 as chairman of HCA, the nation's largest hospital chain. Bovender, who ran Largo Medical Center in the late 1970s, has been the Nashville, Tenn., hospital company's president and chief executive since January and has worked at HCA for more than 20 years. After the transition, Bovender will remain chief executive and Richard Bracken, currently president of HCA's western group, will become president. Bracken is being promoted immediately to HCA's chief operating officer. Replacing him as president of HCA's western group is Samuel Hazen, who has been the division's chief financial officer. Frist, who founded HCA in 1968 with his father and Jack C. Massey, will remain on HCA's board. He is also one of HCA's largest shareholders. HCA has agreed to pay more than $840-million in criminal fines and civil penalties to settle a long-running federal investigation into its practices. The company is in negotiations with the government over allegations that it routinely overcharged Medicare and paid kickbacks to physicians.
Lincoln National sells its reinsurance unit
Swiss Re will pay $2-billion in the deal, which is part of Lincoln's move from multiline insurer to a financial services company.
No one's biting offer for Tampa restaurant
Desperate for a place its tenants can use, a downtown high-rise is dangling a tasty deal.
GE Capital, Heller agree to takeover
The General Electric subsidiary says it will pay $5.3-billion to acquire the Chicago finance firm.
Eckerd to pay fine in Medicaid case
Accused of fraud, the Largo drugstore chain agrees to pay $1.7-million in a plea agreement. A civil case continues.
Ice Palace, Times sign marketing agreement
TAMPA -- The St. Petersburg Times will become the exclusive newspaper sponsor for the Ice Palace, the Tampa Bay Lightning hockey team and the Tampa Bay Storm arena football team under a six-year marketing agreement that begins this week.
