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Vanguard Health Systems

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From Wikipedia, the free encyclopedia
Vanguard Health Systems
Company typePublic
IndustryHospitals
Founded1997
FateAcquired by Tenet Healthcare
Headquarters
Nashville, Tennessee
,
United States
Number of locations
26
Key people
Charles N. Martin (CEO)
Kent H. Wallace (COO)
RevenueIncrease $4.90 billion[1]
-$7.3 million[1]
Number of employees
Over 36,800
Websitevanguardhealth.com

Vanguard Health Systems was an operator of hospitals and other medical facilities in five U.S. states: Arizona, Illinois, Massachusetts, Michigan, and Texas.[2] The company's headquarters were located in Nashville, Tennessee. Vanguard owned twenty-six hospitals, including the ten Detroit Medical Center hospitals in Detroit, Michigan, five in San Antonio, Texas, four in the Chicago area, four in the Phoenix, Arizona area, and controlled an additional three hospitals through joint ventures, for a total of 6,201 licensed beds (as of 2012). [3]

On February 26, 2001, Charles N. Martin Jr., chairman, president and CEO of Vanguard Health Systems in Nashville and other investors invested $3.2 million to the combined companies of Health Connections Inc. and Coactive Systems Corporation.[4]

Charles N. Martin, former CEO of Ornda Healthcorp, started Vanguard with funding from Morgan Stanley.[5] The Blackstone Group acquired a majority stake in Vanguard in 2004.[6] The company went public in 2011, with Blackstone continuing to have a controlling stake.[7] Vanguard was acquired by Tenet Healthcare in 2013.[8]

Hospital systems

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References

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  1. ^ a b "Vanguard Health Systems Inc". Retrieved 2012-06-03.
  2. ^ "Hospitals". Vanguard Health Systems. Retrieved 2007-05-12.
  3. ^ "Annual Report on SEC form 10-K". June 30, 2011. Retrieved 2012-03-06.
  4. ^ "Health Connections Inc. and Coactive Systems Corporation Merge".
  5. ^ Warner, Susan (July 26, 1998). "2 Companies Take An Interest In Allegheny". The Philadelphia Inquirer. Philadelphia, Pennsylvania: Knight Ridder. Archived from the original on November 6, 2013. Retrieved November 3, 2013.
  6. ^ "US Blackstone buys Vanguard Health Systems for $1.75bn". AltAssets. London: Almeida Capital. 24 September 2004. Retrieved November 3, 2013.
  7. ^ Vanguard Health Rises in First Day of Trading in New York
  8. ^ Jacobson, Gary (1 October 2013). "Tenet completes $4.3 billion acquisition of Vanguard Health Systems". The Dallas Morning News. Dallas: A. H. Belo. Retrieved November 3, 2013.
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