Private Co bids to buy Miami's public health system serving the uninsured

[Shallah Kali]

Miami public health care system for sale

http://floridaindependent.com/22684/miami-public-health-care-system-for-sale


The Miami Herald reported today that Cerberus Capital Management, one of the biggest private investment firms in the United States, is the owner of Steward Health Care, the Boston hospital group that this week made the $1.1 billion bid to buy Jackson Health System.

Steward delivered a letter early this week to the Public Health Trust, which oversees Jackson. The letter lays out “the terms of our non-binding letter of interest in becoming a long term strategic partner for Jackson Health System.” (See the full letter below.)

Martha Baker — president of the Service Employees International Union Healthcare Florida Local 1991, which represents 5,000 registered nurses, attending physicians and health care professionals in the Jackson Health System — told The Florida Independent she doesn’t think the sale will go through. “Joe Martinez, chairman of county commission, put a nix on this,” she said. “The Public Health Trust does not have the authority to make a deal to sell Jackson.” (See the commissioner’s letter below.)

“The public owns Jackson. We oppose selling Jackson and shame on any politicos who want to give it away,” Baker said.

[malaise]

1. Public health was born because of serious diseases

spreading all over the globe. Expect the return of diseases when this shite happens.

[Shallah Kali]

2. One of the biggest private investment firms in the U.S. is behind the bid to buy Jackson Health Rea

http://www.miamiherald.com/2011/02/24/2084167/one-of-the-biggest-private-investment.html

Trust Treasurer Marcos Lapciuc said Thursday that Cerberus is “in the driver’s seat” on this deal, not Steward. “They are going to expect some return on their investment. This is not going to be charitable donation,” he said.

Healthcare and financial experts, however, continue to have many questions about the proposed sale, including what would happen to the uninsured, how to establish the real value of Jackson, how to find competitive bidders and whether Steward, formed just months ago, has the ability to operate Jackson successfully


Cerberus Capital Management wiki
http://en.wikipedia.org/wiki/Cerberus_Capital_Management

[starroute]

3. Cerberus? Oh, brother

They bought Dyncorp -- the scandal-ridden military contractor -- last April, and there was speculation at the time that they hoped to be the next Blackwater. They've also being going around systematically buying up small arms manufacturers -- Remington, Bushmaster, old names like that.

They made the news in 2007 as the majority owner of IAP Worldwide Services, which is a major military contractor that has Halliburton/KBR ties and was central to the Walter Reed scandal. Mark Levey started a thread on that here which has a great deal of important information:
http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x377023

They are really bad news wherever they show up, and my heart sinks at what Florida may be in for.

[Shallah Kali]

4. article on 'em buying dynecorp

http://dealbook.nytimes.com/2010/04/12/cerberus-to-buy-dyncorp-for-1-5-billion/

:puke: