Issue link: https://beckershealthcare.uberflip.com/i/949902
46 46 CEO/STRATEGY CHS Moves to Ban Former Lutheran Health Network CEO From Advising Competing Health System By Alyssa Rege F ranklin, Tenn.-based Community Health Systems has asked a judge to issue a temporary injunction barring the former CEO of Fort Wayne, Ind.-based Lutheran Health Network from continuing in his role as an adviser to a competing Indiana health system, the News-Sen- tinel reports. Lutheran Health Network and CHS filed a lawsuit against ex-Lutheran CEO Brian Bauer late last year alleging Mr. Bauer shared "confidential and proprietary information" with Indianapolis-based IU Health, which violated CHS' stock option agreement. IU Health revealed plans last October to build two outpatient facilities near Fort Wayne-based Lu- theran Hospital. Mr. Bauer was hired as CEO of IU Health Fort Wayne following his dismissal from Lutheran last May, according to a sec- ond News-Sentinel report. If the temporary injunction is granted, Mr. Bauer would be barred from en- gaging in IU Health's activities "in any role because [Mr.] Bauer inevitably could or would disclose or use [CHS'] confidential or proprietary informa- tion," the report states. He would also be prevented from initiating certain financial activity to grow IU Health's presence in Fort Wayne using that con- fidential information. In his motion to dismiss Lutheran and CHS' original lawsuit, Mr. Bauer stat- ed the motion constituted "an attempt to sabotage that business relation- ship [between Mr. Bauer and IU Health] and … to prevent Mr. Bauer from working with those who seek to improve access to quality healthcare in Fort Wayne and northern Indiana," the report states. n Community Bemoans Carolinas HealthCare's Rebranding, Says System 'Renamed to a Buzzword' By Alyssa Rege C harlotte, N.C.-based Carolinas HealthCare System rebranded to Atrium Health in February. Aer the announcement, many community members began to voice their opposition to the name, stating the change erases the health system's cultural ties to the area, among other issues, according to e Charlotte Observer. Atrium Health's former brand, Carolinas HealthCare, was intro- duced in 1996. Executives at the time said the Carolinas HealthCare brand reflected the 40-hospital system's regional scope, the report stated. Its previous brand name dated back to the 1940s. Some community members have accepted the rebrand as just an- other symptom of the sweeping changes taking place across the re- gion. Others criticized the Atrium Health brand as being too cor- porate-sounding, arguing the new brand is "as appealing as a fake Ficus" and elicits a "sad loss of a sense of place[,] renamed to a buzz- word," according to e Charlotte Observer. Atrium Health officials said the rebrand constituted an effort to convey the health system's strength and warmth, as well as being instantly recognizable. Officials noted they decided to keep the sys- tem's "Tree of Life" icon, though slightly updated, the report stated. However, some residents question the timing of the decision, as Atrium Health is in the midst of negotiating its proposed merger with Chapel Hill, N.C.-based UNC Health Care, which the orga- nizations announced last year. "Shame on Carolinas HealthCare System, now Atrium Health, for needlessly spending what will easily be millions of dollars changing signs, stationery, pens and white coats — for a name change amidst negotiations that may very well create another name change," a res- ident wrote in a letter to the editor of The Charlotte Observer. n Healthcare Stocks Lost $69B on News of Amazon, JPMorgan, Berkshire Hathaway Deal By Morgan Haefner S tocks across the healthcare sector took a $69 billion hit after Amazon, JPMorgan Chase and Berkshire Ha- thaway unveiled plans to create a health- care company on Jan. 30, Reuters reports. The long-awaited entrance of Amazon into the $3.47 trillion U.S. healthcare sec- tor was a main driver of the dip, accord- ing to the report. Several healthcare companies saw their stock fall more than 5 percent from mar- ket close Jan. 29 to market open Jan. 30. Anthem's shares fell 5.1 percent; CVS Health saw shares dip 6.1 percent; Unit- edHealth's stock was down 6.3 percent; and Express Scripts' shares plunged 7.8 percent. n