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Chattanooga Oncology to Merge with Larger Group
Chattanooga Oncology & Hematology Associates (COHA) has signed a Letter of Intent to merge with Nashville-based Tennessee Oncology. The merger will be finalized during the next few weeks, and will create one of the largest networks of physician-owned oncology practices in the nation.
Effective January 1, 2013, COHA will change its name to Tennessee Oncology. COHA patients will have expanded access to new services and clinical trial research provided by the same physicians and staff in the same four locations that have been serving cancer patients in Chattanooga and surrounding areas since 1986.
“We are excited about this merger and what it means for the future of our practice,” said Edward Arrowsmith, M.D, President of COHA. “It is the best way for us to navigate the changing healthcare environment and remain an independent community oncology practice. Most importantly, it allows us to continue providing the best possible care and offer the most innovative cancer treatments and services.”
Tennessee Oncology has a longstanding research alliance with COHA through a strategic partnership with the Sarah Cannon Research Institute, and will now offer expanded access to clinical trials and specialized services to all COHA patients. This includes access to Tennessee Oncology’s Park Pharmacy, a full-service pharmacy dedicated to oncology and hematology medications not commonly stocked in community retail pharmacies.
“COHA initiated discussions with us several months ago, and we believe this merger is a win-win for both parties as our two practices share very similar philosophies, especially when it comes to making sure patients always come first,” said Tennessee Oncology CEO Jeff Patton, M.D. “We are both committed to advancing the science of oncology through clinical trial participation and to making sure patients have access to the same clinical trials available through academic institutions in their own communities close to their homes.”
The combined Tennessee Oncology and COHA programs will offer a comprehensive range of cancer care services including specialized oncology nursing care, laboratory services, outpatient chemotherapy, PET/CT services, and patient education and support services.
“Ultimately, this merger benefits cancer patients across Tennessee,” said Dr. Patton. “Our combined services will offer unsurpassed cancer care, cutting-edge treatments and access to more clinical trials than any other program in the state.”
For more information about Tennessee Oncology visit tnoncology.com or call 1-877-836-6662.
More Business News
Last Update on October 31, 2014 07:28 GMT
SEOUL, South Korea (AP) -- Japan's Nikkei 225 stock average surged 5 percent and the yen slid against the dollar after the Bank of Japan unexpectedly announced new stimulus to boost a flagging economic recovery.
Other Asian stock markets were also higher after the Japanese central bank's announcement Friday. The dollar rose 1.2 percent to 110.64 yen.
The bank said it would increase its asset purchases by between 10 trillion yen and 20 trillion yen ($90.7 billion to $181.3 billion) to about 80 trillion yen ($725 billion) annually.
The Nikkei was up 4.6 percent at 16,380.11 after shedding some of its initial gains. Hong Kong's Hang Seng rose 1.2 percent and Seoul's Kospi was up 0.1 percent.
ECONOMY-THE DAY AHEAD
WASHINGTON (AP) -- Today. the Commerce Department will release its September report on consumer spending, which accounts for 70 percent of economic activity in the U.S.
Also, the University of Michigan will issue its monthly index of consumer sentiment for October. In September, the index reached its highest level since July 2013, led by greater optimism that the economy will grow and incomes will rise.
The Labor Department will also release the third-quarter employment cost index.
Before the market opens, Exxon Mobil will report its quarterly financial results.
NEW YORK (AP) -- Citigroup is slashing its third-quarter earnings by $600 million, saying that recent investigations by regulators have altered the results it reported earlier this month.
The New York-based bank on Thursday revised its quarterly net income to $2.8 billion from a previously reported $3.4 billion, citing legal expenses.
The bank's operating expenses rose from $12.36 billion to about $13 billion.
The company said in a statement the unexpected increase came from "rapidly-evolving regulatory inquiries and investigations, including very recent communications with certain regulatory agencies related to previously-disclosed matters."
Citi previously reported third-quarter net income of $3.44 billion, or $1.07 per share, on Oct. 14. The results exceeded Wall Street estimates.
Like other major banks, Citigroup has been the target of lawsuits and government investigations for its role in the mortgage meltdown that helped spur the financial crisis of 2008.
SURGICAL GOWNS LAWSUIT
LOS ANGELES (AP) -- A lawsuit says Kimberly-Clark Corp. falsely claimed its surgical gowns met the highest standards for protecting against Ebola and other infectious diseases.
Lead attorney Michael Avenatti says the Texas hospital where two nurses contracted Ebola used to stock the gowns but it's not clear if the nurses had used them.
The $500 million fraud suit was filed Wednesday in federal court in Los Angeles on behalf of a surgeon who wore the gowns.
The lawsuit says Kimberly-Clark knew for a year that the gowns failed industry tests and allowed the transfer of bodily fluids, bacteria and viruses, but the company still promoted them as having the highest level of impermeability.
The maker of Kleenex and other consumer products says it doesn't comment on lawsuits but stands behind its products' safety.
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