NEW ORLEANS – On Oct. 10, LCMC Health and Tulane University introduced main partnership plans.
If the proposed $150 million deal is authorized by the state Attorney General’s Office, Tulane Medical Center, Lakeview Regional Medical Center and Tulane Lakeside Hospital will probably be acquired from HCA Healthcare, a nationwide for-profit operator of well being care services, and will be a part of the opposite six hospitals in the nonprofit LCMC Health system. An LCMC spokesperson mentioned staff on the three hospitals will preserve their jobs.
The deal will considerably improve LCMC’s footprint and primarily cut back the variety of main well being care operators in better New Orleans to 2: LCMC and Ochsner Health System.
“LCMC Health and Tulane University have shared values and a vision to partner to bring the best of community healthcare and academic medicine to all those we serve,” mentioned LCMC Health CEO Greg Feirn in a press launch asserting the potential deal. “With this transformational partnership, we can build on our strong history of collaboration with our academic partners, Tulane University and Louisiana State University, to do more for our patients, communities and region together than would be possible as separate organizations.”
Here are extra of the week’s prime business tales:
Insurance Rates Going Up
The Louisiana Department of Insurance mentioned it has authorized Louisiana Citizens’ request for a 63% charge improve on its residential property insurance insurance policies starting Jan. 1, 2023. The charge improve won’t have an effect on Citizens’ present policyholders till they renew their coverage after that date. Citizens is the state’s insurer of final resort. Louisiana regulation requires Citizens’ charge for every of its coverage varieties in every parish to be a minimum of 10% over the very best qualifying market charge or 10% over the actuarial charge, whichever is increased. The LDI mentioned the speed improve is nearly completely a results of the elevated price of reinsurance for Citizens’ elevated variety of insurance policies this hurricane season. “There’s no sugarcoating it: this increase is extremely painful but required by law to make sure Citizens can handle a potential future disaster for its many policyholders,” mentioned Insurance Commissioner Jim Donelon.
John Deere Invests in South Louisiana
Deere & Company, the worldwide company that manufactures the long-lasting John Deere model of agricultural, development and forestry gear, is investing $29.8 million to increase operations at its Thibodaux facility. The firm will create 70 new direct jobs with a mean annual wage of $47,472, and will retain 311 present jobs in Louisiana, together with 284 jobs on the Lafourche Parish facility. Louisiana Economic Development estimates the mission will outcome in 110 new oblique jobs, for a complete of 180 new jobs in the Bayou Region. The announcement coincides with Louisiana’s commentary of Manufacturing Week, the eleventh annual nationwide celebration of the sector’s continued progress and the profession alternatives it has to supply. (From Louisiana Economic Development)
Companies Move Forward on Carbon Capture
Gov. John Bel Edwards and the executives of main world vitality firms CF Industries, ExxonMobil and EnLink Midstream introduced an “unprecedented” decarbonization collaboration geared toward dramatically lowering industrial CO2 emissions in Louisiana. The announcement – described as a possible business prototype for industrial-scale carbon seize and sequestration initiatives – was made Wednesday on the State Capitol. The three firms have entered into the largest-of-its-kind industrial settlement to seize emissions from CF Industries’ Ascension Parish manufacturing complicated, transport the CO2 via EnLink’s transportation community and completely retailer it underground on property owned by ExxonMobil in Vermilion Parish. “Today’s announcement of this unprecedented, large-scale, low-carbon partnership is a key milepost on Louisiana’s path toward a brighter future for our climate, our economy and our people,” Gov. Edwards mentioned. “The collaboration and innovation to bring carbon capture and storage technology forward at this scale reaffirms our state’s ability to grow our economy without sacrificing our long-term emission-reduction goals to net zero by 2050.” (From Louisiana Economic Development)
UNO Announces Capital Campaign
The University of New Orleans has introduced the general public part of a $50 million complete fundraising marketing campaign, the primary in the establishment’s 64-year historical past. The marketing campaign, which known as “Next is Now,” goals to create an unprecedented degree of funding in the college’s folks, packages and services. UNO has already raised greater than $30 million towards its aim, with one other $10 million in commitments. “We are calling the campaign Next is Now because we are boldly declaring our ambitions to bring the University of New Orleans to new heights, and we’re not waiting to do that; we are doing it now,” mentioned President John Nicklow. “The value of a UNO degree is demonstrable and well-known throughout our city and our region. We are asking our alumni and supporters to help make that degree even more valuable by investing in the University and our students for generations to come.”
