Health Net suffers setback. (America's Health Network's financing deal with Columbia/HCA Healthcare Inc falls through)
Multichannel News, August, 1997 by Umstead, R. Thomas
The future of America's Health Network is in question after a major investment deal with hospital company Columbia/HCA Healthcare Inc. fell through last week, forcing the network to furlough three-fourths of its staff. Operators were surprised to learn of Columbia's decision to pull out of the 5 million-subscriber network last week, but they said it was still too early to decide AHN's fate.
The network said late last week that it was furloughing 161 employees - mostly on the production side - due to the sudden withdrawal of Columbia's financial support earlier in the week. The remaining 39 employees will concentrate on affiliate relations, on refining the network's business plan and on finding a new investor. Columbia announced in May that it would buy...
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