St. Vincent system adopts CHI name
St. Vincent Health System has undergone a name change to reflect that it is held by the Catholic Health Initiatives of Denver. The Little Rock-based system is now CHI St. Vincent.
It has long been part of that nationwide system, but with the April 1 acquisition of what had been Mercy Hot Springs hospital, the change "comes at an opportune time" and will reflect that "we are becoming a more regional network," Peter Banko, president and chief executive of St. Vincent, said Friday.
"We were known as a largely Little Rock system," Banko said.
The change, which became official in Arkansas on Sunday, is part of Catholic Health's nationwide rebranding.
The names of the hospitals in the St. Vincent system are now: CHI St. Vincent Infirmary, CHI St. Vincent North, CHI St. Vincent West, CHI St. Vincent Morrilton and CHI St. Vincent Hot Springs. Clinics will likewise reflect the change.
Catholic Health bought QualChoice Health, a Little Rock-based insurer, on May 2, but no decision has been made on renaming it, Catholic Health spokesman Michael Romano said. The system owns 89 hospitals and other facilities in 18 states.
-- Jack Weatherly
Incentives approved
for new rail facility
TrinityRail Maintenance Services Inc. will receive $2 million from the Arkansas Economic Development Commission to convert a Jonesboro wind turbine plant into an industrial rail production facility.
Development commission spokesman Scott Hardin said Friday that the commission funded the renovations because TrinityRail will add up to 350 jobs to the Jonesboro community. Renovations at the old Nordex USA plant are scheduled to be completed by fall 2015.
Hardin said TrinityRail will also be eligible for two tax incentives in addition to the $2 million. The Create Rebate incentive will give the company a 3.9 percent payroll rebate in Jonesboro for seven years. The Tax Back incentive will give the company sales tax refunds on building materials and taxable machinery and equipment associated with the renovations.
-- Claire Boston
State index up 0.11,
ends week at 344.39
The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, rose 0.11 to 344.39 Friday.
Seven stocks rose and nine fell, while one was unchanged.
Shares of Murphy Oil rose 1.78 percent on average volume.
PAM Transportation remained unchanged at 26.45 at half its average volume.
Four stocks advanced for the week: Murphy Oil, Windstream, PAM Transportation and America's Car-Mart.
Bear State lost 13.1 percent for the week.
Tyson lost 11.7 percent for the week.
Murphy Oil gained 3.4 percent for the week.
Total volume of the index was 21.5 million. The average daily volume for the week was 22 million shares.
The index was developed by Bloomberg News and the Arkansas Democrat-Gazette with a base value of 100 as of Dec. 30, 1997.
Business on 06/14/2014