Allegheny to study restricted fund use

Article Abstract:

Allegheny Health, Education and Research has appointed a special team of trustees to look into the firm's use of all endowed and restricted funds. The company also directed the committee to report their findings to its foundation board and the state attorney general. Allegheny CEO Anthony M. Sanzo stated that the committee would review all the transactions associated to the funds and would employ an outside law firm to help the investigation. Allegheny spokesman Jack Frank stated that the formation of the committee was due to questionable activities reported in The Inquirer.

Comment:

Appoints a special team of trustees to look into the firm's use of all endowed and restricted funds

Health Care and Social Assistance, Medical & Health Services, Medical care, Article, Allegheny Health, Education and Research Foundation

Genesis obtains reprieve on debt

Article Abstract:

A group of lenders led by Mellon Bank has given a reprieve to Genesis Health Ventures Inc., allowing it a 60-day extension to make a $3.8 million interest payment on its senior debt. Kennett Square, Penn.-based Genesis Health, which has $1.5 billion in outstanding debt, has hired Merrill Lynch and Co. to advise it on restructuring its assets.

Commercial Banks, Commercial Banking, Nursing & Rest Homes, Nursing and Residential Care Facilities, Nursing and Personal Care Facilities, Nursing homes, Genesis Health Ventures Inc., Mellon Bank Corp., GHV, MEL

Area hospitals' 1998 death rates at expected level

Article Abstract:

A new report released by the Pennsylvania Health Care Cost Containment Council has said Southeastern Pennsylvania hospitals charge more for patient services than the rest of the state. But the death rate levels in the region met the statewide average.

Hospitals