September 01, 2016 3:12 AM ET

Healthcare Providers and Services

Company Overview of Partners HealthCare System, Inc.

Company Overview

Partners HealthCare System, Inc., operates community and specialty hospitals, a managed care organization, a physician network, community health centers, and home care and other health-related entities in the United states. The company provides physician referral, wellness information, clinical trial, inpatient transfer, research, and medical educational services; and operates Physician Gateway, a secure Internet service that allows providers to monitor the status of their patients who are receiving care from physicians. It also operates two tertiary and seven community acute care hospitals in Massachusetts; one facility offering inpatient and outpatient mental health services; and three fac...

Prudential Center

11th Floor

800 Boylston Street

Boston, MA 02199

United States

Founded in 1994

Phone:

617-278-1000

Key Executives for Partners HealthCare System, Inc.

President and Chief Executive Officer, and Director
Chief Financial Officer, Executive Vice President of Administration and Finance and Treasurer
Age: 61
President of Partners Continuing Care
Vice President and General Counsel
Chief Academic Officer
Compensation as of Fiscal Year 2016.

Partners HealthCare System, Inc. Key Developments

Partners HealthCare Reports Earnings Results for the Third Quarter and Nine Months Ended June 30, 2016

Partners HealthCare reported consolidated earnings results for the third quarter and nine months ended June 30, 2016. For the quarter, the company reported operating loss of $33 million. During the comparable quarter of fiscal year 2015, the company reported income from operations of $30 million. The company's total operating revenue was increased $217 million to $3.2 billion in the quarter, reflecting continued growth in both provider and insurance activities. The company reported an overall loss of $44 million, including a non-operating loss of $11 million, in the 2016 quarter. In the 2015 quarter, the company reported an overall gain of $85 million, including a non-operating gain of $55 million. The company reported income from operations of $1 million for the nine months ended June 30, 2016 and $86 million in the comparable 2015 period. The company reported an overall loss of $154 million, including a non-operating loss of $155 million. In the comparable 2015 nine-month period the company reported an overall gain of $107 million, including a non-operating gain of $21 million.

Nobilis Therapeutics Signs Licensing Agreement with Partners HealthCare

Nobilis Therapeutics, Inc. has entered into a licensing agreement with Partners HealthCare System, Inc. to license intellectual property surrounding the use of noble gas-containing mixtures as a treatment for post-traumatic stress disorder (PTSD). Both the companies are based in the US. The agreement gives Nobilis Therapeutics the rights to the treatment of PTSD as well as of other psychiatric disorders. PTSD is a mental health disorder that is triggered by witnessing or living though a terrifying event.

Partners HealthCare May Still Acquire Emerson Hospital

The proposed plan of acquisition of Emerson Hospital, Inc. by Partners HealthCare System, Inc. announced around 2 years back has gone from a near-term solution to a far-off pipe dream amid increased state scrutiny of costs and accessibility to care in the commonwealth. The hospital hasn't ruled out a possible merger or acquisition by a larger care provider in the years ahead. "We have to be nimble and change our plans should the market dictate," said, Christine Schuster, Emerson's President and Chief Executive Officer. "We're just keeping our eyes open, being aware of the environment and responding the way we have to."

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