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VOL. 130 | NO. 29 | Thursday, February 12, 2015

Daily Digest

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Gas Station, Convenience Store Sell for $785,000

Investors have purchased a Southeast Memphis gas station and convenience store for $785,000.

Ajit Varma and Haseena Ajit Varma, purchased the Texaco gas station at 4219 Riverdale Road from Hudson Properties LLC, according to a Jan. 30 warranty deed.

Built in 1990, the convenience store totals 4,514 square feet. The Shelby County Assessor of Property’s 2014 appraisal is $496,700. The seller, Hudson Properties, acquired the property for $900,000 in 2012.

Source: The Daily News Online & Chandler Reports

- Amos Maki

AOC Promotes Three Employees

AOC, a Collierville-based company that supplies resins, gels coats and other materials used to make composites and cast polymers, has promoted three executives.

Matt Watkins is executive vice president, after 24 years with AOC.

Allen Brown is vice president of informaton technology. He has held several IT positions in his nearly 20 years with the company.

And Dan Cox is vice president of operations. He joined AOC in 2003 as a project engineer and five years later became director of engineering and then director of operations in 2012.

- Bill Dries

Central Defense Security Expands Staffing Division

Central Defense Security is increasing its Central Defense Staffing division with additional office space and workforce.

The expansion is happening at its current location at 6084 Apple Tree Drive, Suite 7, with the addition of Suites 8 and 9.

Founded in March 2013, the division originally leased 797 square feet of office space. When the expansion is finished later this month, the division will have a total of 2,226 square feet.

– Andy Meek

Baptist Executive Boswell To Chair Medical Foundation

Jim Boswell, Baptist Medical Group’s CEO and vice president of physician services for Baptist Memorial Health Care, has been named chairman of the board of the American Medical Group Foundation, an affiliate of the American Medical Group Association.

Boswell will serve a two-year term as chair.

The foundation supports medical groups around the country in their efforts to enhance population health and care coordination through integrated delivery systems.

– Andy Meek

Local Health Care Executive Appointed To State Agency

Janet Williford, director of Baptist Trinity Home Care & Hospice, has been appointed to the Tennessee Board of Licensing Health Care Facilities by Tenn. Gov. Bill Haslam and will hold the position of Home Health Agency Administrator until June 2018.

The board is made up of 18 members, all appointed by the governor, who each serve terms of four years.

The board is empowered to license and regulate all hospitals, recuperation centers, nursing homes, homes for the aged, home care organizations, assisted living facilities, birthing centers, residential hospices, and ambulatory surgical treatment facilities.

The board also has the ability to revoke licenses for violations of federal or state laws or regulations in the interest of patient health, safety, or welfare.

– Andy Meek

UTHSC to Host Open House for Prospective Students Feb. 20

Students possibly interested in a health care career have an opportunity to come to an open house at the College of Health Professions at UT Health Science Center on Friday, Feb. 20, from 2 to 4 p.m.

Students will have a chance to hear about careers in physician assistant studies, physical therapy, occupational therapy, medical laboratory science, or speech-language pathology and audiology.

Other potential occupations prospective students can learn about include becoming a technologist who detects infection and disease, or a health informatics and health information manager.

To learn more, email ahcareers@uthsc.edu or call (901) 448-2187.

– Don Wade

John Stamps Appointed New Collierville Alderman

John E. Stamps is the newest member of the Collierville board of aldermen.

Stamps was chosen by the board Monday, Feb. 9, to fill the vacancy created by the death of Alderman Jimmy Lott.

Stamps, who ran for alderman in the 2014 Collierville elections, was one of 22 citizens who applied for the vacancy.

Stamps is broker-owner of Stamps Real Estate Co. and has served on the Collierville Planning Commission.

– Bill Dries

State Employees Receive Information About Buyouts

The Tennessee Department of Human Resources has sent an email to all state employees about a voluntary buyout program.

Gov. Bill Haslam mentioned the program during a budget presentation earlier this week.

According to the email, only those employees determined eligible for the buyout will be invited to participate in the program. Each department and agency is working to determine what classifications will be considered eligible.

A website, telephone line and email address have been established to update and inform people about the program, as well as give them an opportunity to ask questions.

Town hall meetings are also planned across the state to provide assistance to eligible employees. They are expected to get buyout packets in late April.

– Associated Press

Rite Aid to Pay $2 Billion for Pharmacy Benefit Manager

Rite Aid is expanding from running drugstores into managing pharmacy benefits with a planned, $2 billion purchase of EnvisionRx.

The company said it will pay about $1.8 billion in cash and $200 million in stock for EnvisionRx, a pharmacy benefit manager, owned by the investment firm TPG.

PBMs run prescription drug plans for customers like employers and insurers. They process mail-order prescriptions and handle bills for prescriptions filled at retail pharmacies. EnvisionRx also offers services in a growing area for prescription drug spending, specialty pharmacy, and a national Medicare prescription drug plan.

Rite Aid will enter a market dominated by large players like Express Scripts Holding Co. and rival drugstore operator CVS Health Corp.

Rite Aid is based in Camp Hill, Pa., and runs 4,569 drugstores, a total that trails Walgreen Co. and CVS Health. EnvisionRx is based in Twinsburg, Ohio.

The EnvisionRx deal comes nearly two months after Rite Aid said its fiscal third-quarter earnings jumped 47 percent in a performance that trumped Wall Street expectations, and the drugstore chain hiked its annual forecast after cutting it for two straight quarters. The boards of directors for both companies have approved the EnvisionRx deal, which is expected to close in September.

– Associated Press

PROPERTY SALES 56 56 9,658
MORTGAGES 49 49 10,665
BUILDING PERMITS 212 212 21,170
BANKRUPTCIES 49 49 6,157