Houston psychiatric hospital converting to rehab facility.
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Biomedical subjects
Publications and source records attributed to S Lutz.
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Gamblers known as venture capitalists, who once piled their chips on electronics and computer software, are now turning to fast-growing medical companies for a return. And they're not just playing hunches with biotechnology or other glitzy start-ups. Recent investments include rehabilitation, hospital management and emergency department ventures in addition to medical device development.
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At age 38, he's already created hospital departments from scratch, taken charge of a $149 million expansion project, taken a children's hospital independent after a 35-year link to another facility and found time to reverse losses at Texas Children's Hospital in Houston. He's Mark Wallace, the American College of Healthcare Executives' Young Healthcare Executive of the Year.
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While many economic experts tout employee stock ownership plans as a way to increase workers' ownership of their company, ESOPs do involve risk. Employees at Charter Medical Corp. may be the losers there, as their retirement plan--valued at as much as $634 million at one time--may be worth about $16 million after the company emerges from restructuring.
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