NEWS IN BRIEF

Heart Hospital in LR says jobs eliminated

Arkansas Heart Hospital Chief Executive and President Bruce Murphy confirmed in a news release Wednesday that the hospital has eliminated some positions, though he declined to say how many.

“With the changing healthcare landscape, we have examined our organization and consolidated our work force where possible,” Murphy said in a statement. “Unfortunately, job elimination has been part of our pro-active improvement of our performance.”

The 112-bed hospital at 1701 Shackleford Road in Little Rock was purchased by Murphy, a cardiologist, and other physicians in May 2011 from Charlotte, N.C.-based MedCath Corp.

The doctors’ group, Ar-Med LLC, bought Med-Cath’s 70.3 percent interest to give it complete ownership of the facility.

  • Jack Weatherly

FDA, state nonprofit OK technology pact

The U.S. Food and Drug Administration has signed an agreement with the Arkansas Research Alliance that will provide assistance to Arkansas based research institutions in identifying technology that has the potential for commercialization.

The federal agency’s National Center for Toxicological Research in Jefferson County will administer the program.

The agreement “spurs economic growth opportunities for Arkansas businesses,” Jerry Adams, chief executive officer of the alliance, said in a statement. The alliance is a nonprofit organization that describes itself as committed to strengthening economic competitiveness in Arkansas.

Under the agreement, the Jefferson County center will provide the alliance with technological activities that may have commercial value, and the alliance will seek business partners to develop these technologies into commercial products.

  • David Smith

Index adds 1.50, led by Arkansas Best

The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, rose 1.50 to 293.80 Wednesday.

“U.S. stocks mostly rose on Wednesday after [President Barack] Obama’s decision to delay military action against Syria eased tensions,” said John Blackwell, senior vice president and managing director of equity trading at Stephens Inc. in Little Rock. “The Arkansas Index moved higher as 11 stocks advanced and six declined.”

Arkansas Best climbed 5.4 percent in heavy trading after reaching a 52-week high.

Home BancShares and Murphy Oil also hit 52-week highs during the day.

The index was developed by Bloomberg News and the Arkansas Democrat-Gazette with a base value of 100 as of Dec. 30, 1997.

Business, Pages 23 on 09/12/2013

Upcoming Events