WellStar buys a broken shard of Newt, Inc.

One of his former constituents is picking up one of the shattered pieces of Newt, Inc.

Marietta-based WellStar Health System announced today that it has purchased the trademark, website and whatever else is left of the Center for Health Transformation, a think-tank started by former U.S. House speaker Newt Gingrich that declared bankruptcy this spring during his run for president.

Begun as the Gingrich Group in 2003, the Center for Health Transformation, the think-tank brought in “at least $37 million” over an eight-year period from major health care interests and industry players, the Washington Post reported last year.

Pharmaceutical Research and Manufacturers of America, the industry trade group known as PhRMA, was among the center’s clients, paying as much as $200,000 a year for membership, according to company documents.

By the time it filed for Chapter 7 liquidation in U.S. Bankruptcy Court in Atlanta, CHT listed $1 million to $10 million in debt, with only up to $100,000 in assets.

WellStar announced its plans in a press release that included no information about the price of the acquisition. But it offered a hint that the former 6th District congressman will retain ties with the re-formed organization:

[T]he CHT will begin as an invitation-only, collaborative network limited to 20 non-competing, not-for-profit health systems, which will evaluate and share best transformational and innovative practices aimed at delivering higher quality healthcare at lower costs and with increased access for all Americans.

…The CHT will operate as an independent, member controlled, non-partisan, not-for-profit entity with funding coming from memberships.

To be considered for membership, health systems must be not-for-profit, a multi-facility health system with complimentary ancillary services, and commit to active participation by its president/CEO and other senior executives. The members will decide which national experts, such as Speaker Gingrich, to invite into a Board of Advisors.

Initially, the membership will concentrate on the southeast United States to include Georgia, Alabama, Florida, Louisiana, Mississippi, Missouri, North and South Carolina, Tennessee, Texas and Virginia.

***
On only a slightly related note, Gingrich was on Comedy Central’s “The Colbert Report” last night, where he declared Super PACs to be an evil that should be discarded. A clip:

- By Jim Galloway, Political Insider

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16 comments Add your comment

Big John

November 14th, 2012
12:57 pm

Its all GWB fault.

emo

November 14th, 2012
1:04 pm

“Brought in at least $37 million” and is bankrupt?
Has anyone asked Tiffany if Newtie has made some large purchases recently?

Lourdes

November 14th, 2012
1:05 pm

Should turn it into a website for has-been cons looking to cheat on their spouses while spouting off about morality.

Newt is nuts

November 14th, 2012
1:14 pm

When will everyone realize that Newt is radioactive when it comes to finances? Deal with crazy Newt and you end up broke.

Kris

November 14th, 2012
1:27 pm

I fine this DEAL kinda shady on the heals of Georgia’s Health care crises, Concerning the Afforadable Health care act…Shady crooked and smells like A DIRTY DEAL about to happen for the citizens of GA.

Shar

November 14th, 2012
1:36 pm

Somehow I suspect that the health systems invited to participate will not have “complimentary ancillary services” but rather “complementary” ones.

Buckhead Boy

November 14th, 2012
2:24 pm

Could this portend Newt lobbying the Republican administrations in these states to accept expanded Medicaid under the Affordable Care Act? He’s not one to let principle get in the way of principal.

catlady

November 14th, 2012
2:58 pm

No, no, Shar. It means, “Hey, honey, you sure look hot tonight.”

jezebel

November 14th, 2012
3:35 pm

Newt, Inc.: A think tank for horny historians and the mistresses who love them

J Throckmorton Malcontent

November 14th, 2012
3:54 pm

Newt Gingrich: genius to gerbil in 18 short years.

Newt is nuts

November 14th, 2012
4:08 pm

For those of you who keep track of minutiae, Nutty Newt only used the word “fundamentally” once during the Colbert interview.

bubbles

November 14th, 2012
4:10 pm

Hmm, $37 million raised for a “THINK TANK,” and it’s gone daddy gone!? Where’d the money go?
How much was spent on Newt’s two week annual summer vacations to the “Eyes Wide Shut”-style party of elites (and their male prostitutes) at the Bohemian Grove? Laugh if you want – it happens every year, and he is a member.
After hearing of the million-plus he “earned” from consulting fees from Fannie and/or Freddie, nothing’s shocking.

lala libertarian

November 14th, 2012
4:36 pm

Yeah, $37 million paid for a website, trademark and “whatever else is left” from a bankrupt company. Nothing fishy here. Nothing to look at. Just walk away and go back to your homes. Good night.

honested

November 14th, 2012
5:57 pm

I guess they will spend whatever they think it takes to avoid accepting they and noots have been wrong from the start on health care policy.

There is no longer room in the health care dollar for parasites to squeeze 30 cents off the top!

deegee

November 14th, 2012
5:58 pm

“By the time it filed for Chapter 7 liquidation in U.S. Bankruptcy Court in Atlanta, CHT listed $1 million to $10 million in debt, with only up to $100,000 in assets.”

And these are the people that ran on balancing the budget and getting us out of debt. This is only one lobbying organization that happened to go bust. Just stop and think of all the millions of dollars that are funneled into these organizations and where this money goes.

Georgia

November 14th, 2012
6:12 pm

Notice the new Newt? He’s as polite and congenial as an unpaid social liason hosting an officers wives’ club bridge party. You should have seen him and his pretty wife on The View. His new wife is pretty, not ugly and weird like his old wife in that stinky old hospital bed. Like, ew. and yucky yucky.

I like the new Newt and his prettier wife. Newt in 2016. Maybe he’ll give us a newer, prettier America, and stick Obamacare in a bedpan where it belongs.