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