» Subscribe Today!
The Power of Information
The Ledger - EST. 1978 - Nashville Edition
Skip Navigation LinksHome > Article
VOL. 46 | NO. 17 | Friday, April 29, 2022

Jones Company sold to Richmond

Print | Front Page | Email this story

Richmond American Homes of Tennessee has entered into an asset purchase agreement to acquire substantially all of the homebuilding assets of The Jones Company of Tennessee, LLC.

Jones closed over 370 homes in fiscal year 2021 in the Nashville area with an average sales price of $564,000, generating revenues of $209 million.

MDC Holdings, the parent to Richmond American, says it expects the transaction to close near the end of the second quarter of 2022, and it is expected to add approximately 10 selling communities, 1,700 controlled lots and 150 units in backlog to the operations of Richmond American.

Consummation of the transaction is subject to the approval of the MDC board of directors and customary conditions.

“I am extremely proud of the business we have built in Nashville over the last 27 years,” Jones CEO Ken Stricker says. “My priority in identifying a purchaser for this transaction was to provide our people with the opportunity to continue to grow well into the future.

“The Richmond American Homes companies have a proven track record of growth. Richmond American will be looking to the Jones team to build its operations into one of the largest homebuilders in Tennessee. I am grateful to Howard Chilcutt for his vision and ongoing support after establishing our operations in Nashville with Bob Jones nearly 30 years ago.”

LBMC makes 2022 Top 100 list

LBMC, an advisory and business consulting firm, has announced it has been named to Accounting Today’s 2022 Top 100 Firms list.

LBMC jumped to 32 on Accounting Today’s prestigious list, which ranks firms each year based on revenue.

LBMC reported a year over year revenue growth of 13.48% and was also named No. 3 in the Southeast. The awards follow LBMC’s recognition as a No. 3 National Pacesetter for Growth on the 2021 list as a result of the firm’s 25% growth.

In its annual Top 100 Firms publication, Accounting Today recognized LBMC for adding an international tax service offering and a new consulting practice around growth and innovation strategy. LBMC was also named an Accounting Today Best Firm in Technology.

LifePoint Health to lead STeM investment

LifePoint Health and Specialist TeleMed have announced that an affiliate of LifePoint Health will lead an investment in STeM, a multispecialty telemedicine provider for hospitals, clinics and remote locations worldwide.

STeM will continue to serve its existing client base of health care organizations and further expand its footprint, including within the LifePoint network.

The transaction is part of LifePoint’s enterprise strategy for driving innovation called “LifePoint Forward.” Through the LifePoint Forward strategy, the company is pursuing opportunities to partner, build or buy technology and solutions that support its objectives of improving quality, access and patient outcomes and experience for those it serves.

Based in Denver, Colorado, STeM is a physician-led company offering more than 24 inpatient and outpatient specialties for virtual care consultations. STeM currently partners with health care provider organizations nationwide to provide telemedicine solutions 24 hours a day, seven days a week, 365 days a year.

Integrated Oncology buys cancer research firm

Nashville’s Integrated Oncology Network, LLC, a portfolio company of Silver Oak Services Partners, LLC, has announced the acquisition of California Cancer Associates for Research & Excellence.

Founded in 1993, cCARE is a leading provider of comprehensive cancer treatment services with over 30 providers across six centers in the Fresno and San Diego, markets.

cCARE provides an integrated cancer care offering including medical oncology, radiation oncology, diagnostic imaging and other ancillary services. The combination of ION and cCARE creates one of the largest oncology providers in the U.S. with 57 centers across 14 states.

Josh Johnson, CEO of ION, says, “cCARE has established an outstanding reputation throughout Southern and Central California due to the strength and quality of its physician base and proven ability to deliver exceptional patient outcomes. We are thrilled to partner with the cCARE team and to build upon ION’s mission to deliver comprehensive, community-based care within the markets we serve.”

Corn Board all in on E15 plant-based fuel

The Tennessee Corn Promotion Board has lauded President Biden’s announcement that E15 will be sold this summer in an effort to reduce gasoline prices.

E15 is a plant-based fuel made from corn. Often marketed as Unleaded 88, E15 is a renewable resource that’s made with regular gasoline and a smaller amount of ethanol. E15 will now be made available this summer at select gas stations throughout Tennessee.

E15 will reduce gas prices by up to 20 cents or more per gallon where E15 is available, due in part to the fact that it’s made with less crude oil.

“E15 can currently be found in the state of Tennessee at select gas stations in cities like Knoxville, Murfreesboro and Clarksville,” says George McDonald, president of the Tennessee Corn Promotion Board. McDonald is also a fourth-generation family farmer at Catesa Farms. “This news will bring more opportunities for corn to be used as a renewable resource and will benefit not just consumers paying less for gas, but will also greatly benefit our corn farmers.”

While some may just be hearing about E15 for the first time, American drivers have logged nearly 20 billion miles on E15 so far. This gas has higher octane levels, which help to boost horsepower and efficiency, along with better engine performance. E15 burns cleaner and reduces toxins, making it more environmentally friendly. Ethanol helps reduce greenhouse gas emissions by 40%-50% compared to petroleum.

Tractor Supply shows strides with ESG report

Brentwood’s Tractor Supply Company has announced significant milestones and commitments in its Environmental, Social and Governance efforts.

The report details the company’s approach to its business and ESG efforts in the priority areas of: Team Members, including its Diversity, Equity and Inclusion (DE&I) focus; customers, and how the company helps facilitate enabling sustainable lifestyles; communities and corporate giving; environment, including how Tractor Supply is focused on creating a sustainable planet; supply chain and sourcing responsibly; and lastly, governance, including oversight of ESG by the company’s board of directors.

Highlights of Tractor Supply’s 2021 “Stewards of Life Out Here” Sustainability Report, include:

Reduced its scope 1 and scope 2 GHG emissions intensity per million dollars of revenue and per square foot by 18.8% and 6.2%, respectively

Reported scope 3 GHG emissions for the second consecutive year

Avoided landfill contributions with ongoing recycling efforts: 392,000 batteries, 99,900 gallons of used oil, 32,610 tons of cardboard, 4.3 million wood pallets

Tractor Supply donated more than $14 million to community organizations through direct giving, sponsorships, fundraisers and more, including over $570,000 donated to DE&I causes and over $1.9 million in products, including pet foods and supplies, were donated to various organizations.

Change Healthcare unveils InterQual 2022

Nashville’s Change Healthcare has released InterQual 2022, the latest edition of the company’s flagship clinical decision support solution for the delivery of the latest, evidence-based appropriate care.

The release includes new criteria for emergent trends, restructured and interactive criteria to streamline workflows and artificial intelligence (AI) to drive proactive insights and efficiency. All updates have been rigorously researched and independently peer reviewed, so users can feel confident that the criteria are free of bias.

The expansive suite of criteria features new additions and comprehensive content updates such as the inclusion of new American College of Cardiology and American Heart Association guidelines for the management of chest pain, expanded tools for transition planning and social determinants of health (SDOH) assessment for behavioral health patients, and a new content module (The ASAM Criteria Powered by InterQual) developed through an exclusive partnership with the American Society of Addiction Medicine (ASAM).

The release also incorporates streamlined workflows for health care providers and health plans alike. The new InterQual Decision Reasons add-on provides organizations easy access to content used to consistently and clearly communicate to patients why a service may not be clinically appropriate. With the addition of review-sharing functionality, providers can electronically share InterQual reviews with payers, eliminating manual authorization transactions.

Shore Capital launches Triumph Orthopedics

Shore Capital Partners has announced the founding of Nashville-based Triumph Orthopedics.

The company is a support organization for orthopedists that combines the guidance of orthopedic surgeons and physician board members with health care business leadership to help practices meet their goals.

Triumph brings the experience, resources, and capital to invest in partner practices to help realize their growth visions, the company states. Triumph partners with quality practices to deliver expertise in business development, finance, recruitment, benefits, marketing, and other practice administration to help enhance orthopedists’ ability to provide the highest quality of patient care. Triumph is led by CEO Nate Bard, who is an experienced health care executive with a background in development and finance.

Triumph, has assembled an experienced team of business and growth experts including Chief Financial Officer Scott Matthews and Chief Human Resources Officer Stephanie Truitt. In addition to the team, Triumph’s board of directors is led by two experienced orthopedic surgeons – Drs. Richard Hawkins and Tom Price, and two physicians with experience in building a platform company in their respective specialties – Drs. Gino Gabianelli and Steve Morris.

MTSU’s economics Ph.D. earns U.S. News ranking

MTSU’s economics graduate program within the Jennings A. Jones College of Business has made the U.S. News and World Report ranking of top U.S. programs for the first time.

MTSU’s program is ranked No. 134 on the list of the nation’s 139 top programs for 2022. Tied for the top ranking was Harvard University, Massachusetts Institute of Technology and Stanford University. The other Tennessee universities making the list are Vanderbilt University (No. 30) and University of Tennessee-Knoxville (No. 79).

Full list.

Follow us on Facebook, Twitter & RSS:
Sign-Up For Our FREE email edition
Get the news first with our free weekly email
TNLedger.com Knoxville Editon