The American Hospital Association and Association of American Medical Colleges have filed an amicus brief in support of the New Jersey health systems that are appealing a court decision to delay their merger following a legal challenge from the FTC.
If the merger is approved, the combined health system will operate 33 hospitals and 385 clinics across six states. The merger also represents the joining together of a faith-based organization, SCL Health, and a secular entity, Intermountain.
The FTC sued to block the merger between the two New Jersey-based health systems and won a preliminary injunction earlier this month. But the providers believe that the merger would not raise prices or stifle competition — like the FTC alleges it would — and have filed an appeal.
CORHIO and Health Current, based in Colorado and Arizona respectively, have formed a new regional organization. Called Contexture, the organization aims to advance interoperability across state lines, while also driving growth and innovation.
With a goal of making precision medicine the standard of care at health systems, Sema4 struck a nearly $800 million deal with CM Life Sciences to go public. The company, which offers tools that combine genomic and clinical data to glean patient care insights, will get $500 million in cash proceeds to grow its business.
Though the number of merger and acquisition deals in the first quarter of 2021 fell below historical averages, the size of the deals was far bigger than the same period last year, a new report from Kaufman Hall shows. The total transacted revenue was $8.8 billion, the second-highest Q1 figure in the last five years.
Shots: ACEA to receive up to ~$38M in shares of Sorrento common stock, $450M as additional payments upon the achievement of clinical & sales milestones along with 5 – 10% royalties based on annual sales of each product. The acquisition is expected to close in Q2’ 21 The acquisition includes Abivertinib, AC0058, AC0939, and ACEA’s …
After going public through a SPAC merger last year, SOC Telemed bought acute telemedicine provider Access Physicians for $194 million. The deal is expected to bolster the company’s specialty consults and telemedicine services for hospitals.
The Federal Trade Commission is no longer opposing the proposed merger between Einstein Healthcare Network and Jefferson Health. Nearly three years after it was first announced, the deal can now move forward uncontested and will result in an 18-hospital system.
Shots: 23andMe signs a SPAC merger with VGAC for an enterprise value of ~$3.5B, including $509M in cash in trust account and $250M PIPE of common stock at $10.00/share If no public shareholders of VGAC exercise their redemption rights, 23andMe will be capitalized up to $984M in cash to fund operations & support growth initiatives. …
Optum, a subsidiary of insurance giant UnitedHealth Group, agreed to buy healthcare technology company Change Healthcare for $13.5 billion in cash. The acquisition will add data analytics, research and revenue cycle management offerings to Optum’s service roster.
After European regulators signed off on the deal, Australian regulators rejected a proposal by Google to assuage concerns about its proposed acquisition of Fitbit. They will continue their investigation of the merger through the end of March.
The South Dakota-based health system has suspended talks related to its planned merger with Utah-based Intermountain Healthcare after the sudden departure of its CEO, Kelby Krabbenhoft. Sanford and its new CEO will instead focus on organizational needs, the system said.
If the merger is approved, the combined health system would operate 70 hospitals and employ 89,000 people. Intermountain CEO Dr. Marc Harrison would lead the new system, estimated to generate about $15 billion in annual revenue.
After Teladoc and Livongo merge, several of the company’s top executives, including CEO Zane Burke and President Dr. Jennifer Schneider, will leave the combined company, according to a recent filing.
On Episode 143 of Health in 2 Point 00, we have all the alphabets in the raising series represented ;)! Jess asks me about Lumeon raising a $30M Series D for their care orchestration centers, Nurx raising a $22M Series C to develop out its online pharmacy presence, Thirty Madison getting $47M and Johnson & …