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Morning Headlines 11/4/15

November 3, 2015 Headlines No Comments

$2.7 billion MedAssets sale shakes up healthcare group-purchasing market

Private equity firm Pamplona Capital Management acquires MedAssets for $2.7 billion, absorbing its revenue cycle management business and selling its group purchasing and consulting business to the VHA-UHC Alliance.

VA team blasts Phoenix personnel office

A task force sent by the VA’s headquarters to help reform the Phoenix VA medical center, which was at the center of the patient wait-time scandal last year, was sent back to Washington DC by the hospital’s director. The team reports that the Phoenix VA is being run by “a leadership team that displayed obstructionist attitudes, and clearly lacked integrity.”

Medical Information Technology, Inc. Form 10-Q

Meditech reports Q3 results: revenue down 3.5 percent to $119 million, EPS $0.37 vs. $0.50. Net income dropped 26 percent to $13.5 million.

Teladoc Announces Third Quarter 2015 Results

Telehealth vendor Teladoc announces Q3 results: revenue is up 83 percent to $20 million, EPS –$0.37 vs. –$2.68, meeting expectations on both. The company booked a quarterly net loss of $13.2 million. Share prices fell 10 percent in trading Tuesday.

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