Morning Headlines 8/12/15

Newport Health Solutions, North Shore-LIJ Sign Letter of Intent to Pursue Joint Venture to Further Develop “Health Connect” Network Technology in NY

North Shore-LIJ Health System (NY) and population health vendor Newport Health Solutions have signed a joint venture agreement to deploy and further develop Newport’s platform across the North Shore-LIJ system, and then collaboratively market the platform commercially.

Health minister says he read riot act to IT leaders over megaproject problems; IBM out, Cerner in

In Canada, British Columbia’s health minister Terry Lake reports that IBM has been fired from the province’s 10-year, $640 million integrated EHR project, and that Cerner has been named as the replacement vendor.

Castlight Health Announces Second Quarter 2015 Results

Castlight Health reports Q2 results: revenue increased 76 percent to $18.5 million but the company still closed out the quarter with an adjusted net loss of $17.6 million and adjusted EPS –$0.19 vs. –$0.21.

UNC Health Care on pace to double budgeted operating income

UNC Health Care reports that it is closing out its fiscal year with $120 million in operating income, 142 percent higher than the $50 million it had forecasted. The health system gives partial credit for the financial turnaround to its now complete Epic implementation, which it says has had a positive impact on its overall financial performance.