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Morning Headlines 6/9/16

June 8, 2016 Headlines 1 Comment

Connecture buys exchange competitor ConnectedHealth

Connecture, a technology company that builds online health insurance marketplaces, acquires ConnectedHealth, a benefits technology platform that helps employers chose health plans. Financial terms were not disclosed.

Will genetic tests help prevent chronic diseases?

Cerner launches a one-year pilot study that will help determine whether patient’s genetic data can play a motivating role in promoting behavior change.

Three more Phoenix VA officials fired in aftermath of wait-time, retaliation probes

The VA has formally fired three more administrators within the Phoenix VA Health Care System. Lance Robinson, assistant director at the Carl Hayden VA Medical Center; Brad Curry, the chief of Health Administration Service; and Dr. Darren Deering the hospital’s chief of staff were all terminated for “negligent performance of duties and failure to provide effective oversight."

Prescription Drug Monitoring Programs Are Associated With Sustained Reductions In Opioid Prescribing By Physicians

A Health Affairs study correlates the use of prescription drug monitoring programs with a 30 percent reduction in the rate of prescribing Schedule II opioids, a change that continued in the second and third years following the launch of the program.

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Currently there is "1 comment" on this Article:

  1. A quick back of the envelop calculation on the NantHealth IPO, it IPO’d at a price of $14 and soared 45% only to fall back to $15.61. Normally, an IPO is good for shareholders, except this one looks like a bit of a down round. Allscripts paid $200 MM at a $2 Billion valuation for NanthHealth.

    Allscripts current value based on a $15.61 share price…… $167.7 MM. That amounts to a roughly $32 MM writedown. OOPS!

    I have been fairly negative in the past about Allscripts ability to deliver given the shear number of products, but I have officially turned short on their stock. Delivery issues could have been corrected, but a huge $200 MM investment in a company that’s hemorrhaging cash is an opportunity to make money in my opinion. Especially if NH follows NantKWest’s path and drops 80%. Turning $200MM into $40MM would be a difficult item for Allscripts shareholders to bear. Paul Black appears to be running Allscripts more like a VC (his former background) than a software company. New financials are due by July with their new JV. I’m really unclear on the value of JV only that in the past my experience has been they are difficult to manage and often lead to a drop in company value.

    Looks like I’m not the only one to be shorting Allscripts either as they have 12.8% shares short as a % of float as of May 13. It was a difficult to decision to change direction on this, but the time’s right given their poor leadership direction on investments.

    * Disclosure I am actively shorting Allscripts and will be adding to my position over time







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