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Morning Headlines 6/13/18

June 12, 2018 Headlines No Comments

Private equity’s thirst for health care providers

Triggered by news of KKR’s planned acquisition of Envision Healthcare Corporation for $9.9 billion, a new report says that private equity firms love buying healthcare provider companies that wield a lot of market power, especially physician and ED staffing groups and air and ground ambulance companies.

Biotech’s Soon-Shiong hiring bankers for Nant cancer drug IPO

Billionaire doctor Patrick Soon-Shiong, MD says that despite the poor stock performance and heavy criticism of his two publicly traded companies NantHealth and NantKwest, he will IPO a new chemotherapy development company later this year.

GPB Capital Acquires Health Prime International, Building Upon its Healthcare IT Portfolio

Private equity firm GPB Capital acquires Maryland-based RCM/EHR vendor Health Prime International.

Moody’s says Lahey merger could help bond rating of Beth Israel parent

Moody’s downgrades the credit rating of Beth Israel Deaconess Medical Center parent CareGroup, citing concerns about its $534 million BIDMC expansion project and significantly lower margins at Mount Auburn Hospital following its $110 million FY2017 implementation of Epic.

Inspirata Acquires Health Analytics Company, Caradigm; Plans to Use its Award-Winning Platform to Accelerate Development of its Cancer Information Data Trust

Cancer informatics technology vendor Inspirata acquires Caradigm from GE Healthcare. Imprivata bought Caradigm’s identity management business in October 2017. Microsoft, originally a 50-50 Caradigm joint venture investor with GE Healthcare to which it contributed its Amalga data platform, sold its share to GE Healthcare in April 2016.

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