Morning Headlines 11/15/23

Henry Schein Reports Third-Quarter 2023 Financial Results and Updates Full-Year Guidance

The medical supply vendor misses estimates for both revenue and earnings and lowers guidance even though the quarter was over before its October cyberattack.

UnitedHealth pushed employees to follow an algorithm to cut off Medicare patients’ rehab care

The company reportedly threatened to fire employees who failed to hit targets to limit the rehab care of Medicare Advantage patients to an algorithm-predicted appropriate number of days.

The Next WebMD: An LLM as Your Front Door to Healthcare

A16Z predicts that the model of Googling symptoms and then asking a medical friend or relative could be replaced by AI chatbots that could refer people to a marketplace of services offered for sale, giving the LLM company control of revenue streams worth billions.

AristaMD and Sitka Form Single Company, Secure Series C of $16.5M for the Expansion of Specialty Care Access via Electronic and Video Consultation Services

EConsult and referral management solution provider AristaMD acquires Sitka, which offers a platform for primary care providers to request video consultations from specialists.

Morning Headlines 11/14/23

Governor Hochul Announces Proposed Cybersecurity Regulations for Hospitals Throughout New York State

New York State will require hospitals to establish a cybersecurity program, implement protective measures, assign a chief information security officer role, and implement two-factor authentication for external access, with the plan including $500 million in available grants to help fund compliance.

Dutch hospital uses AI to answer patients’ questions

Groningen University’s teaching hospital UMCG rolls out chatbot to help answer patient questions, which scans their records and providers a clinician-reviewed response in what the hospital says is the first such use in Europe.

How Generative AI Could Help Us Predict the Next Pandemic

Harvard researchers develop an AI tool that can predict the emergence of concerning variants of COVID-19 and other viruses.

A majority of Americans are optimistic that AI will improve healthcare in 2024

A survey of randomly sampled Americans find that half expect AI to create major advancements in healthcare next year, especially in diagnosis and access, although few of them would prefer to work with a doctor who uses AI extensively.

Morning Headlines 11/13/23

Thoma Bravo Completes Acquisition of NextGen Healthcare

The private equity firm takes NextGen Healthcare private in closing its $1.8 billion acquisition.

Doximity Announces Fiscal 2024 Second Quarter Financial Results

The medical professional network beats expectations for revenue and earnings.

MUHC clinical platform crashes, patient appointments cancelled

A software update takes down the Oacis clinical platform of McGill University Health Centre. 

Cano Health Announces Financial Results for the Third Quarter 2023

A $92 per share loss by the value-based primary care company raises questions about its ability to remain in business.

Morning Headlines 11/10/23

IHS Selects New Enterprise Electronic Health Record System

Indian Health Service chooses General Dynamics Information Technology and Oracle Health for its new EHR, which will replace its VistA-based RPMS.

Attorney General James Secures $450,000 from Medical Company Providing Services in Western New York for Failing to Protect Patient Data

US Radiology pays $450,000 to settle New York State charges that outdated computer hardware allowed a ransomware attack that exposed the information of 92,000 state residents.

Elucid Raises $80 Million in Series C Round Led by Elevage Medical Technologies

AI-powered imaging analysis software company Elucid announces $80 million in Series C funding, bringing its total raised to $121 million.

Morning Headlines 11/9/23

Behavioral Health AI Leader Eleos Health Raises $40M Series B Round to Expand CareOps Automation Footprint

Eleos Health, which offers behavioral healthcare providers AI-powered clinical documentation and insights software, raises $40 million in a Series B funding round.

Health AI startup Cercle debuts with backing from Sheryl Sandberg

Former Meta COO Sheryl Sandberg and other high-profile investors launch Cercle, which uses AI to support women’s health and organizes unstructured medical data into a standard format to help clinicians develop personalized treatment plans.

Sauk Prairie Healthcare is the latest company hit with cyber attack

Sauk Prairie Healthcare (WI) restores its computer systems after a cyberattack last week forced it to initiate downtime procedures and reschedule appointments.

Therapy iQ Secures $1.5 Million in Seed Funding to Revolutionize Mental Health Practice Management

Mental health practice management startup Therapy IQ raises $1.5 million in seed funding.

Morning Headlines 11/8/23

Bain to Buy Guidehouse in $5 Billion Deal

Bain Capital will acquire healthcare consulting firm Guidehouse from Veritas Capital for $5.3 billion.

Kythera Labs Announces $20 Million Funding to Accelerate Growth of its Wayfinder Data Technology Platform

Healthcare data insights company Kythera Labs raises $20 million in a Series A funding round.

23andMe data theft prompts DNA testing companies to switch on 2FA by default

The recent theft of 23andMe customer data prompts the company and several competitors to begin requiring customers to use two-factor authentication when signing into accounts.

Morning Headlines 11/7/23

Surescripts Acquires ActiveRADAR to Offer Therapeutic Alternatives for Prescriptions

Surescripts acquires ActiveRadar and its Clinical Catalogue of therapeutic alternatives data.

Health Catalyst Acquires ERS, Bolsters Tech-Enabled Managed Services Offering with Data Abstraction and Oncology Registry Management Capabilities

Health Catalyst acquires Electronic Registry Systems, which specializes in cancer registry services and software.

CareCloud Reports Third Quarter 2023 Results

CareCloud expects layoffs, set to wrap up by the end of the year, to help offset a 13% decline in Q3 revenue.

Morning Headlines 11/6/23

Cyber gang threatens to release Henry Schein data in ransomware attack

Ransomware hackers claim to have taken Henry Schein down again, two weeks after the medical supply distributor’s systems went offline from a similar attack that it reported on October 15.

Avail Medsystems abruptly shuts down

Avail Medsystems, which offers technology that virtually connects medical device reps with operating rooms, shuts down after reportedly failing to secure a needed funding round.

Blackbird invests in Carepatron’s ‘radically accessible’ healthcare management platform

Healthcare operating system startup Carepatron raises $4 million in seed funding, which it will use to develop AI and automation features.

Morning Headlines 11/3/23

Lawsuit Challenges Federal Rule That Ties Providers Hands in Efforts to Reach Their Communities

The American Hospital Association, Texas Hospital Association, Texas Health Resources, and United Regional Health Care System sue the federal government over an HHS rule that prohibits health systems from using web user tracking tools such as Meta Pixel and Google Analytics.

Covera Health Announces Up to $50M in Additional Series C Funding to Redefine the Role of Radiology Nationwide

AI-enabled radiology performance measurement software vendor Covera Health raises up to $50 million in a Series C funding round and finalizes its acquisition of CoRead, a hospital AI quality assurance company.

Patient data published following cyberattack against southwestern Ontario hospitals

Five hospitals in Ontario confirm that patient data that was stolen in a recent ransomware attack against their self-created shared services organization has been published online.

Morning Headlines 11/2/23

AdaptX raises $10M to expand its AI-driven medical data analysis for healthcare providers

AdaptX, which offers AI-powered EHR analytics tools, raises $10 million in funding.

Tabula Rasa HealthCare Stockholders Approve Acquisition by Nautic Partners

Private equity firm Nautic Partners acquires pharmacy services and medication management vendor Tabula Rasa HealthCare and will merge it with its ExactCare Pharmacy business.

Waystar delays US IPO to ride out market volatility

Sources report that Waystar will delay its IPO until early next year.

VA to launch artificial intelligence contest to help health care staff

The VA will launch an AI Tech Sprint competition with $1 million in prizes to discover AI-powered solutions for healthcare worker burnout.

Morning Headlines 11/1/23

Olive announces sale to Waystar and Humata Health

Healthcare robotic process automation vendor Olive AI shuts down after selling its clearinghouse and patient access assets to Waystar and its prior authorization line to Humata Health.

A Surging Epidemic: Metabolic Disease Rates Soar in Middle America – PreventScripts Secures $1.5 Million Funding to Arm Physicians with New Tools

Automated preventive health software startup PreventScripts raises $1.5 million in funding.

Patient Engagement Pioneer Rx.Health Joins Commure

Commure acquires Mount Sinai spinoff Rx.Health and will integrate the company’s care coordination software with its Commure Engage automated care coordination technology.

IKS Health Purchases AQuity Solutions to Create the Most Comprehensive Provider of Administrative, Clinical and Financial Services for Healthcare Organizations in the U.S.

Ambulatory-focused health IT vendor IKS Health acquires AQuity, which offers acute care organizations clinical documentation, coding, and RCM software and services, for $200 million.

Morning Headlines 10/31/23

HHS Proposes Rule to Establish Disincentives for Health Care Providers that have Committed Information Blocking

HHS proposes information-blocking penalties for providers that include loss of Meaningful User status and an inability to participate in ACOs, all of which would result in some impact to a healthcare organization’s bottom line.

Vizient Announces Acquisition of PrefTech OR, a Next-generation Physician Preference Card Management Technology

Healthcare performance improvement company Vizient acquires PrefTech OR, which offers operating room optimization software.

Kento Health Raises $4.1 million CAD to Bring AI to Cardiovascular Care

Canada-based Kento Health will use $4.1 million in new funding to bring its AI-powered cardiovascular care software to the US market.

Morning Headlines 10/30/22

TT Capital Partners Announces Investment in Cantata Health Solutions

TT Capital Partners acquires a majority share of Cantata Health Solutions, which offers health technology for providers of behavioral health, human services, acute care, and post-acute care.

Spok Reports Third Quarter 2023 Results

Spok reports Q3 results: revenue up 5%, EPS $0.22 versus $0.15.

Health Catalyst Reports Third Quarter 2023 Preliminary Results

Health Catalyst reports an 8% jump in Q3 revenue to $73.8 million, leading it to expect annual revenue of between $291 million and $296 million.

Morning Headlines 10/27/23

Abridge raises $30M to Accelerate Adoption of its Proven Generative AI Solution across U.S. Healthcare Systems

Abridge, whose software converts patient-clinician conversations into clinical documentation, raises $30 million in a Series B funding round.

Critical Flaw in NextGen’s Mirth Connect Could Expose Healthcare Data

Cybersecurity experts recommend that users of NextGen Healthcare’s Mirth Connect interface engine upgrade to the latest version after discovering an unauthenticated remote code execution vulnerability.

Advocate Aurora Health agrees to settlement in data breach lawsuit

Advocate Aurora Health will pay $12 million to settle a lawsuit over its use of user tracking tools from Meta and Google on its website and MyChart patient portal.

SnapNurse Becomes SnapCare

AI-enabled workforce solutions vendor SnapNurse renames itself to SnapCare.

Morning Headlines 10/26/23

MIDAS Healthcare Solutions Extends Series A Round With New Investment by MCPC Healthcare Fund

Medication security technology vendor MIDAS Healthcare Solutions announces a $2 million investment from MCPC Healthcare Investment.

CISA, HHS Release Collaborative Cybersecurity Healthcare Toolkit

HHS and the Cybersecurity and Infrastructure Security Agency publish a new cybersecurity toolkit for healthcare and public health.

Greater Good gets $20M for value-based senior clinics

Senior-focused primary care company Greater Good Health raises $20 million in a Series A funding round, bringing its total raised to $33 million.

Morning Headlines 10/25/23

Network issue resolved after MultiCare temporarily suspends surgeries, procedures at some facilities

MultiCare recovers from a service outage that caused it to suspend surgeries and procedures at several facilities.

HealthEC Secures Additional Capital to Fuel Ongoing Growth, Names New CEO and New Chairman

Population health management services and technology vendor HealthEC announces a new round of capital and names Chris Caramanico (JJCAL) CEO.

5 southwestern Ontario hospitals hit by cyberattack, patient appointments to be rescheduled

In Canada, the IT systems of five hospitals that formed their own IT provider organization go offline due to a cyberattack.

Paragon Consulting Partners Becomes Paragon Health IT, Reflecting a Commitment to Enabling Evidence-Based Transformation of Digital Healthcare Services

Paragon Consulting Partners, which specializes in consulting and data services for medical imaging, rebrands to Paragon Health IT.

Morning Headlines 10/24/23

Perficient Reaches Definitive Agreement to Acquire SMEDIX, INC.

Digital consulting firm Perficient acquires San Diego-based Smedix, which offers cloud-based interface solutions for medical equipment and remote device management.

Ovation Healthcare Expands Portfolio with Launch of Tempo Technology Services

Ovation Healthcare launches Tempo Technology Services, a managed and IT services and procurement firm.

PicnicHealth Acquires AllStripes, Fortifying its Role as the Leader in Patient-Centered Healthcare Evidence Generation

PicnicHealth, which uses patient-reported data to build datasets for research, acquires rare disease data aggregator and research firm AllStripes for an undisclosed sum.