Morning Headlines 1/27/23

Pearl Health raises $75M Series B led by a16z to accelerate growth and innovation in value-based care

Pearl Health, which offers population health analytics software for providers who participate in value-based care for Medicare patients, raises $75 million in a Series B funding round.

Elaborate Announces $10M in Funding to Modernize Lab Results

Elaborate, which uses EHR information to deliver contextualized lab result messages to patients, raises $10 million in seed funding.

Attorney General Merrick B. Garland Delivers Remarks on the Disruption of Hive Ransomware Variant

The Department of Justice says that it has infiltrated and dismantled the Hive international ransomware group, whose victims include at least one hospital that paid the demanded ransom to restore its systems.

IBM planning to cut almost 4,000 jobs from spin-off of company, divestment from analytics business

IBM will lay off 3,900 employees as it adjusts to the 2021 spinoff of its IT infrastructure company and the 2022 sale of Watson Health to Francisco Partners.

Morning Headlines 1/26/23

Computer problems slow Spokane VA after Defense Department update to electronic health record system

An update to the VA’s Oracle Cerner system caused a temporary “system degradation” that resulted in lag time for users in between clicks and screen advancement.

Digitisation of health service is being impeded by ‘bad actors’, former department head says

In Ireland, Health Service Executive Director Martin Curley resigns after four years, citing a lack of vision amongst his peers to implement a national EHR, despite funding being available for the past three years.

St. Margaret’s Health in Peru closing temporarily due to financial reasons

St. Margaret’s Health (IL) closes temporarily, citing financial hardship that some have attributed to a 2021 cyberattck that led to a slowdown in billing and payment processes.

Morning Headlines 1/25/23

St. Joe’s to go ‘fully paperless’ after misdirected faxes, privacy breaches

In Canada, St. Joseph’s Healthcare Hamilton implements a ‘digital first, no fax policy’ after an audit by Ontario’s privacy commissioner finds misdirected faxes were the cause of 563 privacy breaches in 2020.

Tiger Global-backed Innovaccer lays off 15% staff amid structural rejig

Innovaccer lays off 245 employees, 15% of its workforce, just four months after a layoff round that impacted 120 staffers.

Revive Health acquires virtual care services firm SwiftMD

ReviveHealth, a virtual care company that caters to individuals and employer groups, acquires competitor SwiftMD for an undisclosed sum.

Morning Headlines 1/24/23

Rx Redefined Raises $8M in Funding to Improve the Experience for Patients Prescribed Recurring Use of Essential Medical Supplies

Rx Redefined, which offers group practices the tech-based ability to directly manage the ordering and mailing of medical supplies to patients, raises $8 million in a Series A funding round.

Elizabeth Holmes made an ‘attempt to flee the country’ after her conviction, prosecutors say

Disgraced Theranos founder Elizabeth Holmes reportedly attempted to flee the country after her January 2022 fraud conviction.

DCH Health System fires employee after medical records security breach

DCH Health System in Alabama notifies 2,530 patients of a series of data breaches over the last two years initiated by an unauthorized employee.

Morning Headlines 1/23/23

Fitch Downgrades Marshfield Clinic Health System (WI) Ratings to ‘BBB+’; Outlook Negative

Fitch Ratings downgrades the bonds of Marshfield Clinic Health System, blaming its Oracle Cerner implementation for aging receivables, throughput errors, lower collections, and an unexpected level of productivity disruption that has impacted top-line revenue.

Electronic health record giant NextGen dealing with cyberattack

NextGen secures its network and returns to normal operations after a ransomware attack on Tuesday.

HealthLynked Announces Sale of ACO Health Partners

HealthLynked, a membership-based, tech-enabled healthcare network, will sell its ACO Health Partners subsidiary to PBACO Holding for up to $3 million.

Morning Headlines 1/20/23

Bayer acquires AI imaging company Blackford Analysis to bolster radiology portfolio

Bayer acquires Scotland-based Blackford Analysis, which offers radiology and imaging AI tools.

State proposes $105 million to update Medical College of Georgia’s electronic records

Georgia legislators consider approving $105 million to help Augusta University Health affiliate Medical College of Georgia implement Epic

Top 10 Health Technology Hazards for 2023 Executive Brief

Communication challenges around the notification of recalls by medical device manufacturers tops ECRI’s annual list of health technology hazards.

Morning Headlines 1/19/23

Arrive Health Creates First-of-Its-Kind Medication Access Solution with Acquisition of Pharmacy Technology from UPMC Enterprises

Arrive Health, which specializes in medication cost and benefits coverage data, acquires patient engagement and automation technologies from UPMC Enterprises and the UPMC Pharmacy Network.

Teladoc Health cuts 300 jobs to shave costs

Teladoc Health cuts 300 non-clinical jobs as it refocuses business development efforts on primary care, chronic conditions, and online counseling services.

Microsoft is laying off 10,000 employees

Microsoft, which acquired Nuance in 2022 for $18 billion, will lay off 10,000 employees through March in anticipation of slower revenue growth.

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Morning Headlines 1/18/23

VCU Health launches Home Hospital, the first hospital-at-home program in central Virginia

VCU Health develops a hospital-at-home program that will offer acute care patients the ability to receive care at home via video, remote patient monitoring, and house call visits from care teams.

Ferrum Health Raises $6 Million to Bring Artificial Intelligence into Healthcare

AI-powered healthcare analytics startup Ferrum Health raises $6 million.

Apps want to be your new doctor’s office. Is that a good idea?

The Washington Post looks at the use of smartphone apps that collect patient clinical measures and send them to doctors, concluding that if the AI/ML they use requires doctors to interpret the results, the apps can’t really solve access and cost issues.

Morning Headlines 1/17/23

Viemed on the rise following $2M investment in ModoHealth

In-home medical device and post-acute respiratory care company Viemed invests $2 million in ModoHealth, which offers value-based care and patient management software.

Why We Became a Public Benefit Corporation

Independent primary care practice management and optimization company Aledade transitions to a public benefit corporation.

Alabama medical billing company pays to resolve false claims allegations

Medical billing company Amvik Solutions will pay $153,000 to settle federal allegations that it improperly billed Medicaid for applied behavior analysis services on behalf of customer Helping Hands Academy.

Morning Headlines 1/16/23

GAO rules Booz Allen has no conflict in $860M VA award

The Government Accountability Office rejects bid protests involving the VA’s selection of Booz Allen to continue managing its Oracle Cerner implementation for another five years.

Definitive Healthcare lays off 6% of staff despite revenue growth

Healthcare market intelligence company Definitive Healthcare, which went public in 2021, will lay off 55 employees as it struggles to balance hiring and expenses with revenue.

Owensboro Health and Optum Launch Comprehensive Partnership to Enhance Patient Care and Experience in Western Kentucky and Southern Indiana

Owensboro Health (KY) outsources revenue cycle management and IT to Optum, which will take on 575 health system employees.

Morning Headlines 1/13/23

Censinet Secures $9M in New Funding to Accelerate Third Party Risk Management in Healthcare

Healthcare risk management company Censinet raises $9 million in new funding, bringing its total raised to $22 million.

Talent Group Acquires Queen Consulting Group

IT staffing company Talent Group acquires Queen Consulting Group, which specializes in pharma and healthcare IT, including EHR implementations.

Alpine Investors Announces Partnership with Leading Revenue Cycle Management Provider, Medusind

Alpine Investors acquires RCM, practice management, and analytics company Medusind from HIG Capital.

Morning Headlines 1/12/23

Array Behavioral Care Secures $25 Million from CVS Health to Help Address National Mental Health Crisis through Virtual Care

Telepsychiatry provider Array Behavioral Care raises $25 million in a Series C funding round led by CVS Health, which will look for ways in which Array’s capabilities can complement its own healthcare delivery services.

OpenLoop Acquires Reliant.MD Practice Group, Expanding Services and Strengthening Position in Insured Care Market

OpenLoop, a white label telehealth services company focused on payers and employers, acquires Reliant.MD’s practice group.

Alphabet to cut staff of health sciences unit Verily by 15%

Verily will lay off 240 employees and shutter several product lines, including remote patient monitoring for heart failure, in an effort to streamline operations and achieve financial independence from parent company Alphabet.

Morning Headlines 1/11/23

LeanTaaS Acquires Hospital IQ to Create AI Innovator for Hospital Operations Optimization

Capacity management and patient flow software vendor LeanTaaS acquires Hospital IQ, which offers hospital automation solutions.

Avel eCare Announces the Acquisition of NightWatch to Expand Pharmacy Telemedicine Services

National telemedicine provider Avel ECare acquires after-hours remote pharmacy service NightWatch.

20 Ontario Hospitals Transition to Meditech Expanse as Members of the ONE Shared Service Organization

In Canada, 23 hospitals form a shared services IT organization as they implement a shared instance of Meditech Expanse.

Morning Headlines 1/10/23

Carbon Health Secures Series D Investment to Drive Primary and Urgent Care Expansion

Carbon Health announces a $100 million investment from CVS Health Ventures as part of a Series D funding round, and that CVS will pilot the primary care company’s operating model and software within several of its CVS Health locations.

Veradigm Announces Strategic Investment in Holmusk

Behavioral health clinical database company Holmusk raises $45 million in a Series B funding round led by Veradigm.

Monogram Health Closes $375M Growth Capital Raise to Support Continued Expansion of Innovative In-Home Kidney and Polychronic Care Model

Tech-enabled kidney care company Monogram Health raises $375 million, bringing its total raised to $547 million.

CVS Is Exploring a $10 Billion-Plus Acquisition of Oak Street Health

Bloomberg reports that CVS Health may acquire senior-focused primary care provider Oak Street Health in a deal that could be worth $10 billion.

Morning Headlines 1/9/23

Carbon Health to cut more than 200 jobs, narrow focus

Primary and urgent care company Carbon Health lays off 200 employees and will end its initiatives in public health, remote patient monitoring, and chronic care.

Walgreens Boots Alliance (WBA) Q1 2023 Earnings Call Transcript

Walgreens says during its most recent earnings call that it will pause M&A activities short term and will eventually consider smaller acquisitions that advance its core business, stressing that it won’t “go out and do a $2 billion or $3 billion acquisition on a health tech company.”

Codex IT Acquires Utah Managed Services Provider

Healthcare IT consulting and managed services company Codex IT acquires competitor Intranet Consulting.

Morning Headlines 1/6/23

KeyCare Completes $27M Series A Investment Round to Expand Adoption and Grow Capabilities of its Epic-based Virtual Care Platform

Epic-integrated virtual care platform vendor KeyCare completes its $27 million Series A funding round.

Onc.AI Raises $25 Million Series A Financing Co-Led by MassMutual and Action Potential Venture Capital

Onc.AI, which offers a medical oncologist clinical decision-making platform, raises $25 million in Series A funding.

Porter Raises $5.4M in Seed Funding

Porter, a Miami-based software and services startup specializing in care coordination and quality optimization, raises $5 million in seed funding.

Careficient Acquires Home Health, Hospice, Home Care, Palliative and RCM Solutions and Services from Net Health

Home health, hospice, and home care management company Careficient acquires Net Health’s HealthWyse, Hospicesoft, and RCM division.

Morning Headlines 1/5/23

HealthStream Acquires Electronic Education Documentation System, LLC (d/b/a “eeds”)

Healthcare workforce management company HealthStream acquires continuing education management vendor Electronic Education Documentation System for $7 million.

CommonSpirit Health sued over data breach involving 600,000 patients

Multistate CommonSpirit Health faces a proposed class action lawsuit over its alleged negligence in protecting the private data of 600,000 patients during an October ransomware attack.

Salesforce to cut workforce by 10% after hiring ‘too many people’ during the pandemic

CRM software vendor Salesforce, which includes healthcare among its verticals, will lay off 7,000 employees and close offices in certain markets.