Morning Headlines 8/20/24

Buffalo startup raises $6.8 million

Sleep apnea-focused digital healthcare company Ognomy announces a $6.8 million seed funding round.

These techies are solving US healthcare challenges

Providence (WA) will hire an additional 2,000 staff at its IT hub in India by the end of 2025.

Well Health plans to spin out, publicly list SaaS and services business in 2025

Canadian healthcare provider and IT company Well Health will spin off and publicly list its Well Provider Solutions software business in the first half of next year.

Morning Headlines 8/19/24

Epic Commends Carequality

Epic expects all of its customers to go live on TEFCA by the end of 2025 using its Epic Nexus QHIN.

McLaren Health confirms ransomware attack, says recovery will last through August

McLaren Health Care (MI) reports that it will take another several weeks to fully recover from an August 4 ransomware attack.

Palomar Health Medical Group restores operations following cyberattack

Palomar Health Medical Group (CA) announces that it has fully restored its computer systems after a cyberattack discovered in early May forced them offline.

Morning Headlines 8/15/24

Caresyntax Raises $180 Million Funding to Accelerate Growth and Adoption of Precision Surgery

Precision surgery platform vendor Caresyntax raises $180 million in a Series C funding round.

Scaling Photon

Text-based prescription management software startup Photon announces $9 million in new funding, bringing its total raised to $16.4 million.

OmniSYS Becomes XiFin Pharmacy Solutions, Launches Pharmacy Payor Rate Transparency Monitor and Receives Industry Recognition with Pharmacy 500 Award

XiFin rebrands pharmacy technology business OmniSys to XiFin Pharmacy Solutions and announces plans to launch a visualization tool that will help pharmacies compare payer reimbursement rates.

Morning Headlines 8/15/24

Mosaic Health Introduced as a National Primary Care Delivery Platform

Elevance Health (the former Anthem) partners with PE firm Clayton, Dubilier & Rice to launch primary care delivery company Mosaic Healthcare.

Chartis Announces Majority Investment from Blackstone to Advance Mission of Healthcare Transformation

Blackstone acquires a majority stake in healthcare advisory firm Chartis, parent company of HealthScape Advisors, Jarrard, and Greeley.

Google Pixel Watch 3: bigger, brighter, fine-tuned for fitness

Google launches the Pixel Watch 3, whose health-related features include workout biometrics, cardiac tracking, planning and guiding tools for runners; and loss-of-pulse detection that can contact emergency services.

Morning Headlines 8/14/24

Veradigm collects initial bids for potential sale

Insiders report that Veradigm has received bids for a potential sale of the company following its announcement that it is seeking strategic alternatives.

CareCloud Reports Second Quarter 2024 Results

CareCloud reports Q2 results: revenue down 4%, EPS $-0.14 versus –$0.37, exceeding estimates for both.

Doximity First Quarter 2025 Earnings: Beats Expectations

Doximity reports Q1 results: revenue up 17%, EPS $0.22 versus $0.15, beating expectations for both and sending shares up sharply to a 52-week high.

Morning Headlines 8/13/24

Francisco Partners to Sell QGenda to Hearst in a More Than $2 Billion Exit

Hearst, parent company of the Hearst Health network of businesses, will acquire healthcare workforce management software vendor QGenda from Francisco Partners in a deal valued at between $2 billion and $3 billion.

Stryker announces definitive agreement to acquire care.ai, a leading virtual care and ambient intelligence solutions platform

Medical technology company Stryker acquires Care.ai, which specializes in smart healthcare facility and virtual care technologies.

Augmedix Delivers 27% Revenue Growth for Second Quarter of 2024

Ambient AI medical software vendor Augmedix, which will soon be acquired by Commure, sees a 27% increase in Q2 revenue but ultimately misses analyst expectations on earnings and revenue.

Morning Headlines 8/12/24

Five9 to Acquire Acqueon to Expand its Industry-Leading Omnichannel Outreach and Journey Orchestration for the Enterprise

AI-powered customer service technology vendor Five9 acquires Acqueon, which offers a revenue execution platform.

TrueClaim: The world’s first transparent, AI-enabled healthcare TPA (that doesn’t suck)

Former executives from Hinge Health, PMD, and Walgreens launch TrueClaim, an AI-enabled third-party administrator for self-insured companies that says it can save 7% of costs with no changes in benefits.

Massachusetts, California Weigh New Curbs on Private-Equity Medical Acquisitions

Massachusetts and California consider limiting private equity acquisitions of healthcare businesses, with the former proposing leverage limits and the latter considering mandatory state approval.

Morning Headlines 8/9/24

Health Catalyst Reports Second Quarter 2024 Results

Health Catalyst shares jump on the news of the company’s Q2 results, which beat analyst expectations, and its acquisition of care orchestration platform vendor Lumeon.

Walgreens May Sell Off Entire Stake In Clinic Operator VillageMD

Walgreens considers selling off all or part of its VillageMD primary care business, which it acquired in 2021 with an investment of $5.2 billion.

TruBridge Announces Second Quarter 2024 Results

Health IT company TruBridge reports a small uptick in Q2 revenue to $84.7 million, with revenue from its RCM solutions making up 64% of that total.

Rhysida Ransomware group claims to have breached Bayhealth Hospital in Delaware

The Rhysida ransomware group threatens to sell data stolen from Bayhealth (DE) unless the health system pays a ransom by August 14.

Morning Headlines 8/8/24

CVS’s stock drops as the healthcare-benefits business continues to hurt profits

CVS Health shares drop on the news of disappointing Q2 results, largely stemming from its lackluster Aetna health benefits business, and the ouster of Aetna EVP and President Brian Kane.

Roche considering divesting $1.9 bln cancer data startup, FT reports

Pharmaceutical company Roche is reportedly considering selling Flatiron Health, the oncology software and research company it acquired in 2018 for $1.9 billion.

McLaren hospitals disruption linked to INC ransomware attack

McLaren Health Care (MI) confirms that the recent disruption to its IT systems was caused by a ransomware attack led by the INC ransomware gang.

Morning Headlines 8/7/24

OneBlood’s Critical Software Systems Back Online Following Ransomware Event

OneBlood, a blood center that serves 250 hospitals in the Southeast, restores its critical software systems after a July 29 ransomware attack forced them offline.

Guidehealth Closes $14 Million Seed Round With Strategic Investment from Memorial Hermann Health System

Guidehealth, which specializes in value-based care programs that incorporate AI-enhanced technology and clinical services, announces $14 million in seed funding.

Epic Wins Motion for Attorneys’ Fees Against Patent Troll

A federal court orders a patent troll to pay the attorney fees of Epic, whose customers it had sued claiming patent infringement.

Morning Headlines 8/6/24

Tenet Healthcare to Sell Five Birmingham Hospitals to Orlando Health

Orlando Health will acquire Tenet Healthcare’s Brookwood Baptist Health (AL) for $910 million and will enter into a 10-year contract with Tenet’s RCM vendor, Conifer Health Solutions, for revenue cycle services for the newly acquired system.

OneBlood software partially restored after ransomware attack

OneBlood’s software systems begin operating at a reduced capacity after a July 29 ransomware attack forced them offline.

Technical issue disrupts computers, phones for McLaren Health Care system

McLaren Health Care (MI) announces an unspecified IT issue has taken down its computers and phone lines.

Morning Headlines 8/5/24

Criminal Division Corporate Whistleblower Awards Pilot Program

The Department of Justice launches a program that pays corporate whistleblowers up to 30% of the first $100 million of assets forfeited.

EnableComp Acquires ANI Healthcare Solutions, Expanding Its Denial Management Solutions Within Its Award-Winning Specialty RCM Platform

RCM vendor EnableComp acquires San Francisco-based ANI Healthcare Solutions, a competitor that specializes in denials management.

Many online pharmacies selling weight loss products illegally: Study

Researchers determine that consumers are increasingly turning to illegal online pharmacies for semaglutide products, obtaining weight-loss medications without prescriptions and/or receiving products that pose risks to patient safety.

Morning Headlines 8/2/24

R1 RCM to be Acquired by TowerBrook and CD&R for $8.9 Billion

Private equity firms CD&R and TowerBrook will take R1 RCM private at a valuation of $8.9 billion.

WeightWatchers Cuts Jobs, Weighs Selling Copycat Obesity Drugs

In the wake of disappointing Q2 results, WeightWatchers announces plans to lay off staff and potentially sell knockoff prescription weight-loss drugs via the weight management telehealth company it acquired last year for $132 million.

Federal suits stemming from Geisinger data breach likely to be consolidated

Ten federal lawsuits related to a November 2023 Geisinger data breach allegedly perpetrated by a former Nuance employee will be consolidated into one class-action lawsuit.

Morning Headlines 8/1/24

Spring Health Announces $100 Million Series E Funding to Accelerate Growth and Expand Global Access to Mental Healthcare

Spring Health, which offers digital mental healthcare programs to employers and payers, achieves a $3.3 billion valuation with a $100 million Series E funding round led by Generation Investment Management.

OneBlood Target of Ransomware Event

Blood donation and distribution non-profit OneBlood advises the hundreds of hospitals it serves to implement critical blood shortage protocols as it deals with a ransomware attack.

Following Sale to New Owners, Eye Care Leaders Becomes Sightview Software and Commits Additional Investment to All Products

Eye practice software vendor Eye Care Leaders sells itself to new owners and renames the company Sightview Software.

Teladoc (NYSE:TDOC) Misses Q2 Revenue Estimates, Stock Drops 15.6%

Teladoc Health shares drop on news of the company’s Q2 revenue and earnings, the former of which fell short of analyst expectations.

Morning Headlines 7/30/24

AvaSure to Acquire Ouva’s AI-Powered Smart Room Solutions

Acute virtual care company AvaSure will acquire Ouva’s AI-enhanced care automation technology.

Concentra Shares Slump After $529 Million US IPO

Occupational healthcare company Concentra raises $529 million in its IPO, $56 million shy of its intended goal.

Optum laying off 364 California healthcare workers, shuttering urgent cares

UnitedHealth Group’s Optum care delivery business will lay off 525 employees and close several urgent care clinics and physician practices in California beginning in mid-September.

Morning Headlines 7/29/24

US indicts North Korean hacker accused of helping extort US hospitals

The US State Department indicts an alleged North Korean government-backed hacker who it says was behind ransomware attacks on hospitals in Florida and Kansas, healthcare firms in Arkansas and Connecticut, and a medical clinic in Colorado.

Google drops Amazon’s One Medical

Google, the largest customer of Amazon-acquired primary care provider One Medical, will terminate its agreement with the company.

OneMedNet Announces $4.6 Million Private Placement

Health data management and research insights company OneMedNet secures $4.6 million in new funding.

Alphabet’s Health Tech Co. Verily Moves Headquarters from California to North Texas

Verily will re-locate its headquarters from San Francisco to its existing office in Dallas-Forth Worth, where it plans to double its employee headcount.

Morning Headlines 7/26/24

HHS Reorganizes Technology, Cybersecurity, Data, and Artificial Intelligence Strategy and Policy Functions

HHS reorganizes to give ONC broader responsibility over technology, cybersecurity, data, and AI.

QuVa Pharma Completes Acquisition of LogicStream Health Combination Creates Integrated Platform of Compounded Medications, Distribution Services, and AI-Powered Data Solutions

QuVa Pharma acquires hospital pharmacy-focused predictive analytics company LogicStream Health.

Financial Management Systems: VA Should Improve Its Risk Response Plans

A GAO report finds that the VA is struggling with its implementation of a replacement benefits administration system, with estimates of total cost ballooning to $7.7 billion versus the VA’s estimate of $2.5 billion in 2019.

Astrana Health Enters Definitive Agreement to Acquire Collaborative Health Systems

Astrana Health (formerly known as Apollo Medical Holdings) will acquire Centene business Collaborative Health Systems, a management services organization for independent primary care practices.

CoachCare Announces $48 Million Investment Led By Integrity Growth Partners

Remote patient monitoring and virtual care company CoachCare secures $48 million in an investment round led by Integrity Growth Partners.