...A busy M&A week for a change with Transcarent, VillageMD, and WW buys. Will Theranos’ investors see a penny in restitution? All while prison dates loom for Holmes and Balwani. Plus digital switchover/TECS meetings courtesy of UKTelehealthcare, Best Buy’s move into hospital-at-home, and Color pop health/testing says bye to 300. News roundup: Transcarent buys 98point6’s virtual care; Best Buy-Atrium hospital-at-home; Walgreens/VillageMD buys another practice group; WW-Sequence digital weight management; UKTelehealthcare events; 300 out at Color Did Theranos collapse because of Holmes’ criminal conduct? Holmes says no–and no to investors’ claims (The restitution debate ensues–and the defendant’s accounts are empty) A... Continue Reading
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TTA’s Waiting for Spring: M&A action with Transcarent, VillageMD, WW; Theranos investor restitution; UKTelehealthcare events; Best Buy’s hospital-to-home, more!
Weekly Alert Not a lot of articles, but a lot of news. A busy M&A week for a change with Transcarent, VillageMD, and WW buys. Will Theranos’ investors see a penny in restitution? All while prison dates loom for Holmes and Balwani. Plus digital switchover/TECS meetings courtesy of UKTelehealthcare, Best Buy’s move into hospital-at-home, and Color pop health/testing says bye to 300. News roundup: Transcarent buys 98point6’s virtual care; Best Buy-Atrium hospital-at-home; Walgreens/VillageMD buys another practice group; WW-Sequence digital weight management; UKTelehealthcare events; 300 out at Color Did Theranos collapse because of Holmes’ criminal conduct? Holmes says no–and... Continue Reading
Did Theranos collapse because of Holmes’ criminal conduct? Holmes says no–and no to investors’ claims
Restitution–and Holmes’ ability to pay–may be similar to squeezing blood out of the rock at left. In the latest filing from Elizabeth Holmes’ defense, they claim that 1) her crimes didn’t cause the collapse of Theranos and 2) that the prosecution had not shown that the investors “relied on the offense conduct when deciding to invest.” Even Judge Edward Davila of the US District Court had said in a January ruling that 1) was not established by the prosecution. What the prosecution is trying to establish is that Holmes’ restitution should be in the vicinity of $878 million, up from... Continue Reading
TTA’s Season of Reckonings: FTC whacks Teladoc/BetterHelp, Amazon; Bright Health future dim; VA EHRM departures; Cerebral, Evolent lay off; Walmart builds out; Pixel Watch adds fall detect, more!
...a week. Amazon-One Medical cheered–but is FTC eyeing them for a wider antitrust suit? Teladoc’s financials continue cloudy. David wins one against Goliath with AliveCor’s ITC review win. Theranos’ Balwani and mom x 2 Holmes appeal as coming appointments with Club Fed near. UHG widens its home care footprint with LHC Group. And is a PBC model a good one for your company? Should your healthcare organization become a public benefit corporation (PBC)? (A business model that may fit your purpose) News roundup: UHG closes $5.4B LHC deal, Teladoc’s record $13.7B ’22 loss, Olive AI divesting UM, Cigna exec can’t... Continue Reading
TTA’s Season of Drear 4: Amazon-One Medical, UHG-LHC close; Teladoc’s record loss; AliveCor wins ITC against Apple; VA awards 10 in anti-suicide program; Club Fed nears for Balwani, Holmes; PBC 4U?; more!
...Theranos’ Holmes post-prison mental health + more on Shultz and Balwani; global M&A, funding roundup Rock Health puts a kind-of-positive spin on digital health’s ‘annus horribilis’ 2022–a boring 2023 Mid-week roundup: Teladoc gets BetterHelp to boost Q4 ’22 revenue; fundings for Array, Paytient, Telesair, three others; layoffs hit at Alphabet’s Verily, Cue Health CVS works their plan in Oak Street Health buy talks, Carbon Health $100M investment + clinic pilot; VillageMD-Summit finalizes (updated) Theranos trial updates: Holmes’ freedom on appeal bid opposed; Balwani files appeal to conviction Have a job to fill? Seeking a position? See jobs listed with our... Continue Reading
Theranos’ Balwani seeks to remain free during appeal, argues he owes nothing in restitution (updated for Holmes appeal)
...appeals of Balwani’s boss and lover, Elizabeth Holmes, with her delay of surrender based on appeals being filed and restitution being decided in the same court. Balwani’s defense is taking a different tack than Holmes’ defense regarding restitution. His attorney, Amy Walsh, presented that the company was still valuable at the time of Balwani’s dismissal in May 2016. Theranos still had $350 million in cash and intellectual property worth $100 million. Judge Davila seemed skeptical of that: “Are you saying his conduct was completely divorced from Theranos’ demise?” The prosecution is seeking a far higher restitution–$900 million–than the $120 million... Continue Reading
Mid-week news roundup: CVS Health Virtual Primary Care launches, VA’s two-day Oracle Cerner EHR slowdown, and microsampling blood + wearables for multiple tests
...which shares a database with the VA, “had the unintended consequence of interrupting services that provide connectivity to the network.” The system slowed down from screen to screen, requiring clinicians to work extra time to make all entries, and was not resolved until configuration changes were made. This is another incident adding to a Very Large Dogpile, including interoperability between VA and MHS versions, 498 outages between September 2020 and June 2022, plus two veteran deaths. And maybe Stanford, forever associated with Theranos, is trying to get its reputation back–in running multiple blood tests on microsamples. A new paper published... Continue Reading
Theranos Holmes trial updates: did she book a one-way flight to Mexico last year, or were the prosecutors reckless and wrong?
The latest skirmish between prosecution and defense. Did Elizabeth Holmes book a flight to Mexico with the intent to flee–or not? According to the prosecution last week, Holmes in December 2021 had booked a one-way ticket to Mexico that was scheduled for the end of January 2022. The departure date was after her conviction in early January that year [TTA 4 Jan 22]. Moreover, the prosecution claims that now revealed fiancé Billy Evans flew not only to Mexico but also to South Africa, and was out of the country for weeks. The defense in its filing countered that Evans booked... Continue Reading
CVS, Walgreens, Walmart….Dollar General health clinics?
...either onsite or sent out. Medical staff on the van can write prescriptions. Some referrals (e.g. imaging) are done while other referrals are not available. As to their strategy, you have to hand it to Dollar General. They get some good press from this. They are starting small in working through the details, outsourcing the healthcare part, and seeing if there’s sufficient demand to 1) expand and if promising 2) model the customer demographics–what we marketers call customer personas. If it doesn’t work, no Theranos-sized holes in their budgets–it’ll be GoneGone to DocGo. Dollar General started to make moves into... Continue Reading
Weekend short takes: Theranos’ Holmes post-prison mental health + more on Shultz and Balwani; global M&A, funding roundup
...and readying a reentry plan draft that can make her probation a bit easier on all. In related Theranos news, a soon-to-be published biography of George Shultz, a government supremo during the Nixon and Reagan Administrations, claims that by then aged 90+ emeritus supported Holmes to the point of fixation. In a nearly 20-year tenure at Stanford’s Hoover Institution, respected and honored by all but with no medical expertise, he suddenly became a huge backer of Holmes, helped her get financing through his network of contacts, joined the board, and invited her to family gatherings. Grandson Tyler Shultz, who joined... Continue Reading
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