...Openings were delayed from 2021 so that Walmart could debut their Epic EHR and patient portal in those locations. Plans for expansion in Florida, filled with areas with aging populations, have been hinted at but coyly not confirmed by Dr. David Carmouche, senior vice president of Omnichannel Care Offerings. After a few false starts and retrenching, Walmart is leveraging its strong physical point in delivering health–retail supercenters–against competitors such as CVS, Walgreens, and Amazon. The centers provide primary and urgent care, labs, X-rays and diagnostics, dental, optical, hearing and behavioral health and counseling for a checkup priced around $90, with... Continue Reading
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Thursday news roundup: Cigna deploys over $12B for investment, Cerner’s Feinberg to Humana board, Teladoc on Amazon Alexa, admitting Livongo problems, and XRHealth VR therapy scores $10M
...as investment in early-stage companies through Cigna Ventures. Also FierceHealthcare Insurer Humana’s board expands to 14 with the addition of David Feinberg, MD, the current CEO of Cerner and future executive of Oracle, provided the merger is approved. He joins the current seven independent directors on the Humana board. Last week, Starboard Value LP, an activist investor hedge fund, reached an agreement with Humana to appoint two Starboard-backed board members starting next month and retire two incumbents. Humana limped through last year with a $14 million Q4 loss and Medicare Advantage losses to both traditional rivals and insurtechs. With over... Continue Reading
Thursday news roundup: Teladoc’s cheery 2021, uncertain 2022; DOJ deadline UnitedHealth-Change Sunday, Cerner’s earnings swan song, Humana feels the activist lash; funding/M&A for WellSky, Health Catalyst, Minded, Automata, MediBuddy
...funding from Streamlined Ventures, Link Ventures, The Tiger Fund, Unicorn Ventures, and private individuals. They provide direct-to-patient behavioral health medications through virtual evaluations with treatment plans without in-person visits, which are still unusual in psychiatry. At the present time, it is available only in New York, New Jersey, Pennsylvania, Florida, Texas, Illinois, and California. The founders are an interesting mix: David Ronick, who previously co-founded fintech unicorn Stash, Gaspard de Dreuzy, the co-founder of telehealth company Pager, and Dr. Chris Dennis, a multi-state licensed psychiatrist. Their rationale for founding the company does resonate with this Editor, whose brother is a... Continue Reading
Update roundup: Change Healthcare sale to UnitedHealth Group/Optum may hinge on divesting, Oracle on Cerner exec departure packages up to $22 million
...multiple challenges. UHG has already pushed the date forward to 5 April as we noted back in December, when it was barely noticed in the major shakeup at fellow payer Centene. Seeking Alpha Cerner has disclosed additional details in an SEC Schedule 14D-9 on lead executive and associate compensation as part of the sale to Oracle, and it’s eye-blinking. Non-employee directors and executive officers will receive payments for their shares and cashed out compensatory awards in the Table of Equity Related Payments. HISTalk calculated total ‘golden parachute’ packages and severances for the following: President and CEO David Feinberg $22 million... Continue Reading
News, acquisitions, funding roundup: Cerner CEO, CTO’s ‘stay-with-conditions’ deal, Quest buying Pack Health coaching platform, Wheel’s $150M Series C, mental health’s bubbly Lyra Health’s $235M and Big Health’s $75M
Cerner CEO, CTO sticking around after Oracle acquisition, but there’s a catch. Cerner’s recently started CEO (August), Dr. David Weinberg, and their chief technology officer, Jerome Labat, both received ‘stay deals’ to remain with Oracle for 12 months from the closing date. The language in the SEC filing discloses the conditions. It’s a typical waiver of the right to leave for ‘good reason’ or ‘constructive termination’ if Oracle adversely changes their authority, duties, position, or responsibilities, which would trigger their ‘change in control’ severance. In return for the waiver, even if assigned to the data center in the Yukon, they... Continue Reading
Further insights on and thoughts about the Oracle acquisition of Cerner
...towards the less uncertain choice? Will the Cerner VA and DOD business be affected? How does this affect Cerner’s implementations of cloud services, currently AWS versus Oracle’s Gen2, as well as healthcare’s usage of InterSystems Cache versus Oracle’s relational databases? And will Oracle’s Voice Digital Assistant as the user interface to Cerner Millenium really fly? From Change of Control: How key to the deal was CEO David Feinberg MD, who only joined in October? No matter what, he’s now a very wealthy man. From On-Demand: Oracle is buying its way into healthcare. Cerner lost a lot of ground in executive... Continue Reading
(Breaking) Sold! Cerner to Oracle for $28.3 billion. And is Epic next?
...clinical systems. This will allow medical professionals to spend less time typing on computer keyboards and more time caring for patients.” There is also no mention of Cerner’s challenges with the VA. What are the implications with the Cerner implementations there and with DOD? Do anticipate much industry speculation on David Feinberg, MD, who only this fall joined Cerner as CEO, and his role in this. The most logical is that he’ll shepherd the sale till the close and exit stage left, well-rewarded, with his future (only 59) still ahead, unless Oracle sees a role for him. In its way,... Continue Reading
Oracle in negotiations to buy Cerner for $30B (sold!)
...growth area for cloud computing services targeted to payers, hospitals, and health systems, and has clients like Cleveland Clinic and Kaiser. Back in June 2020, they launched a cloud service collecting clinical data from sensors, patient apps, EHRs, and labs supporting therapy development. As our Readers know, David Feinberg, MD left Google Health to join Cerner as president and CEO on 1 October [TTA 21 August] in a $34.5 million compensation package [TTA 24 August]. An acquisition by Oracle, in such a short time, can be interpreted as either a coup he engineered for the shareholders (and for his benefit,... Continue Reading
Theranos, The Trial of Elizabeth Holmes, ch. 11: Holmes’ widening gyre of diffusion of blame–and abuse
...2014 TED speech. (Take a trip back and watch a few Theranos spots, courtesy of Refinery29. High on image, low on reality.) Diffusion of responsibility is common in fraud cases. Wired quoted David Alan Sklansky, a professor of criminal law at Stanford. “It’s probably the most common kind of defense mounted in cases involving allegations of large-scale financial fraud,” he says. “Whether it works depends on how credible it seems to the jury.” The hazard is that it makes Holmes appear incompetent, but incompetence beats 11 counts and 20 years in Club Fed. What is the jury to believe about... Continue Reading
Theranos, The Trial of Elizabeth Holmes, ch. 8: choosing investors with more money than sense a winning strategy
...Pfizer and Novartis–which was blatantly false. This incredible narrative becomes more understandable when you understand Holmes’ strategy of choosing only ‘high-quality investors’ of the family fund sort. She targeted funders who weren’t knowledgeable and meticulous in examining the company books and the technology. The funders were also oh-so-socially connected. According to The Verge, Eisenman was ‘wired’ into Theranos–“he was friends with the Holmes’ family’s financial advisor [David Harris], who had also invested. Plus, his wife’s father, who had also invested, was friendly with [Bill] Frist, who was on the board.” Eisenman contacted Frist as well when he was essentially cut... Continue Reading
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