In the Chutes department, once again UnitedHealth Group can’t catch a break. This time it’s a shareholder lawsuit by a Quebec-based religious non-profit group, Fond des Missions (formerly the Fond Durocher). They had submitted a proposal to UHG for inclusion in its proxy materials for the 2026 Annual Meeting. It requested a report from the Board of Directors that describes the healthcare consequences of its acquisitions over the past 10 years–a very interesting take on UHG’s acquisition strategy, how it runs a reported 2,700 subsidiaries, and whether this strategy benefits member health.
UHG declined the request on the basis that it related to “ordinary business” and attempted to “impermissibly micromanage” the company’s operations. The Securities and Exchange Commission (SEC) did not object to (not agreed with) UHG’s decision due to shutdown-related backlogs at the agency. This decision to omit the proposal made Fond des Missions unhappy enough to file a lawsuit this week in the US District Court for the District of Columbia. The suit seeks to enjoin UHG’s decision to omit the proposal from a shareholder vote as unlawful under SEC regulations and award Fond the costs for the suit.
Fond des Missions was founded as a Canadian charity by the Roman Catholic Congregation of the Sisters of the Holy Names of Jesus and Mary. Their missions are active in Africa, South America, and North America. It is a member of the Interfaith Center on Corporate Responsibility, a coalition of more than 300 faith-based investors. For last year’s annual meeting, Interfaith had submitted a proposal for a vote on the effect of healthcare delays and denials on the public. This was also rejected. Whether this suit will be decided in time for this year’s proxy materials and the annual meeting, usually mid-year, is to be determined. Healthcare Dive
In Ladder-land, Qualified Health raises $125 million in a fresh Series B. The new funding was led by New Enterprise Associates, Inc. (NEA), with participation from new investors Transformation Capital, GreatPoint Ventures, Cathay Innovation, and Menlo Ventures’ Anthology Fund, an AI innovation fund created in partnership with Anthropic. Earlier investors also participated, bringing the public benefit company’s total raise to $155 million. Qualified Health’s platform provides health organizations with the infrastructure to deploy and scale generative AI in areas such as governance frameworks, post-deployment monitoring and role-based access controls. The new funding will enable the PBC to further deploy their platform to additional health systems such as Mercy, Emory Healthcare, University of Rochester Medicine, Jefferson Health, and University of Texas System. Release, Mobihealthnews
Cerebral expands its mental health platform with ADHD app Inflow. The Inflow app will add additional support options to telementalhealth provider Cerebral’s ADHD patients via Cognitive Behavioral Therapy (CBT) and personalized tools. Neither acquisition cost nor management transitions were disclosed, although both will operate separately. Cerebral has come a long way from their near-death controlled substance distribution violations, finally settled with the DEA and DOJ less than two years ago [8 Nov 2024]. Release, Mobihealthnews
And in the burgeoning women’s health segment, Flourish Care gets a boost with a $5.7 million seed round. Their hybrid services combine both virtual care and in-person maternity care delivered by local, credentialed doulas. The doulas are maternity experts who guide mom through pregnancy, birth and baby’s first months at home. Over 40 health plans offer the service with minimal or zero out of pocket cost. The raise was led by Zeal Capital Partners with participation from Rogue Women’s Fund, Collide Capital, Symphonic Capital, Capita3, Slater Technology Fund, Create Health Ventures, Catalytic Impact Foundation and others. Release, Mobihealthnews
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