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Holmes testifies about Her Boss Lady Life At Theranos, staying on strategy with deflection, blaming others, and a soupçon of diminished capacity. Athenahealth sold to new investors, VA reorganizes to restart their Cerner implementation, CVS and Microsoft do another deal. A POV on patient engagement. And disappointingly, Owlet’s baby monitor sock runs afoul of the FDA.
Owlet sock pulled from US distribution after FDA warning letter (Owww! A setback for a high flyer)
News and deal roundup: Best Buy’s $400M for Current, VA’s Cerner restart 2022, CVS-Microsoft product deal, and Athenahealth (finally) sold for $17B (Deals may be winding down, but they’re still rich)
Theranos, The Trial of Elizabeth Holmes, ch. 12: all bucks stop with the CEO (updated) (It’s beginning to feel like Twinkie Defense Variations)
Perspectives: How enhanced digital communications can improve patient engagement (Avaya’s insight on designing your communications)
Theranos, The Trial of Elizabeth Holmes, ch. 11: Holmes’ widening gyre of diffusion of blame–and abuse (A lurid Svengali story that woke up the jury)
Theranos, The Trial of Elizabeth Holmes, ch. 10: Holmes testifies about the salad days of Theranos, setting up cognitive dissonance (When in doubt, deflect from the forgery with idealism)
The denouement of Elizabeth Holmes’ trial draws near, with the prosecution resting (not before drawing all the fraud threads together) and Holmes surprisingly taking the stand as the week ends. The year’s end and holidays mean the smaller fundings wind up now, with a few larger (Athenahealth?) to come. Amazon Care’s fan dance reveals an H for Hilton. Telehealth and retail strategies ambitiously puzzle. And Loughborough neighbors Access Group and Alcuris walk off with each other.
Short takes: Athenahealth close to sold, Teladoc wants More of the Patient, CVS fewer store customers (Questionable strategies at various stages?)
Alcuris acquired by the Access Group (UK) (Loughborough neighbors getting together)
News and deal roundup: Amazon Care lands Hilton, Lightbeam buys CareSignal RPM; aptihealth’s $50M, MedArrive’s $25M, Ribbon Health’s $43.5M (Amazon reveals a bit more, while funding numbers shrink at year’s end)
Theranos, The Trial of Elizabeth Holmes, ch. 9: the cold $96 million (updated 19 Nov) (The prosecution ends with a hammer blow, the defense opens with…Holmes)
Theranos, The Trial of Elizabeth Holmes, ch. 8: choosing investors with more money than sense a winning strategy (And make sure they’re not too tightly wrapped!)
Big News this week was Giant Company Spinoffs–GE Healthcare and J&J’s split. Finance deals are taking a rest–only one this week of note. A major health system is in court for telehealth IP theft. Theranos’ mountain of deception grows higher. And what is the NHS going to do with their Unconnected Patients? No appointments, just queue?
Short takes: Now J&J splits up, a Color(ful) $100M, Cue Health goes DTC, Amwell’s busy Q3, Teladoc’s Investor Day 19 Nov (Telehealth Wars continue)
News roundup: GE Healthcare spins off, Mercy Health accused of telehealth tech theft, NHS’ proposed $8.1bn bump for backlogs–with a 83 y/o in a 7am queue (Not right to discriminate against the Unconnected)
Theranos, The Trial of Elizabeth Holmes, ch. 7: Edison labs consistent–in deficiency and strange results (PSA findings for women, and sign right here, Lab Director)
As the deal pace settles down to a nine-figure progression, and it’s hard to find a space in the Unicorn Parking Lot, telehealth is also settling down to entering primary care (though Teladoc continues in the red) and a 4% claim level in the US. It’s now the downslope for the Theranos trial with the deception piling wide and high. And our supporter Legrand for connected care is now Legrand Care.
Short takes: Papa Health’s $150M Series D, Hinge Health’s $600M Series E, Teladoc’s revenue up 81% but continues in the red
Legrand’s new global brand: Legrand Care (Another rebranding!)
Theranos, The Trial of Elizabeth Holmes, ch. 6: the decision maker was Holmes–and she was ‘cagey’ (Not looking good for Liz)
US telehealth usage increases slightly in August, reversing months of decline (But only a small bump up)
Wirral Council investing £1.5 million in next-generation digital and ‘preventative’ telecare (UK) (Alcuris and Medequip)
The pace of deals is slowing as we lurch to year’s end, but nine figures have become the New Average with Oak Street-RubiconMD, 23andMe-Lemonaid, and ModivCare-VRI. Name changes are too, with Doro Care morphing into Careium (and Facebook becoming Meta-something). Google bets on mental health. The Theranos opera moves into Act 2 with the Gulling of the Rich Families.
News & deal roundup: Oak Street adds telespecialty RubiconMD, ATA plumps for wider telehealth access, yet claims fall to 4%, West Suffolk NHS adds Zivver mail/file security, Northwell’s $100M for AI–and miss industry shows yet? (Your Editor does!)
Theranos, The Trial of Elizabeth Holmes, ch. 5: how to easily fool rich people and their investment offices (‘The Grifters’, the Palo Alto remake)
Google joins the behavioral health wars, adds new senior executive from Headspace (Accompanied by self-important flapping about)
Doro AB splitting in two, Doro Care changing name to Careium (Must be a trend…Facebook just became Meta-whatever)
Serious swerving indeed: 23andMe buys Lemonaid Health for $400 million (Lemony23?)
PERS/RPM catchup: VRI bought by ModivCare for $315M; Connect America buys AI-powered RPM 100Plus, opens new SC center (There’s lots of life and money in PERS)
The pace of financings and M&A slows down a bit, though the realignments are important–and the renaming starts. Google creates an app around their Care Studio EHR search tool. Another look at Amazon Care and their possible strategy as they spend beaucoup lobbying bucks. Theranos proves to be a bottomless well of deception, darkly tinted with silty water.
Short takes: Google’s Care Studio app debuts, Modern Age’s healthy (aging) $27M Series A, OnSky Health launches pad-based RPM
Amazon Care confirms five more cities, beefs up DC lobbying–but what’s the real game? (It may be your data, not your health, as competition ramps up)
Theranos, The Trial of Elizabeth Holmes, ch. 4: we deceive those who want to believe (A skillful shell game that worked very well until The End)
News roundup: Grand Rounds rebrands as Included Health, HealthEdge buys Wellframe, TytoCare rings Google Chime
The Trial reveals Walgreens’ and Safeway’s frustrations and deceptions with Theranos that ultimately cost them a collective $520 million. Walgreens learned its lesson, bringing home the primary and post-acute care of VillageMD and CareCentrix. Babylon raises even more $, Best Buy moves into home care management with Edinburgh’s Current Health. And stepping back, is telehealth now due for a correction?
Short takes: Walgreens now majority share of VillageMD, CareCentrix; Lark Health lifts $100M, UnitedHealth Group’s profitable Q3 and Change delay
What’s next for telehealth? Is it time for a correction? (Maybe not as much as we cracked it up to be)
News and deal roundup: Babylon’s $200M raise, Best Buy buys Current Health, Virgin Pulse-Welltok, Devoted Health’s $1bn raise, Withings watch gains FDA ECG clearance
Theranos, The Trial of Elizabeth Holmes, ch. 3: Safeway, Walgreens execs testify to deception, frustration with Holmes, failed pilots and labs (updated) (Expensive lessons!)
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