Mid-week news roundup: US offers $10M for BlackCat/ALPHV info; most Change systems still down; Risant closes Geisinger buy; SureScripts exploring sale; DarioHealth 2023 revenue -23%; Amazon Pharmacy same-day delivery NYC and LA

April 3, 2024 | by

US State Department pays well for Big Breach information. Interestingly, this US agency through the Diplomatic Security Service has a special program, Rewards for Justice (RFJ), for cyberattacks that are deemed “malicious cyber activities against U.S. critical infrastructure in violation of the Computer Fraud and Abuse Act (CFAA)”. The activities of the now-disappeared (ha ha!) BlackCat/ALPHV  ransomware-as-a-service (RaaS) group, identified on 29 February as the culprits in the massive Change Healthcare/Optum system takedown, are now listed as qualifying for a reward, presumably as disruptive to US healthcare and not just UnitedHealth Group. Contact Rewards for Justice via the Tor-based tips-reporting channel at: he5dybnt7sr6cm32xt77pazmtm65flqy6irivtflruqfc5ep7eiodiad.onion (Tor browser required). That is, if you dare! Rewards for Justice release, Becker’s

Six weeks later, most Change services are still X-d on the Optum Solution Status page. A quick rundown of the hundred or so programs that Change provides to enterprises has a long line of Xs with some triangles containing ! (partial outage) or yellow boxes (degraded performance). The green checkmarks are clustered in high-priority areas such as pharmacy solutions and clinical decision support. Otherwise, they are scattered across categories. The summary on the top of page (dropdown) lists workarounds for specific programs such as batch processing and transitioning over to Optum systems unaffected by the attack. This Editor bets that most of these Change legacy systems will come back only partially if at all–many will be abandoned and replaced by Optum systems. Hat tip to HIStalk 29 March

Risant Health, the non-profit community hospital system founded by but separate from Kaiser Permanente, has closed its acquisition of Pennsylvania-based Geisinger Health as of 2 April.  Jaewon Ryu, MD, JD, currently Geisinger’s president and CEO, will move to CEO of Risant Health, with Terry Gilliland, MD, replacing him at Geisinger. The Risant plan announced last April is that Kaiser will fund $5 billion to Risant, which will acquire now four or five health systems over the next four to five years. The health systems will retain their names and operational areas. The purpose of Risant is to bring community systems it acquires greater access to capital, technology, and resources for facility improvements, innovation, and investment in patient care. Keeping an eye on 109-year-old Geisinger. Risant release

Mega e-prescription system Surescripts is exploring a sale. Silicon Valley investment bank TripleTree is handling the search for buyers. Currently, Surescripts is owned 50% by CVS Caremark and Cigna-owned Express Scripts, with two trade groups, the National Association of Community Pharmacies and the National Association of Chain Drug Stores, owning the other 50%. It isn’t disclosed in the Business Insider ‘reveal’ what group(s) is interested in selling all or part of its ownership. Since Surescripts holds 95% of the e-prescribing market, any buyer or investor would need be mega flush to buy into it. 

DarioHealth didn’t have a great 2023. Net revenue was down 23% versus 2022: $20.4 million to the prior year’s $27.7 million. The chronic condition management company managed to narrow its 2023 net loss of $59.4 million from $62.2 million in 2022. A lot of the problems seemed to center on their Q4, with net revenue that declined to $3.6 million from $6.8 million in Q4 2022 and a net loss that increased to $14.3 million from $12.6 million in Q4 2022.  Dario’s gross profits for 2023 were down 38% to $6 million, a decrease of 38% versus 2022’s $9.7 million. The changing financial picture was attributed to a new private label platform with Aetna launching in 2024, changing from a B2C to a B2B2C model, and February’s “transformational acquisition” of Twill (Happify) in telemental health. As this Editor noted then, it was a feat of funding legerdemain that rivaled a Frank Lorenzo deregulation-era airline acquisition. Their information around 2023 earnings isn’t much different. Dario provides a combined app and in-person approach to musculoskeletal (MSK) therapy, diabetes (including GLP-1 drugs), hypertension, weight management, and behavioral health. Mobihealthnews, Dario release

And speaking of pharmacy, Amazon Pharmacy expanded same-day medication-delivery offerings to NYC residents and the greater Los Angeles area. This adds to same-day prescription delivery available in Phoenix, Austin, Seattle, Indianapolis, Miami, and Texas, including free drone delivery in College Station. How it works: Amazon has small facilities and pharmacists near the areas, ready to fill and deliver medications in minutes using genAI and machine learning tools. Delivery in NYC/Manhattan will be by bike and in LA, electric vans or other commercial vehicles. (Editor’s note: bike delivery in the outer boroughs is like LA–impractical.) Amazon Prime members have additional benefits. Competition here are online companies like Mark Cuban Cost Plus and GoodRx’s prescription service. But perhaps it’s a good time to sell Surescripts? Mobihealthnews

TripleTree iAwards: applications open

February 13, 2015 | by

Applications are now open through 13 March for the seventh annual TripleTree iAwards, which recognize the most innovative companies in connected health. Finalist CEOs present at the 10th annual Wireless-Life Sciences Alliance (WLSA) Convergence Summit 26-28 May in beautiful (and warm) San Diego. Previous finalists are a chronicle of the changing connected health scene: marquee names still with us (Qualcomm Life, AliveCor, GreatCall, Proteus)–and those vanished from the scene (Healthrageous, WellAWARE, Diversinet, Zeo). Information and application.

TripleTree ‘Viewpoint’ on hospital of the future

June 24, 2014 | by

Healthcare investment bank and advisor TripleTree has produced a ‘Viewpoint’ report on ‘the hospital of the future’, examining the proposition that the place for delivery of even acute care may not be a hospital at all due to health tech, robotics and architectural innovation (this last hearkening to TTA 22 April). “High-quality healthcare is frequently described as delivering the right care to the right person at the right time in the right place. This report focuses on the right place. It describes the ongoing evolution of healthcare real estate and offers realistic insight to the characteristics of the hospital of the future.” And rather than hospitals becoming more hotel-like, hotels may become post-surgery ‘home health’ centers. Many other intriguing possibilities in this Report (free download).

WLSA announces global adoption theme for Convergence Summit

April 24, 2014 | by

The Wireless Life Science Alliance’s Ninth Annual Convergence Summit, 14-16 May at beautiful San Diego’s Omni Hotel, will be themed around greater global adoption of technology-enabled healthcare. This marks a change from the technology-heavy early days (your Editors have been covering since at least 2010) to worldwide institutional adoption (too slow), outcomes (public health still deteriorating) and consumer engagement (limited). The Wednesday sessions are for members only, the following two days are general sessions and exhibits. Featured speakers include Jeff Arnold, founder of WebMD and now CEO of Sharecare; Dr. Leroy Hood of the Institute for Systems Biology; Ralph Simon, CEO of Mobilium Global Limited which is active in Africa; from the UK, Dale Athey, PhD, CEO & Founder of OJ-Bio Ltd. Another feature of the Summit is the announcement of the TripleTree iAwards for Connected Health winners. Twelve finalists were announced earlier this month. More information and registration.

First M&A roundup for 3rd quarter: more action, less value, whither digital health?

October 14, 2013 | by

VC/research firm TripleTree is first out of the gate with its roundup of merger and acquisition activity in healthcare, July through September. The news and directions are mixed. Deals are up 28 percent from the two previous quarters but down 12 percent in total deal value. Most are in the healthcare facilities area with home care giant Gentiva acquiring Harden Healthcare and insurance giant Humana adding to its LTC, Medicaid/Medicare portfolio with American Eldercare. 19 healthcare companies had successful IPOs totaling ~$3 billion of transaction value. Two highlighted here are Envision Healthcare Holdings (ambulance and outsourced physician services) and Benefitfocus (benefit administration software and tracking). Given that they are the creator of the iAwards at the annual Wireless-Life Sciences Alliance in May which focuses on digital health, the decidedly non-buzzy companies getting the action here are perhaps another indicator of the funding cooling preceding M&A as projected by Rock Health back in July [TTA 9 July], with their 3rd Quarter report due out shortly.

iAwards winners announced today at WLSA

May 30, 2013 | by

TripleTree’s iAwards were announced this afternoon (US) at the finale of this year’s Wireless-Life Science Alliance’s (WLSA) annual Convergence Summit. From a field of 12–AgaMatrix, AliveCor,  Asthmapolis, Carenet Healthcare Services, CareTicker, Change Healthcare, Cyracom, Etransmedia, Evive Health, Healthsense, Qualcomm Life and Trice Imaging–the winners are in three areas plus one: Clinical Effectiveness —Healthsense (telecare, at long last!); Consumer Engagement–AgaMatrix (diabetes management technology); Operational Effectiveness–CyraCom (on-demand language services.) In addition, special recognition was given to Asthmapolis as the recipient of its 2013 Horizon Award, recognizing ‘their unique advancements in chronic disease management via connected health’. The annual iAwards at WLSA, sponsored by healthcare investment capital firm TripleTree, honor companies demonstrating, insight, innovation, and initiative in healthcare technology. TripleTree release.

mHIMSS Convergence Summit coverage starts with the interesting conundrum of the person who will be readmitted for his/her diabetes:

Three people who’ve been newly diagnosed with diabetes are discharged from the hospital on the same day. Who’s most likely to be re-admitted soonest? That would be the one with the worst credit rating. Someone who can’t keep track of his or her finances probably won’t be able to keep up with his post-discharge regimen.–Harry Greenspun MD of Deloitte

This Editor hears Big Data calling…After all, healthy people have more fun….Putting the “fun” back into healthcare

Plus…Live/podcasted coverage of the Convergence Summit:

  • HIBC.tv (Health Information Broadcasting Consortium). You will have to search through the lengthy menu of thumbnails below for later coverage (look for WLSA) but the first group of keynotes featuring Dirk Stanley MD, Rob McCray (WLSA), Joseph Kvedar MD (Center for Connected Health) and Chris Penrose (AT&T) is here (53:34). A second 3: 20 video with Bruno Leroy (Sanofi) is here.
  • mHealthZone Live on BlogTalkRadio: Ben Chodor has been continuing his radio podcasts on the mHealthZone now live from the WLSA: Day 1, Day 2 (today). All broadcasts approximately 35:00.

‘Nudging’ chronic condition-ers to QSing

May 23, 2013 | by

[grow_thumb image=”https://telecareaware.com/wp-content/uploads/2013/02/gimlet-eye.jpg” thumb_width=”150″ /]TripleTree, a VC that funds many iHealthy companies, casts a hopeful eye (certainly not a Gimlet Eye) at the consumer-driven growth of health tech and finds the steam generated by the Quantified Selfers and Fitness Addicts, stoked by the Healthcare Digerati who are not Going Surfing USA, is cooling fast and flatly. The Big Bucks are betting on ‘nudging’ (or as Aunt Lillian put it, ‘nooodging’) those diabetics, overweight couch potatoes, smokers and consumers of 72-ounce sodas, those naughty 20 percenters who spend an estimated 80 percent of US healthcare money, towards the New Jerusalem of Healthy Lifestyles and Big Savings. Of course, as the writer points out, payers and pharmas are still gathering data and documenting that increasing physical activity or sensoring med reminders, despite their Quantum of Cool, actually gets everyone to this destination and not another. One increasingly popular Road to Perdition is to introduce the refractory to the Carrot und Stick Gauntlet located at the corner of Tech, Privacy and Cost [TTA 21 March.] But the intensely blinking Big Yellow Light is that the Diabetic Experience [TTA 5 April] points out that ‘nooodging’ people to do something they don’t wanna and has uncertain, variable outcomes is not necessarily Their Road to Damascus. Personal Fitness, Chronic Condition Management and Connected Health

While The Eye takes The Road to the Beach in a 1946 Buick Super woody, Editor Donna notes the listing at the end of the article of the dozen finalists for the iAward to be announced 30 May, including AliveCor, Healthsense (a telecare system!) and Qualcomm Life.