This week’s Big News was the confirmation of the HIMSS deal with Informa–not a sale but a ‘partnership’–developing. CVS having some profitability problems and restructuring, minus 5,000–as is Oracle Cerner. Meanwhile, Congress tightly reins in Oracle Cerner EHRM in appropriations bill. And now you can run to Amazon Clinic without (much) concern about your privacy!
Short takes: CVS’ $1.12M Q2 net income loss, forecast spurs 5,000 layoffs; Signify’s in-home kidney exams; Indonesia’s Halodoc $100M D; FeelBetter raises $5.9M; Medicare breach hits 612,000 beneficiaries (When you spend like CVS, something’s gotta give)
House appropriates $1.9B for Oracle Cerner VA EHR modernization, $5.2B for telehealth, plus other technologies; Oracle lays off more Cerner staff (Congress reins in VA+Oracle Cerner)
Done (and split) deal! Informa to “manage” HIMSS Global Health Conference & Exhibition (updated) (It’s a partnership. Really!!)
More thoughts on the pending sale of the HIMSS Global Conference (Developing)
Amazon Clinic announces 50-state rollout 1 August. Were the privacy issues fixed? (Maybe, at least in disclosures)
Another few bombshells go off while a heat wave descends. It looks like the annual HIMSS conference won’t be HIMSS anymore. Another ‘David’ faces ‘Goliath’ in the Dorsata vs. athenahealth lawsuit. The FTC/HHS-OCR noose tightens on third-party ad tracker use. Positive earnings news from Teladoc, GE Healthcare, Talkspace, a lot of fundings–plus Nextech sold for $1.4B.
Legal roundup: Dorsata sues athenahealth, provider group on trade secret theft, Nevada terms Friday Health Plans (Dorsata as another ‘David’)
Close of week short takes: Q2 earnings up for GEHC, Talkspace; UnitedHealth invests $11M in SDOH; fundings for two AI startups, K4Connect, UpLift, Family First
Informa PLC to acquire HIMSS Global Health Conference and Exhibition (A ‘landmark’ love-it-or-hate-it conference to change hands)
Mid-week news roundup: $105M senior debt to Headspace; Nextech bought for $1.4B; Teladoc’s Better(Help) Q2 boosts 10%; Peppermint’s online ‘clubhouse’ for seniors, PathAI lays off 87
FTC, HHS OCR scrutiny tightens on third-party ad trackers, sends letter to 130 hospitals and telehealth providers
It may be summer, but the bombshells keep dropping. FTC and DOJ dropped draft merger guidelines on antitrust–in addition to HSR premerger notification–that will have far-reaching consequences. We update the demise of Friday Health Plans (another 30K members in the lurch), the Cano Health telenovela, hacking from Russia to UK to US, buys, financing, class action lawsuits, and an order in the ongoing AliveCor-Apple antitrust suit that slaps Apple down hard.
Another antitrust shoe drops: FTC, DOJ publish Draft Merger Guidelines for comment–what are the effects? (New restrictions not good for founders, managers, VCs)
Mid-week roundup: Colorado terms Friday Health Plans; Cano 3 continue to savage board; Amazon Pharmacy layoffs; hacking attacks: QuickBlox, Barts Health; Phreesia buys MediFind; financing pops for K Health, Amino
Legal roundup: Teladoc class-action suit dismissed; NextGen EHR $31M Federal settlement; significant AliveCor-Apple antitrust ‘spoiliation’ update; class action suits filed against HCA, Johns Hopkins
We looked at the first half’s digital health funding (back to 2019), the trend to unnamed and down rounds, two up rounds, two layoffs, three mixed pictures of telehealth effectiveness, it’s an almost-wrap at MHS for Oracle, and Amazon’s dodgy approach to your privacy. Early-stage company financing and managing your financials? We have some advice.
News roundup: MHS Genesis EHR completes US rollout, telehealth selective savings by disease, CarePredict’s $29M funding, Amazon Alexa *Spying on You* (Confirming telehealth unevenly bends the curve)
Thursday short takes: Fold Health VBC $6M round, Vivalink’s RPM in Burma rural health, Vytalize adds two to board, layoffs at TytoCare, IntelyCare (The roller coaster continues)
“Hope is not a business model”–advice from two VCs, with a bit more advice on basic banking (We unpack good advice for early-stage companies)
Mid-week roundup: telehealth success in opioid use disorder treatment, Epic sees fewer followup visits from telehealth vs in-office, telehealth usage slightly lower, HCA data theft may affect 11 million
Rock Health’s first half funding roundup adjusts the bath temperature to tepid, the bubbles to flat (2020-22 an aberration)
A short week in the US with the holiday wasn’t short of news. Bright Health and Molina made a $600M deal for California plans–as long as Bright stays solvent thru Q1 2024. Insurtechs proved to be disruptive but not innovative enough. And a potpourri of news from FDA requesting comments on home care tech, Japan, Alertacall on funding. A new mental health company targeting seniors is born while an old one struggles.
Short takes: FDA seeks feedback on home care tech; Japan care homes piloting AI; Author Health’s $115M bet on senior mental health; Alertacall’s Batchelor on ‘right fit’ finance support; Headspace in the wrong (layoff) space again
Why the ‘insurtechs’ didn’t revolutionize health insurance–and the damage they may have done (Back to the legacy payers)
Bright Health to exit insurance business, selling California plans to Molina for up to $600 million–contingent on surviving to 2024 (A dicey proposition all round)
Wrapping up June before the US Independence Day holiday next week had its own fireworks. Most far reaching–the changes spearheaded by FTC for HSR premerger notifications that will only quadruple the work. Babylon Health completing its going private arrangement with AlbaCore. Amazon delays Clinic rollout for three weeks facing tough data usage questions from senators. More pleasant looks at rural telehealth on a bucolic Irish island and supermarket trolley heart monitoring. Happy 4th!
Ireland’s Clare Island as multimodal rural telehealth and telemonitoring testbed (Very rural health on Ireland’s west coast)
FTC, DOJ float enhanced information requirements for HSR premerger notification filing process–what will be M&A effects? (More dampers on a down market?)
Embedding ECG sensors to a supermarket cart (trolley) handle as ‘first-line’ screening for atrial fibrillation (Bringing monitoring to everyday life)
Mid-week roundup: Optum buying Amedisys home care for $3.3B; Clover Health settles 7 shareholder lawsuits around SPAC non-disclosures; Walgreens cuts 2023 outlook, stock plummets 11%
Amazon Clinic delays 50-state telehealth rollout due to Federal data privacy, HIPAA concerns on user registration, PHI–is it a warning? (Amazon better heed it)
Babylon Health to go private with AlbaCore in planned ‘Take Private Proposal’, combine with MindMaze (Merging two very different companies)
Summer’s unusual chill and rain (here in NY area) reflects in our mix of news from Aledade’s jumbo Series F and smaller fundings to the continuing telenovela of Cano Health’s management. Owlet had a deserved bright spot with their BabySat FDA clearance. But the rest was pretty dreary with more on Oracle Cerner’s VA-related layoffs, ransomware attacks, shutterings from pet telehealth to Optum’s accelerator to an insurtech gone insolvent.
Week-end roundup: Walmart Health adds 3 FL centers; wearables nudge close to 50%; Dandelion cardiac AI performance pilot; Aledade’s $260M Series F; $10M for DUOS’ older adult assistance platform; Friday Health Plans to close
Ransomware roundup: TimisoaraHackerTeam (THT) attacks cancer centers; KillNet’s ‘Sudanese’ member; 101K ChatGPT accounts infostolen; LockBit attacker arrested on Federal charges
Wednesday roundup: Owlet BabySat monitor clears FDA; Rosarium Health seed $1.7M led by Rock Health; Optum Startup Studio shuts; CareRev lays off 100, changes CEOs; pet telehealth Fuzzy shuts, leaves workers and vendors in lurch
Mid-week update: Cano Health CEO finally booted, interim named; further information on Oracle Cerner layoffs (The Cano telenovela continues!)
A week that didn’t end well for upwards of 500 at the former Cerner working on VA, DoD contracts. A warning flare for companies in hospital digital health with contracts coming due. AI in the news with a new Orlov-older adults study, NYU Langone’s LLM, and BurstIQ’s acquired BI. Veradigm continues to figure out its books along with Elizabeth Holmes. And a UK case study on improved cancer care in Perspectives.
Rounding up the week-end: Oracle Cerner layoffs hit 500+ in VA, DoD groups (updated); AWS cash cow stumbles; Transcarent-ViewFi team on virtual MSK; Veradigm delays annual, quarterly reports again; Olive AI sells BI to BurstIQ (Heads rolling at Cerner just a start)
Perspectives: How robust patient scheduling and intake enable better patient access to cancer care – a UK case study
‘Warning flare’ study: will pandemic-induced digital health solutions get renewed by hospitals in 2023-4, or will they churn? (Get cracking with your account relationships)
‘The Future of AI and Older Adults 2023’ now published (Laurie Orlov’s latest analysis)
Mid-week roundup: Promising Langone AI/LLM predicts hospital readmits; Huma gains FDA 510(k) Class II clearance; telepsychiatry’s challenges; layoffs/asset buys/losses from 23andMe, Cityblock, Thirty Madison, Butterfly (The reset continues)
Theranos restitution status: Holmes’ defense claims $250/month repayment *after* release is unfair (She can’t make $25/month from prison!)
Of continued interest….
VA awards four remote patient monitoring companies to share in $1B Home Telehealth contract (Medtronic wins again plus 3 newbies)
Watch your cash burn! Now 31 months average for startups between Series A and B. Now what do you do? (Cautionary advice for startups)
Perspectives: How AI and ML can accelerate the growth of telemedicine across the globe (Thoughtful take on the up-and-downsides of both)
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