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Allscripts to sell CarePort Health business for $1.3 billion

October 13, 2020

Allscripts Healthcare Solutions is selling its care coordination subsidiary CarePort Health to WellSky, the companies said Tuesday.

WellSky, a company that develops software tools for post-acute care providers, has entered into a definitive agreement to acquire CarePort for $1.35 billion, representing more than 13 times CarePort’s revenue over the last 12 months and roughly 21 times the company’s adjusted earnings before interest, taxes and amortization.

CarePort represents roughly 6% of Allscripts’ revenue.

Allscripts and WellSky, which is owned by private-equity firms TPG Capital and Leonard Green & Partners, expect the sale to close before year-end.

WellSky officials said buying CarePort, which connects acute and post-acute care providers and payers, will better position the company to manage the acute-care discharge process, as well as tracking for patients across post-acute care settings.

Under the agreement, CarePort’s customers and employees will transition to WellSky.

“Together with CarePort, WellSky will establish new, meaningful connections

Medical Alley Shatters Records, Breaks $1 Billion Barrier in Three Quarters

October 13, 2020

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The Medical Alley Association released their Q3 Investment Report Tuesday, revealing a record-breaking $1 billion raised in the first three quarters of 2020.

A year after raising over $1 billion in capital for the first time ever, Medical Alley companies accomplished the feat again, this time needing just three quarters to pass the $1 billion mark. In total, 58 Medical Alley companies have raised $1,015,712,605 so far this year, showing the strength of the early- and growth-stage ecosystem here and proving that 2019’s billion-dollar year was a show of ongoing growth. Digital health currently leads all sectors, having raised more than $658.6 million this year, but medical device companies are drawing substantial interest as well, with $315 million brought in so far this year.

Of the more than $1 billion raised this year, $759.3 million was raised in the third quarter alone, led by Bright Health’s $500 million Series E

UC Davis Launches $2 Billion Fundraising Campaign for Student Support, Health, Climate Change and More

October 9, 2020

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| Health Current Events

The University of California, Davis, publicly launched a $2 billion fundraising campaign today (Oct. 9), the largest philanthropic endeavor in its history. This bold goal will propel the university’s work to prepare future leaders, sustain healthier communities, and bring innovative solutions to today’s most urgent challenges.

The campaign, “Expect Greater: From UC Davis, for the world,” will harness the power of philanthropy to address defining issues of our time such as pandemic response, climate change, public safety and more.

“While the COVID-19 pandemic and other current events have significantly impacted our community, they have also brought out the best of our unique UC Davis strengths in innovation and collaboration,” Chancellor Gary S. May said. “I’m tremendously proud of the remarkable work that happens here every day — work that our philanthropic partners are central to advancing and elevating.”

Expect Greater launches at a time of growing philanthropic momentum at UC

Clover Health is going public in a deal worth over $3 billion

October 8, 2020

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Clover Health is going public in a $3.7 billion blank check deal.
And the insurtech is setting itself up as a force to be reckoned with in the Medicare Advantage space.
Insider Intelligence publishes hundreds of insights, charts, and forecasts on the Digital Health industry with the Digital Health Briefing. For a limited time, you can try the Briefing for a full week for just $1!

The insurtech is set to go public via a “blank check” deal worth $3.7 billion through which it’ll merge with a special purpose acquisition company (SPAC), per MedCity News.

The number of medicare advantage plans that beneficiaries can choose from is rising

Clover Health goes public with $3.7 billion deal.

Business Insider Intelligence

For context, startups use SPACs as an avenue to the public market for a few reasons: These deals are often quicker due to a streamlined negotiation process and can be safer during periods of market volatility—which we’re seeing amid the pandemic—because they’re not contingent

Clover Health laid out ambitious growth plans as part of its $3.7 billion deal, but they rely on an untested new Medicare experiment

October 6, 2020

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Clover Health president and chief technology officer Andrew Toy
Clover Health

The Social Capital SPAC led by billionaire Chamath Palihapitiya is acquiring Clover Health in a $3.7 billion deal that’ll take the health insurance company public.
In 2021, Palihapitiya projects the company will grow its membership roughly five times what it was this year.
Clover Health president and chief technology officer Andrew Toy said that projected growth largely comes from the potential participation in a new Medicare program that’s yet to be finalized.
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Social Capital’s Chamath Palihapitiya is looking to acquire the health insurance company Clover Health via a SPAC.

The special-purpose acquisition company Social Capital Hedosophia Holdings Corp. III will merge with Clover in a $3.7 billion transaction that’s slated to close in 2021, the companies said in a statement.

Clover offers private health-insurance plans

Global Anti-aging Treatment Market to Surpass US$ 34.49 Billion by 2027, Says Coherent Market Insights (CMI)

October 5, 2020

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According to Coherent Market Insights, the global anti-aging treatment market is estimated to be valued at US$ 21.06 billion in 2020 and is expected to exhibit a CAGR of 7.3% over the forecast period (2020-2027).

Key Trends and Analysis of the Global Anti-aging Treatment Market:

Key trends in the market include increasing launches of anti-aging treatment products, increasing number of aesthetic procedures, and increasing acquisitions, partnerships, and agreements by key players. These are expected to aid in growth of the market.

According to the 2018 Plastic Surgery Statistics Report by the American Society of Plastic Surgeons, approximately 17.7 million cosmetic procedures were performed in the U.S. in 2018. According to the same source, the top three minimally invasive cosmetic procedures include botulinum toxin type A, soft tissue fillers, and chemical peel.

Moreover, key players are focusing on raising finances through investments by private equity platform in order to enhance their

Global Eye Health Supplements Market Size Worth $2.4 Billion By 2027: Grand View Research, Inc.

October 5, 2020

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SAN FRANCISCO, Oct. 5, 2020 /PRNewswire/ — The global eye health supplements market size is expected to reach USD 2.4 billion by 2027, expanding at a CAGR of 6.1%, according to a new report by Grand View Research, Inc. Rising elderly population, growing exposure to blue light, and increasing prevalence of various vision disorders such as macular degeneration, refractive errors, cataract, inflammation, diabetic retinopathy, corneal opacity, trachoma, and dry eye syndrome are the major factors driving the market. In addition, uneven quality of eye care services, workforce shortages, lifestyle changes leading to less time spent outdoors, poor nutritional habits and dropping food quality, and increasing awareness regarding eye health is further boosting the market growth.

Key suggestions from the report:

Lutein and Zeaxanthin supplements emerged as the leading ingredient type segment in 2019 with a revenue share of 31.2% in the market
The Age-related Macular Degeneration (AMD)

U.S. HHS announces further $20 billion funding to healthcare providers

October 3, 2020

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(Reuters) – The U.S. Department of Health and Human Services on Thursday announced a fresh round of $20 billion funding for frontline healthcare providers dealing with the COVID-19 pandemic.

The new allocation will take into account financial losses and changes in operating expenses caused by the coronavirus, the agency said, adding that providers that have already received relief fund payments can also apply for more funds.

Providers who have recently begun practice and behavioral health providers grappling with a surge in mental health and substance abuse issues since the virus outbreak can also apply.

The move comes as prevalence of symptoms of anxiety and depressive disorders surged in the second quarter compared to a year ago, according to a recent Centers for Disease Control and Prevention report https://www.cdc.gov/mmwr/volumes/69/wr/mm6932a1.htm.

Since the start of the pandemic, the U.S. government has announced billions of dollars in support for hospitals and medical providers to

U.S. faces shortage of up to 8 billion meals in next 12 months, leading food bank says

October 2, 2020

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| Health Food

He is among tens of millions of Americans who have turned to a local food bank for help after becoming newly food insecure because of the pandemic and its fallout. About 10 percent of American adults, 22.3 million, reported they sometimes or often didn’t have enough to eat within the past week, according to the U.S. Census Bureau’s most recent Household Pulse Survey fielded between Aug. 19 and 31. That is up from 18 million before March 13.

Feeding America, a nationwide network of more than 200 food banks, projects a 6 billion to 8 billion meal shortfall in the next 12 months, a deficit that may be magnified with federal food assistance programs set to expire in the coming weeks and months. The Feeding America analysis estimates the total need for charitable food over the next year will reach 17 billion pounds, more than three times last year’s distribution.

Modifiable Health Risks Linked to more than $730 Billion in US Health Care Costs

September 30, 2020

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| Global Health

CHICAGO and SEATTLE, Sept. 30, 2020 /PRNewswire/ — Modifiable health risks, such as obesity, high blood pressure, and smoking, were linked to over $730 billion in in health care spending in the US in 2016, according to a study published in The Lancet Public Health. Researchers from the Institute for Health Metrics and Evaluation (IHME), an independent global health research center at the University of Washington School of Medicine, and Vitality Group, found that the costs were largely due to five risk factors: overweight and obesity, high blood pressure, high blood sugar, poor diet, and smoking. Spending associated with risk factors in 2016 constituted 27% of the $2.7 trillion spent on health care that was included in the study.

“Given that US health care expenses are almost double that of other developed nations, we set out to understand how much of these costs could be attributed to modifiable