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Molina Healthcare, Inc. MOH inked a deal to acquire substantially all the assets of Affinity Health Plan (Affinity) for around $380 million, net of expected tax benefits and inclusive of an amount representing the company’s target allocation of the required regulatory capital. The company intends to fund it with cash in hand. Subject to certain closing conditions, it expects the deal to close in the second quarter of 2021.
The same is expected to be immediately accretive to the company’s adjusted earnings per share.
Affinity is a Medicaid managed care organization that caters to several members in New York City, Westchester, Orange, Nassau, Suffolk and Rockland counties in New York. Affinity’s premium revenues for the trailing 12 months ending Jul 31, 2020 came in at $1.3 billion. It exited August with around 284,000 Medicaid members.
The move is a perfect fit for the insurance giant, which
The Central and Eastern Europe (CEE) healthcare sector must shift focus to creating a successful healthcare system and attracting more healthcare investments. How can healthcare providers in CEE attract more healthcare investments? According to Infiniti’s industry experts, providers must adopt advanced healthcare technologies, such as cancer screenings, electronic patient registries, improve patient mobility and accessibility to healthcare, and follow practices like outcome-based reimbursement. With Infiniti’s solutions, healthcare providers can better understand their market, how to efficiently capitalize on factors fueling growth, and create a successful system. To gain a comprehensive understanding of the CEE healthcare sector, and learn how companies can encourage more healthcare investments, request a free proposal.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200930005606/en/
Three Key Factors Fueling Healthcare Investments in the CEE Region (Graphic: Business Wire)
Recently, reforming health services has become a priority on the political agenda, which has fueled growth in
Mr. Stewart to lead Healthcare Technology & Tech-Enabled Services franchise with over 25 years of experience as an investment banker, equity research analyst and industry operator
NEW YORK, Sept. 30, 2020 (GLOBE NEWSWIRE) — PJ SOLOMON, a leading financial advisory firm and independently operated affiliate of Natixis, has entered into healthcare investment banking with the hiring of Ryan Stewart as a Managing Director to build and lead its new Healthcare Technology & Tech-Enabled Services subsector.
Mr. Stewart specializes in advising healthcare technology & tech-enabled services companies, as well as financial sponsors that invest across the sector. At PJ SOLOMON he will continue to focus on core end-markets including: payer-tech & outsourcing, tech-enabled managed care, provider-tech, virtual care & remote patient monitoring and pharma-tech & real-world evidence. He brings more than 25 years of industry experience and expertise, having worked and advised
TAMPA, Fla., Sept. 30, 2020 /PRNewswire/ — Two Tampa-based companies, HealthAxis Group, LLC (HealthAxis), and Toney HealthCare Consulting (THCC), are collaborating to meet the unique needs of government-sponsored and commercial health insurance companies and their members. As experts in their respective areas of healthcare, the organizations draw upon each other to bring creative solutions to health plans to help them drive efficiencies, lower costs and improve health outcomes.
The arrangement brings together THCC’s advisory and medical management-focused service solutions with HealthAxis’ full-service third-party administration (TPA) services and claims and benefits management technology. THCC will provide leadership and guidance on clinical strategy and best practices in clinical operations, quality improvement, accreditation and regulatory compliance to joint customers. In addition, THCC deploys to health plans seasoned doctors, nurses, clinical social workers and therapists to manage and execute essential health management functions on an interim basis or for longer periods of
Industry leaders in healthcare, logistics and innovation will power the Canadian start-up as it scales to source, build and deliver a stable supply of PPE, testing and technology
VANCOUVER, BC, Sept. 30, 2020 /CNW/ – Maitri Health today proudly announced the global expertise and management team that will drive the start-up company’s unique healthcare supply platform and technology solutions.
“We have assembled an all-star team of leaders and innovators,” said Andrew Morton, CEO, Maitri Health. “Our new board of directors and strategic advisors bring deep experience in healthcare, public sector, logistics and supply chain, technology, capital markets and more. We couldn’t be happier. Maitri’s expanded team includes a former Canadian Minister of Health, one of the world’s foremost specialists in infectious diseases, and a globally recognized researcher and innovator in healthcare supply systems.”
“Our team brings integrity, invaluable skills and future-forward vision to help drive our mission
The MarketWatch News Department was not involved in the creation of this content.
Sep 30, 2020 (Heraldkeepers) —
Healthcare IT Consulting Industry
The global healthcare information technology consulting industry has boomed in recent years. The demand for competent IT solutions in the health care industry has long been ignored. The companies now need efficient IT solutions that scale large and fast. Here is a glimpse about how the industry is about to expand the next few years.
The global healthcare IT consulting business
In reference to the reports submitted by WGR, the global healthcare IT consulting industry was valued a whopping amount of $15.69 billion back in 2016. The industry is expected to grow fast at an amazing rate of 20.2 percent compounded annually. The market size by 2023 will have then achieved a massive figure of $56.9 billion. The opportunity remains vast for competitors all across the world.
(Reuters) – Healthcare, always a top concern for U.S. voters, has taken on even greater importance amid a coronavirus pandemic that has killed more than 205,000 Americans and cost millions more their jobs.
The death of liberal Supreme Court Justice Ruth Bader Ginsburg, meanwhile, has raised the stakes of the upcoming legal battle over Obamacare, formally known as the Affordable Care Act, when the high court hears the Trump administration’s effort to repeal the law days after the Nov. 3 election.
Here is a look at some of the vast differences on healthcare policy between Republican President Donald Trump and his Democratic challenger, former Vice President Joe Biden:
Trump has ceded much of the response to the pandemic to the states, rather than pursuing a national effort to expand testing, coordinate contact tracing and acquire protective equipment in bulk. He has also sent mixed messages on masks, which public health
Molina Healthcare (MOH) – Get Report said on Tuesday that it entered a definitive agreement to buy Affinity Health Plan assets for $380 million cash, expanding Molina’s Medicaid health benefits in New York.
“The acquisition of Affinity provides us with a stable base of membership and revenue and will deepen Molina’s service offerings in New York, allowing us to meet the needs of hundreds of thousands of additional Medicaid members,” Molina Chief Executive Joe Zubretsky said in a statement.
“The transaction provides added stability to Affinity’s Medicaid members and its state partner during this critical time.”
The deal should immediately add to Molina’s adjusted earnings per share, the Long Beach, Calif., company said.
Molina and Affinity expect to close the deal in the second quarter of 2021, subject to conditions including regulatory clearances.
Based in New York, Affinity is a Medicaid managed-care organization serving New York City and
EXTON, Pa., Sept. 29, 2020 /PRNewswire/ — Ricoh USA, Inc. today unveiled its Patient Information Management Service addressing one of the healthcare industry’s most pressing needs: processing patient information. Despite several years of a steady push toward digitization, manual, paper-based processes continue to prevail with healthcare workers. This analog approach poses a significantly negative impact to cost, efficiency and quality of care, especially today when cash flow and health information management is so crucial. The need for secured, reliable and efficient automation of patient information management has never been higher.
Ricoh’s Patient Information Management Service provides end-to-end automation of document-centric processes and correspondence through print, scan or fax to help minimize manual touch points, streamline processes, and reduce complexity. Previously, access to physical Protected Health Information (PHI) documents required employees to be in the office, however this digital, automated solution enables back office employees to work remotely and
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