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☆ CVS digs into primary care with $9.5 bln Oak Street Health deal
▼ + stars: | 2023-02-08 | by ( ) www.reuters.com time to read: +2 min

Feb 8 (Reuters) - CVS Health Corp (CVS.N) said on Wednesday it would buy Oak Street Health Inc (OSH.N) for about $9.5 billion in cash, expanding its healthcare services by adding hundreds of primary care clinics mostly for older people. Shares of the primary care firm rose 5% before the bell. The Oak Street deal echoes similar moves by rivals into primary care. Walgreens Boots Alliance (WBA.O) and Cigna (CI.N) have made investments in primary care provider VillageMD, and Amazon (AMZN.O) announced a $3.49 billion deal last year to buy One Medical (ONEM.O) to expand into the space. UnitedHealth Group Inc (UNH.N) also runs urgent care, primary care and surgical care centers.

CVS, the parent of its namesake pharmacies, is seeking to move deeper into the direct provision of healthcare. CVS Health Corp. is close to an agreement to acquire Oak Street Health Inc. for about $10.5 billion including debt, a deal that would rapidly expand the big healthcare company’s footprint of primary-care doctors with a large network of senior-focused clinics, according to people with knowledge of the matter. The companies are discussing a price of about $39 a share, the people said. The deal, if it goes through, could be announced as soon as this week, they said. CVS is scheduled to report earnings on Wednesday.

☆ Elevance Health Revenue Lifted by Higher Premiums
▼ + stars: | 2023-02-02 | by ( Dean Seal | Anna Wilde Mathews | ) www.wsj.com time to read: 1 min

Elevance Health Inc. reported higher revenue but a smaller profit for the fourth quarter as premiums rose in tandem with medical costs. The health insurer and healthcare-services provider, formerly known as Anthem Inc., said Wednesday that total revenue increased 9.2% to $39.93 billion, topping analyst expectations of $39.77 billion, according to FactSet.

☆ Elevance to Acquire Louisiana Nonprofit Health Insurer
▼ + stars: | 2023-01-24 | by ( Anna Wilde Mathews | ) www.wsj.com time to read: 1 min

Elevance Health Inc. said it agreed to acquire the nonprofit health insurer Blue Cross and Blue Shield of Louisiana, expanding its Blue business into a new state. Elevance, the parent of a major health insurer that offers an array of other health services as well, didn’t disclose terms of the deal in its Monday announcement. Spokeswomen for Elevance and Blue Cross and Blue Shield of Louisiana declined to comment.

☆ Teladoc Health cuts 300 jobs to shave costs
▼ + stars: | 2023-01-18 | by ( ) www.reuters.com time to read: +1 min

Companies Teladoc Health Inc FollowJan 18 (Reuters) - Teladoc Health Inc (TDOC.N) said on Wednesday it has removed "redundant roles" and cut 300 jobs, or 6% from its non-clinician global workforce, as the company plans to prioritize its commercial businesses in a challenging demand environment. These job cuts have resulted from a combined implementation of the telehealth company's restructuring plans and previously announced cost-saving measures, some of which were implemented in the fourth quarter of 2022. The restructuring process has also resulted in a reduction of office spaces in certain markets, and Teladoc will further review its real estate footprint under the cost-management drive. Teladoc said it will record $4.4 million of the total $21.4 million of charges related to these measures taken in the fourth quarter, but does not expect them to have a material impact on its annual results. Reporting by Khushi Mandowara and Bhanvi Satija in Bengaluru; Editing by Nivedita Bhattacharjee and Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.

☆ CVS Health in talks to buy Oak Street Health - Bloomberg News
▼ + stars: | 2023-01-09 | by ( ) www.reuters.com time to read: +1 min

Jan 9 (Reuters) - CVS Health Corp (CVS.N) is exploring an acquisition of primary care center operator Oak Street Health Inc (OSH.N), Bloomberg News reported on Monday citing people familiar with the matter. Shares of Oak Street Health rose 27% in after-hours trading after closing 4.25% higher at $22.57 on Monday, earning the Chicago-based company a market cap of $5.5 billion. CVS declined to comment while Oak Street did not immediately respond to a Reuters request. Oak Street Health runs primary care centers across United States for recipients of Medicare, the U.S. government insurance program for Americans aged 65 and older, and has private equity firms such as General Atlantic and Newlight Partners among its shareholders. CVS had also expressed interest in expanding into the primary care space, and was reportedly among the bidders to acquire primary care provider Cano Health before backing out.

☆ U.S. Embassy in Cuba reopening visa and consular services
▼ + stars: | 2023-01-04 | by ( Associated Press | ) www.nbcnews.com time to read: +4 min

HAVANA — The United States Embassy in Cuba is reopening visa and consular services Wednesday, the first time it has done so since a spate of unexplained health incidents among diplomatic staff in 2017 slashed the American presence in Havana. Cubans are now the second-largest nationality after Mexicans appearing on the border, U.S. Customs and Border Protection data shows. Visa and consular services were closed on the island in 2017 after embassy staff were affflicted in a series of health incidents, alleged sonic attacks that remain largely unexplained. While relations have always been tense between Cuba and the U.S., they were heightened following the embassy closure and the Trump administration’s tightening of sanctions on Cuba. Cuban officials have repeatedly expressed optimism about talks with the U.S. and steps to reopen visa services.

So if workplace weight loss programs don’t actually improve employee health — what is it they are attempting to do? And yet, workplace wellness programs that focus on weight loss and other fatphobic-related measures like BMI and fat percentage persist. There’s not much evidence to suggest these workplace weight loss programs even reduce costs. So we’re shaming fat folks, excluding people with disabilities and triggering those of us recovering from eating disorders for ... absolutely no reason at all. And any workplace wellness program that specifically incentivizes weight loss should be acknowledged as harmful and ended immediately.

WASHINGTON, Dec 29 (Reuters) - The U.S. government on Thursday filed a lawsuit accusing AmerisourceBergen Corp (ABC.N), one of the nation's largest drug distributors, of helping ignite the nation's deadly opioid epidemic by failing to report hundreds of thousands of suspicious orders of prescription painkillers. The government said AmerisourceBergen had since 2014 systematically refused or negligently failed to flag suspicious orders by pharmacy customers when it had reason to know that opioids were being diverted to illegal channels. "For years, AmerisourceBergen prioritized profits over its legal obligations and over Americans' well-being," Associate Attorney General Vanita Gupta told reporters. In a statement, AmerisourceBergen called the lawsuit an improper attempt to "shift blame" and the burdens of law enforcement from the Justice Department and DEA to the companies they regulate. The Justice Department said AmerisourceBergen for years understaffed and unfunded programs designed to ensure compliance with the Controlled Substances Act.

☆ CIOs in 2023 Want to Know: Who’s Got Talent?
▼ + stars: | 2022-12-27 | by ( Isabelle Bousquette | ) www.wsj.com time to read: +5 min

As the information technology talent gap continues into 2023, chief information officers are augmenting recruiting efforts with new models like upskilling, job sharing and rotations as well as raising salaries and offering perks to retain workers. Some also believe the shifting economy could make it easier to fill vacancies, although the short term talent market remains challenging. “It’s been a source of should we, not deprioritize, but re-sequence the work that we’re doing,” Kroger CIO Yael Cosset said of the talent shortage. Duke Energy is developing certification curricula and joining with software companies on education programs to help internal talent learn new skills, said CIO Bonnie Titone. SHARE YOUR THOUGHTS What do you think CIOs can do to find and retain talent in 2023?

☆ Analysis: Wood’s ARK slammed by higher interest rates in 2022 along with other growth funds
▼ + stars: | 2022-12-27 | by ( David Randall | ) www.reuters.com time to read: +4 min

The ARK Innovation Fund has lost around 67% year to date, more than tripling the decline of the S&P 500 index (.SPX). With the S&P 500 on pace for its biggest annual decline since the Great Financial Crisis, few funds are likely to escape 2022 unscathed. Wood's fund ranked 3,544 among all 3552 actively-managed U.S. equity mutual funds tracked by Morningstar. The worst performing fund of the year, by comparison, was the Voya Russia fund, which is down 92% for the year to date. CRASH LANDINGOther funds that soared in recent years on the backs of large bets on technology stocks fell on hard times in 2022.

☆ Cramer's lightning round: Teladoc Health is not a good situation
▼ + stars: | 2022-12-22 | by ( Krystal Hur | ) www.cnbc.com time to read: +1 min

Loading chart...PagSeguro Digital Ltd : "We have to remember it's from Brazil, so therefore it's politically unstable. Loading chart...ZIM Integrated Shipping Services Ltd : "These dividends are variable and can go down, and I don't want you to touch it." Loading chart...Teladoc Health Inc : "I've used the product, I like it very much, but it is not a good situation." Loading chart...ProPetro Holding Corp : "We like the oils that pay big yields because they have variable dividends, and I'm going to suggest that you buy Pioneer ." Loading chart...Kirby Corp : "It's a great idea, but you can buy that stock more cheaply if you just wait."

More adults in the U.S. expect to be more stressed in 2023 than at this time last year, but they also say they're more willing to take steps to tackle that stress, a survey released Wednesday finds. And about 37% of adults (nearly 2 out of 5) rated their mental health as “fair or poor” this month, up from 31% a year ago. Young adults, low-income adults and parents were most likely to rank their mental health as fair or poor. At the same time, more adults say they plan to take steps to improve their mental health next year, such as journaling or going to therapy, the survey found. McKernan said other ways people can take care of their mental health include paying attention to signs of stress.

☆ Cardinal Health Hires Finance Chief From Sysco
▼ + stars: | 2022-12-19 | by ( Dean Seal | ) www.wsj.com time to read: 1 min

Cardinal Health Inc. has hired Aaron Alt, the chief financial officer of Sysco Corp. , to be its next finance chief. The Dublin, Ohio-based healthcare-products distributor said Monday that Mr. Alt will take over from Trish English, who has served as interim finance chief since August when then-CFO Jason Hollar was tapped as chief executive officer. Mr. Alt will succeed Ms. English on Feb. 10, the company said. Mr. Alt has been with Sysco since December 2020, according to his LinkedIn profile. He previously served as CFO for Sally Beauty Holdings Inc. and held senior executive roles at Target Corp. Write to Dean Seal at dean.seal@wsj.comCopyright ©2022 Dow Jones & Company, Inc. All Rights Reserved.

ETMeta up on J.P. Morgan rating upgradeDigital World Acquisition down on CFO exitFutures down: Dow 1.16%, S&P 1.05%, Nasdaq 0.60%Dec 16 (Reuters) - Wall Street's main stock indexes were set to extend losses on Friday as fears of a looming recession, sparked by the Federal Reserve's relentless battle against inflation, hammered sentiment. The Bank of England and the European Central Bank were the latest ones to indicate an extended rate-hike cycle on Thursday. The simultaneous expiration of stock options, stock index futures and index options contracts later in the day, known as triple witching, could cause volatility through the trading session. ET, Dow e-minis were down 384 points, or 1.16%, S&P 500 e-minis were down 41.25 points, or 1.05%, and Nasdaq 100 e-minis were down 68.5 points, or 0.6%. Reporting by Shubham Batra, Ankika Biswas and Johann M Cherian in Bengaluru; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

[1/2] A trader works on the trading floor at the New York Stock Exchange (NYSE) in New York City, U.S., December 14, 2022. Adding to angst, New York Fed President John Williams said it remains possible the U.S. central bank raises rates more than it expects next year. The policymaker added that he does not anticipate a recession from the Fed's aggressive tightening. The simultaneous expiration of stock options, stock index futures and index options contracts later in the day, known as triple witching, could cause volatility through the trading session. The S&P index recorded no new 52-week highs and 15 new lows, while the Nasdaq recorded 29 new highs and 267 new lows.

☆ Guardant DNA blood test finds 83% of colorectal cancers in trial, shares fall 39%
▼ + stars: | 2022-12-15 | by ( Deena Beasley | ) www.reuters.com time to read: +2 min

Cologuard, a stool-based DNA test, identifies 92% of colorectal cancers and 42% of pre-cancerous polyps, according to data from Exact Sciences (EXAS.O), which markets the test. Guardant said that a subsequent colonoscopy ruled out colon cancer in 10% of people who tested positive with its DNA blood test. "This is a huge unmet clinical need," Talasaz said of a blood test for detecting colon cancer. "There are still 50 million people out there who are not complying with colorectal cancer screening." Guardant is currently enrolling patients in a different trial of its DNA blood test for detecting lung cancer, Talasaz said.

These psychiatric drugs are regulated by the federal government as controlled substances that have high potential for abuse and addiction but are not opioids. The impact on independent pharmacies' prescriptions of psychiatric drugs from the widening crackdown on opioids has not been previously reported. It is dedicated to mitigating the abuse of controlled substances without interfering in good-faith clinical decisions made by doctors, she said. "Pharmaceutical distributors must walk a legal and ethical tightrope between providing access to necessary medications and acting to prevent diversion of controlled substances," Esposito said in a written statement. The FDA, the HHS agency that administers the list of controlled substances, did not respond to a request for comment.

☆ Daylight Saving Time debate sheds light on growing racial inequities in sleep health
▼ + stars: | 2022-11-25 | by ( Jacqueline Howard | ) edition.cnn.com time to read: +10 min

The American Academy of Sleep Medicine, the Sleep Research Society and other medical groups have advocated for ending the practice, calling for the adoption of a permanent standard time that would not involve shifting forward each spring and falling back each autumn. She authored a paper, published in September in the journal Sleep, detailing the potential health benefits of adopting a permanent standard time. Now, some sleep researchers worry about the potential effects that continuing to change standard time twice each year may have on sleep health inequities. “Fortunately, sleep health is largely modifiable.”As for the inequities seen in sleep health, it’s not that White adults don’t also experience a lack of sleep and its health consequences – but people of color appear to disproportionately experience them more, and that’s believed to be largely due to social systems in the United States. Improving sleep health has been a national objective in the federal government’s past two Healthy People programs, noted Caraballo-Cordovez, who is not involved in the programs.

The following are major companies that were accused of contributing to the crisis, and settlements or judgments involving those companies. Teva Pharmaceutical Industries Ltd (TEVA.TA)-In November, finalized claims nationwide for $4.25 billion, some of which is to be paid as a supply of the overdose-reversing drug naloxone. AbbVie Inc (ABBV.N)-In November, finalized a $2.37 billion nationwide settlement resolving claims against Allergan, a company it acquired in 2020. Endo International Plc (ENDPQ.PK)-Reached a $450 million settlement with more than 30 states as part of a bankruptcy filing in August. Mallinckrodt Plc (MNK.A)-Reached a $1.7 billion nationwide settlement as part of its bankruptcy reorganization plan, approved in February.

☆ Cramer's lightning round: AST SpaceMobile is an exciting thing, not a stock
▼ + stars: | 2022-11-18 | by ( Krystal Hur | ) www.cnbc.com time to read: +1 min

Loading chart...AST SpaceMobile Inc : "It's an exciting thing, not a stock. I think a stock is a company that makes money and then returns some of that money to you and trades inexpensively, and that one doesn't qualify." Loading chart...Plains GP Holdings LP : "Enterprise Product I think is better than them, but that's alright. Loading chart...Blue Bird Corp : "That school bus company is not to be touched, because they're doing very poorly." Loading chart...MP Materials Corp : "It's doing a great job, they've got a contract with GM .

☆ Cardinal Health Quarterly Sales Up 13%
▼ + stars: | 2022-11-04 | by ( Dean Seal | ) www.wsj.com time to read: 1 min

Cardinal’s bottom line was dragged lower by a $154 million goodwill impairment charge from its medical business, along with the impacts of inflation. Cardinal Health Inc. said Friday that its top line rose 13% in its recently completed quarter, with gains from its pharmaceutical business offsetting a decline in its medical segment. The Dublin, Ohio, healthcare-products distributor said its profit for its fiscal first quarter ended Sept. 30 fell to $110 million, or 40 cents a share, from $271 million, or 94 cents, a year ago. The company’s bottom line was dragged lower by a $154 million goodwill impairment charge from its medical business, along with the impacts of inflation, Cardinal said.

☆ Cramer's lightning round: Cano Health is a buy
▼ + stars: | 2022-11-04 | by ( Krystal Hur | ) www.cnbc.com time to read: +1 min

Loading chart...Cano Health Inc : "I think it's a buy." I do think that [Johnson & Johnson ] is going to spin off its consumer product company, and that's going to be very, very good." But I think you're okay." Loading chart...Nike Inc : "I don't think buying Nike here is that bad." Disclaimer: Cramer's Charitable Trust owns shares of Johnson & Johnson.

☆ 'Political fix' needed for Wikileaks' Assange - lawyer
▼ + stars: | 2022-10-21 | by ( ) www.reuters.com time to read: +3 min

SYDNEY, Oct 21 (Reuters) - A lawyer for WikiLeaks founder Julian Assange said an "urgent political fix" is needed in his case because legal appeals against his extradition to the United States could continue for another decade and his health is declining. In June, Britain's Home Secretary approved Assange's extradition to the United States. "This case is political and needs an urgent political fix," she added. The saga began at the end of 2010 when Sweden sought Assange's extradition from Britain over allegations of sex crimes. Britain's Home Affairs office has said the courts had concluded Assange's extradition would not be incompatible with his human rights, and that he would be treated appropriately.

During the pandemic, states and insurers overnight did what years of advocacy for telemedicine had failed to accomplish. During the pandemic, states and insurers overnight did what years of advocacy for telemedicine had failed to accomplish. It also increases patients’ access to critical information because they can see their own charts and ask questions at any time. Telemedicine access in rural areas is particularly urgent given how many hospitals in these places are shuttering their doors. Whatever the reasoning, navigating the politics and funding streams of our complicated health care system oftentimes takes years to create lasting, positive change.

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