What You Should Know:
Life sciences investment firm OrbiMed announced $3.5 billion in commitments for its latest private investment funds, including $1.5 billion for OrbiMed Private Investments VIII, $800 million for OrbiMed Asia Partners IV, and $1.2 billion for OrbiMed Royalty & Credit Opportunities III.
The three new funds include a broad range of medical institutions, university endowments, foundations, pension funds and sovereign wealth funds.
- OrbiMed Private Investments
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Partners
Innovaccer Reaches $1.3B Valuation, Launches Health Cloud Platform
What You Should Know:
- Innovaccer closes Series D round of growth capital bringing Innovaccer at a total valuation of $1.3 billion.
- In addition, the company has launched the Innovaccer Health Cloud, a platform as a service that combines the company’s Data Activation Platform and application suite with an extensive set of platform services and tools that allow customers and partners to easily develop interoperable applications that improve patient outcomes and lower
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CVS Launches Community-Based Strategy to Address COVID-19 Vaccine Education and Equity
What Should Know:
- CVS Health unveils community-based strategy increase access to COVID-19 vaccinations for vulnerable communities and advance vaccine education while combating hesitancy.
- The strategy includes a strategic partnership with Lyft to help underserved communities access vaccination appointments by providing free or discounted rides for those in need.
CVS Health unveils its community-based strategy to address potential inequities related to COVID-19 vaccine access in
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11 Best Practices of a Successful Care Model Transformation Plan
Health systems across the country will require a plan to react to government deep spending cuts and revenue shortfalls due to the COVID-19 pandemic. Hospital services have seen a significant downturn in demand in 2020, and the recent resurgence in cases has led to further decreases. The public health emergency has also resulted in innovation, most notably telehealth, which has been granted temporary pay parity during the pandemic.
Still, hospitals and health systems face a year of losses, but
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Best Practices to Ensure Telehealth Security and Protect Patient Data
To support the sudden increase in test results and medical records being transmitted during the pandemic, hospitals, laboratories, and pharmacies implemented additional devices and remote connections into their networks. After the Office for Civil Rights (OCR) lifted penalties around telehealth to expand care options amid the crisis, new platforms were adopted that were not previously allowed by the Health Insurance Portability and Accountability Act (HIPAA).
This exercise of discretion
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Kroger Health to Offer Smartphone-Enabled COVID-19 Tests Nationwide
What You Should Know:
- Kroger Health, the healthcare division of The Kroger Co. announced plans to offer the first smartphone-enabled, at-home Gauss COVID-19 Rapid Antigen Test Kit to patients nationwide, expanding the company's existing portfolio of in-clinic and employer-focused COVID-19 testing solutions.
- Kroger Health expects the at-home rapid antigen test will be available to purchase on Kroger.com and over the counter at its 2,200 pharmacies nationwide.
The test, developed by
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Vytalize Health to Acquire Patient Financial Experience Platform MedPilot
What You Should Know:
- Vytalize Health to acquire patient financial experience platform MedPilot to accelerate data-driven engagement technology to its ACO's Medicare population.
- An alumnus of the Cedars-Sinai Accelerator, MedPilot’s platform has already helped over 1 million patients to date and boasts a 97% patient satisfaction score.
Vytalize Health, a leading provider of value-based healthcare announced it is acquiring MedPilot, a Cleveland-based patient financial
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Owlet Smart Baby Monitor to Go Public in SPAC IPO Deal
What You Should Know:
- Owlet Baby Care Inc. (“Owlet” or the “Company”) and Sandbridge Acquisition Corporation, a special purpose acquisition company (SPAC) co-sponsored by affiliates of Sandbridge Capital and PIMCO private funds have entered into a definitive merger agreement go public. The company plans to be traded on the New York Stock Exchange (NYSE) under the symbol “OWLT.”
- The combined company to have an implied initial enterprise value of approximately $1,074 million, with the
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Canadian-Based EMR MEDFAR Raises $25M to Expand Into North America
What You Should Know:
- MEDFAR Clinical Solutions, a Montreal-based Electronic Medical Record (EMR) provider in Canada, announced today a minority investment of nearly $25 million led by Walter Capital Partners.
- MEDFAR’s cloud-based EMR solutions, MYLE and PLEXIA, are built with physicians in mind. MEDFAR R&D is performed in partnership with doctors and healthcare administration and is driven by our clients' needs.
- The MYLE EMR, tailored to general practitioners,
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Sharecare to Go Public in SPAC IPO Deal, Reaching $3.9B Valuation
What You Should Know:
- Digital health company Sharecare and special purpose acquisition company (SPAC), Falcon Capital Acquisition Corp, today announced an agreement to merge to go public on the NASDAQ under the ticker symbol SHCR at enterprise value of $3.9B.
- The transaction is expected to be funded through a combination of Falcon's $345 million of cash in trust (assuming no redemptions) supported by a $425 million fully committed PIPE at $10.00 per share and the Anthem
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