Baylor Scott & White Health seeks Healthcare Service Providers to develop advanced treatments & personalized care

Key Insights and Signals – Hospital & Healthcare

Centre Setup
Encompass Health to build a 50-bed inpatient rehabilitation hospital in Daytona, Florida
This hospital will offer 24-hour nurse care and physical, occupational, and speech therapies. The facility will have individual patient rooms, a therapy gym, an ADL suite, a cafeteria, and a pharmacy. Read More>>
Premier Health is constructing a medical office building in Xenia
The 15,000-square-foot building will house primary care, obstetrics, and gynecology providers and laboratory services. This building will house providers from Xenia and beyond. Read More>>
Canopius to use software solution from Allphin’s
The new software would allow it to digitize unstructured submission data, identify every single risk, enrich them with external data and generate actionable insights. Read More>>
Merger and Acquisition
CareMax acquires value-based Medicare business from Steward Health Care
CarMax’s network grows to 2,000 providers and over 200,000 seniors in 10 states. They’re expanding value-based opportunities for Steward’s 380,000 Medicare Advantage and 480,000 traditional Medicare customers. Read More>>
Centene agrees to divest Magellan Specialty Health to Evolent Health
Deal consideration includes USD 650 Mn at the close plus additional contingent consideration of up to USD 150 Mn based on 2023 performance. The NIA team and platform will be fully integrated into Evolent’s value-based specialty care business. Read More>>
Executive Movements
Amedisys names Scott Ginn as acting COO
Ginn will be responsible for all of Amedisys’ home health, hospice, and personal care operations in addition to his current duties as Chief Financial Officer. Read More>>
Geisinger CIO leaves for software company
John Kravitz, the former CIO of the company, has left the health system for software company Workday. Mr. Kravitz has been the CIO of Geisinger since 2009, and he most recently helped steer Geisinger’s cloud migration to AWS. Read More>>
Rob Allen was selected as President and CEO of Intermountain Healthcare
Rob Allen, Intermountain Healthcare’s COO, is now President & CEO. He was picked after a careful search coordinated by the Intermountain Board of Trustees. Rob embodies the Intermountain values and will provide steady, servant leadership to the organization. Read More>>
Financial and Market Activity
Universal Health Services up 18.5% since last earnings report
The company reported third-quarter 2022 adjusted earnings of USD 2.54 per share, which beat the Zacks Consensus Estimate by 5.8%. UHS quarterly results benefited from higher patient admissions at its acute care and behavioral health care facilities. Read More>>
SSM Health reports USD 484 Mn loss amid excess costs and investment problems
SSM Health lost USD 484 Mn in the last nine months. This figure compares with a net income of USD 447 Mn for the same period last year. The losses were due to pressure from increased labor & supply costs and declines in investments. Read More>>

Key Insights and Signals in Medical Devices

Centre Setup and Expansion
Boston Scientific expands operations in Malaysia
The company has unveiled a new expansion of its operations in Batu Kawan, Penang, Malaysia. The expansion is expected to enable approximately 300 jobs in the coming years and includes a 110,000-square-foot global distribution center. Read More>>
Henry Schein to expand its SolutionsHub with Rimidi
Per the agreement, Henry Schein will offer its clinic, medical group, and health system customers access to Rimidi’s cloud-based software platform. Read More>>
Merger and Acquisition
ResMed acquires MEDIFOX DAN for USD 995 Mn
ResMed intends to retain MEDIFOX DAN’s employees, locations, and business processes. MEDIFOX DAN will report to ResMed SaaS President Bobby Ghoshal. Read More>>
Alphabet’s Verily and ResMed launch sleep platform Primasun
Primasun will initially evaluate patients with insomnia, provide guidance to improve sleep hygiene, and connect patients with certified sleep physicians who diagnose and treat sleep apnea and other sleep disorders. Read More>>
Executive Movements
Invacare appoints Geoff Purtill as President and CEO
The Board determined that Geoff is the right steward of the company as it undergoes significant transformation and embarks on a new chapter. Read More>>
ResMed appoints Sandeep Gulati as General Manager, South Asia
In his new role, Sandeep will be responsible for further growth in the Indian market and ensuring that there is increased awareness about sleep and respiratory disorders. Read More>>
Coloplast appoints a new President of its global Interventional Urology business
Effective January 2, 2023, Tommy Johns will enter a new role as President & Senior VP of the company. He brings 30 years of experience in the medical device industry through his careers with Medtronic, Smiths Medical, and Coloplast. Read More>>
Financial and Market Activity
ConMed lowers full-year guidance despite higher Q3 sales
Staffing shortages, supply-chain challenges, and foreign-currency headwinds caused the company to lower guidance for the remainder of the year despite an 11% increase in net sales Q3. Read More>>
Accelerate Diagnostics reports Q3 2022 financial results
Gross margin was 26% for the quarter, compared to 32% in the second quarter of the prior year. Selling, general, and administrative costs for the quarter were USD 8.3 Mn, compared to USD 10.8 Mn from the same quarter of the prior year. Read More>>

Key Insights and Signals in Pharmaceutical

Merger and Acquisition
Imago Shares surge 104% on Buyout Offer from Merck
Imago would be acquired by Merck for USD 36 per share in cash, amounting to USD 1.35 Bn. Per the terms of the acquisition, Merck, through a subsidiary, will initiate a tender offer to acquire all the outstanding stock of Imago BioSciences. Read More>>
Executive Movement
Allergy Therapeutics hires interim CFO as Nick Wykeman steps down
Martin Hopcroft was previously CFO at Novasep SA, a supplier of pharmaceuticals and biopharmaceuticals. In the role, Hopcroft will report to Chief Executive Manuel Llobet, once Wykeman steps down this month to pursue non-executive roles. Read More>>
Financial and Market Activity
Organon Q3 results show promising acquisitions but mixed portfolio sales
The company’s third quarter results have shown steady growth, with a 3% increase in revenues, and the third consecutive growth quarter. Q3 revenue stands at USD 1.5 Bn, and quarterly dividend announced at USD 0.28 per share. Read More>>
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Latest Industry Insights from Draup Braindesk

Financial Overview 

  • Fresenius Medical Care’s revenue fell 1% in 2021 due to unfavorable exchange rate effects. 

Key Focus Areas

  • Fresenius Medical Care aims to improve quality and personalized care. It also aims to develop a global Quality Management System by 2024. 
  • Fresenius Medical Care’s digitalized healthcare services and products increase pandemic-related access to care. 
  • Fresenius Medical Care improved flexible working, introduced virtual learning possibilities, and adapted to a virtual environment in 2021. 
  • Fresenius Medical Care will produce new, competitive goods and enhance its global presence in emerging countries. 
  • Fresenius Medical Care operates its business in 40+ locations. Greater Boston Area, United States, and Frankfurt Am Main Area, Germany, are the major locations with a significant technology Workforce. 
  • Some of the key projects across the top locations are clinical development across digital patient solutions, ultrasound technology, virtual reality, and connected health platforms.

Outsourcing Engagements

  • Outsourced segments include Application Development & Maintenance, Infrastructure Management Systems, and Consulting & System Integration. 
  • Fresenius Medical Care’s top outsourcing partners include Virtusa, Deloitte, and Capgemini.

Funding Alert

MilliporeSigma invests USD 286 Mn in U.S. Drug Safety Testing Capacity
This investment will significantly increase the company’s ability to conduct biosafety testing and analytical development services. Read More>>

Startup Spotlight

Company – Juvena Therapeutics
Total Funding USD 49.22 Mn
About: Juvena Therapeutics is a venture-backed biopharma startup discovering novel protein-based therapeutics that promote tissue regeneration in the elderly and treat various age-related diseases. Read More>>

Latest Reports Published in Draup

AstraZeneca plc Account Intelligence Report
AstraZeneca wants to come up with a digital solution for people with chronic kidney disease (CKD) that will help doctors provide better kidney care. Read More>>
Baylor Scott & White Health Account Intelligence Report
Baylor Scott & White Health intends to collaborate with healthcare service providers and tech companies to offer better care and more advanced treatments. Read More>>
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