GSK teams with King’s College to work on new AI-led Cancer research
Key Insights and Signals – Hospital & Healthcare
Centre setup and expansion Cigna expands Medicare Advantage plans to 3 new states, marking 3rd straight year of growth Cigna will be entering three new states and 108 new counties. The move means the insurer will cover 26 states and Washington, D.C. now including Connecticut, Oregon, and the expansion marks geographic growth of 30 percent since last year and 80 percent since 2019. Read More>> Novant Health to begin construction of USD 222 Mn critical care tower The tower will have 60 critical care and 36 patient rooms and a redesigned surgical suite. The rooms will be larger for more privacy and natural light. The tower will be completed in late 2024, but interior renovations won’t be finished until 2027. Surgical services will not stop during the process. Read More>> Lee Health buys Western Cape Coral site for eventual outpatient medical complex Lee Health has approved the purchase of nearly 23 acres in Western Cape Coral for the future site of a medical complex. Lee Health officials also plan to eventually build an 82-bed hospital on the site, though no formal plans have yet been approved. The public health system is spending about USD 3.7 Mn for the property in the 2800 block of SW Pine Island Road. Read More>>Executive Movement Instagram’s exec joins Calm as Head of Global Communications Calm has hired Instagram executive Carolyn Merrell to lead global communications at the sleep and meditation app. Merrell was most recently the global head of policy programs at Instagram, where she focused on campaigns about mental health awareness. Merrell will be based in Los Angeles and report to Monica Austin, Calm’s Vice President, Marketing. Read More>> Claims veteran Andrew McBride to lead strategic oversight at Everest Re Everest Insurance has appointed industry veteran Andrew McBride as Senior VP, Global Head of Claims. Mr. McBride will lead the strategic oversight and holistic management of all aspects of commercial insurance claims operations worldwide. Read More>>Deals UnitedHealthcare, Wellstar disagreement could leave 80,000 people at risk of losing in-network coverage The contract is set to expire between UnitedHealthcare and Wellstar Health System. If an agreement is not reached, 80,000 insured members could find themselves with doctors outside their network. For several years, Wellstar Health has been working to renegotiate a contract with UnitedHealthcare that ensures access to the high-quality healthcare services that Wellstar provides. Read More>> Prime Healthcare Hospitals cut ties with UnitedHealthcare, citing low reimbursement Prime Healthcare’s New Jersey hospitals are terminating their contracts with UnitedHealthcare, citing significant underpayment compared to the rates of neighboring facilities and lower reimbursement rates than those offered by Medicaid. All patients can continue to use Prime’s emergency services at its New Jersey hospitals, regardless of insurance. Read More>>Mergers and Acquisitions Steward Health Care sells five Utah hospitals to Medical City’s parent company HCA Healthcare has not disclosed the deal’s financial terms yet. The hospitals will become part of the HCAs Mountain division, which includes 11 facilities in Utah, Idaho, and Alaska. Steward, a physician-led network that operates facilities in several states and internationally, said the sale would allow the company to further develop its operations model in other markets, particularly Texas and Florida. Read More>> Amedisys to acquire Home Health Regulatory Assets to establish home healthcare centers Under the terms of the agreement, Amedisys will acquire the right to expand certified home health care services in Mecklenburg County and Wake County, N.C., and surrounding counties. The service area provides access to more than 350,000 Medicare enrollees and more than 100,000 Medicare Advantage enrollees. Read More>>Partnerships Mary Free Bed and Spectrum Health team up for enhanced pediatric care Under the collaboration, Mary Free Bed, and Helen DeVos Children’s Hospital will run an acute pediatric inpatient rehabilitation unit at Mary Free Bed. This agreement builds upon the 2018 Forum for Collaboration between the two hospitals and allows for more collaboration in the future. Read More>> Tata AIA Life Insurance partners with Practo for online medical consultation As part of the alliance, consumers can avail themselves of online medical consultations from verified doctors anywhere, anytime. The partnership goes far beyond the traditional insurance approach that is limited to efficient claim settlement. As part of the benefits, an eligible consumer can avail of up to 48 teleconsultations per year for various medical conditions. Read More>>
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Key Insights and Signals in Medical Devices
New Centre setup and expansion Fujifilm Irvine Scientific completes construction of Netherlands production facility The 250,000-square-foot factory, located in Tilburg, will produce dry powder media, liquid media, and other raw materials for its plants in the U.S. and Japan. Once fully validated, the facility will power production capacity by more than 320,000 kilograms of dry powder and 470,000 liters of liquids. Read More>> Siemens Healthineers will invest USD 32 Mn into expanding its operations The company plans to expand its largest building at its Glasgow-area campus by 29,000 square feet, adding more capacity to manufacture up to 20 new in-vitro diagnostic assays as well as additional associated calibrator products. Siemens intends to tighten up its diagnostic supply chain while reducing the need to outsource parts of its manufacturing. Read More>>Deal and Deal Renewal Samsung Biologics sees more than ten times growth in the CMO deal with Roche Samsung Biologics’ contract manufacturing deal with Roche soared more than ten times from its original contract value, jumping from USD 35.3 Mn to USD 403.85 Mn. Samsung, which first entered into a long-term agreement with Roche back in 2013, inked a definitive deal with Roche for contract manufacturing in January. Read More>> GE Healthcare to acquire BK Medical, expanding into surgical visualization GE Healthcare plans to boost its ultrasound business by purchasing BK Medical for USD 1.45 Bn, in a cash deal guided by three law firms. GE Healthcare is buying the company from Altaris Capital Partners LLC, a New York investment firm focused on healthcare. Read More>>Partnerships GE Healthcare, SK Telecom to cooperate to establish digital healthcare GE Healthcare has entered into a strategic partnership with SK Telecom to build digital healthcare infrastructure in Korea. Through this partnership, the two companies will cooperate in exchanging and operating related technologies to realize digital healthcare solutions and the commercialization of services. Read More>> Butterfly Network and AVG collaborate to provide ultrasound to UrgentVet clinics Butterfly Network and American Veterinary Group (AVG) have teamed up to equip all UrgentVet clinics with a Butterfly iQ Vet, the first and only single probe, whole-body ultrasound system designed for all animals. The partnership with Butterfly Network was finalized after UrgentVet staff first used an iQ Vet in its clinics. Read More>>Mergers and Acquisition Fujifilm Medical Systems and Fujifilm Healthcare Americas Corp merge The new company will be operating under the name of Fujifilm Healthcare Americas Corporation. The new combined organization brings together the strengths of each company’s innovative product portfolios and employees to create new value for customers and advance medical care. Read More>> Boston Scientific acquires Devoro Medical for USD 320 Mn Boston Scientific has been a strategic investor in Devoro Medical since 2019 and currently holds an equity stake of approximately 16 percent. The transaction price consists of USD 320 Mn upfront and up to USD 80 Mn upon achieving certain clinical and regulatory milestones. The transaction is anticipated to close in the fourth quarter of 2021, subject to customary closing conditions. Read More>>Executive Movement Roche Diagnostics Korea named Kit Tang as new GM During his time as the GM of Roche Diagnostics Taiwan from 2018, he helped the company achieve double-digit growth in the 2019-2020 period. Tang also stressed that he would focus on nurturing talents, fulfilling the company’s social responsibilities, and establishing a balanced corporate culture. Tang is an expert in in-vitro diagnostics with over 20 years of experience in the diagnostic industry. Read More>> NuVasive names CCO and CTO NuVasive has appointed Massimo Calafiore to Chief Commercial Officer and Ryan Donahoe to Chief Technology Officer. Calafiore will oversee the product marketing, commercial, and commercial enablement functions. Donahoe will continue to lead spine research and development. Read More>>
Key Insights and Signals in Pharmaceutical
New Centre setup and expansion Pharma manufacturer Cambrex plans High Point expansion The company will create 78 new jobs in High Point as part of a USD 30 Mn manufacturing expansion. The company focuses on the small molecule sector that provides drug substance, drug product, and analytical services across the entire drug lifecycle. The expansion will affect its small-batch manufacturing capacity with additional production and laboratory space. Read More>> ANSTO to build a new facility to produce nuclear medicine isotopes The Australian Nuclear Science and Technology Organisation (ANSTO) has launched a USD 22 Mn project to design a new nuclear medicine isotope manufacturing facility to replace its existing facility in Sydney. The ANSTO produces between 10,000 and 12,000 potential patient doses of nuclear medicine weekly and supports nearly 1,000 highly skilled jobs across the country. Read More>>Deals GSK and Merck break up a USD 4 Bn Oncology collaboration after multiple failures After two years and numerous trial failures, Merck KGaA and GlaxoSmithKline have terminated a nearly USD 4 Bn development agreement that centered on the experimental immunotherapy drug Bintrafusp alfa. The board recommended trial termination after a review determined the study was not likely to meet its primary endpoint of progression-free survival. Read More>> King’s College London and GSK collaborate on new AI-led Cancer research The new five-year partnership will use AI to derive insight into why and how some patients respond to specific cancer treatments. The collaboration will use AI systems to build tools that will support clinical decision-making to help improve patient outcomes. Read More>>Partnerships Japan’s Santen to help Singapore foster eye-care professionals The partnership with Singapore National Eye Centre is to jointly develop an enhanced educational program to address the shortage of trained eye-care professionals and support the growth of eye-care services in the city-state and the rest of Asia. Read More>> Otsuka partners with Sunovion, Sumitomo in a neurology drug pact The companies will work together to develop four experimental therapies for psychiatric conditions, potentially speeding the medicines’ progress through clinical testing. Under the deal, Sunovion will receive USD 270 Mn upfront, plus potential payments of USD 620 Mn upon reaching certain milestones. Read More>>Mergers and Acquisition Alexion announced plans to acquire the remaining equity stake in Caelum Biosciences Alexion had entered into a partnership with Caelum in 2019, where it acquired a minority equity stake and had an exclusive option to acquire the remaining equity in Caelum. Now, the company has exercised its option to acquire the remaining equity stake in Caelum up to USD 500 Mn. Read More>> Thermo Fisher Scientific acquired Combinati Incorporated, and its dPCR technology Digital PCR (dPCR) has quickly become the standard for nucleic acid quantification in oncology, cell and gene therapy development, and other research applications because its absolute quantification enables higher accuracy and precision. The acquisition aims to help customers to lead healthier, cleaner, and safer lives. Read More>>Executive Movement Novartis exec moves to EY to expand legal services EY has hired the head of legal and compliance solutions at Novartis with a brief to grow its managed legal services capabilities. Santosh Singh joins the Big Four accounting giant in the newly-created role of EY global legal managed services and brings more than 20 years of experience in strategy, service delivery, and change management across a range of industries. Read More>>
Latest Industry Insights from Draup Braindesk
Healthcare companies identified hybrid cloud as their preferred operating model, as it brings the efficiency of the healthcare workflow pipeline faster, more scalable, and more productive.
The main factor for accelerating hybrid cloud adoption in healthcare is the increased need for security and compliance.
A hybrid cloud makes it possible to improve the agility and scalability of enterprise applications and data by combining the benefits of a public cloud and on-premises infrastructure.
Moving to a hybrid cloud can help healthcare and life sciences companies accelerate digital transformation, enhance data security, and take a more holistic approach to patient health.
Key Funding Alert
Boston Scientific announces USD 40 Mn Medtech investment in Cork
Boston Scientific has announced a USD 40 Mn investment in its Cork facility to accelerate the development and manufacturing of minimally invasive medical technologies that treat patients suffering from cancer and peripheral arterial diseases. Read More>>
Company – Felmo Total Funding– USD 17.76 Mn About: With first-class service, Felmo offers modern veterinary medicine at home With the Felmo app, customers can keep track of all appointments and findings while utilizing quality care in the comfort of their homes. Read More>>
Latest Reports Published in Draup
Novartis Account Intelligence Report: Novartis primarily focuses on enhancing its healthcare product and services by incorporating them with Artificial Intelligence by producing high-end insights to provide patient care. The company improved its gene therapy systems to treat several life-threatening diseases like cancer and neurological genetic disorder. Read More>>
Cigna Account Intelligence Report: Cigna is focused on introducing a Health Management platform for women to enable nutrition and body measurement services to monitor and be aware of health. The company concentrates on using science-based analytics to reduce medical costs while improving clinical outcomes for customers. Read More>>
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