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Morning Read: Evolent Health acquires majority stake in Valence Health in $145M deal, Merck sheds 360 jobs

Also, Biotech industry veteran Steve Holtzman, has become CEO of Decibel Therapeutics and the U.S. Department of Health and Human Services Office for Civil Rights offers guidance for hospitals on ransomware attacks.

Evolent Health IPOTOP STORIES

Merck has cut 360 jobs as part of a company-wide reorganization of its research and development teams involved in drug discovery and pre-clinical work. — STAT

Evolent Health, which went public last year, has acquired a majority stake in Valence Health in a $145 million deal. Earlier this year Valence cut 75 jobs and its president of population health, Nathan Gunn, left in March. But the business also secured a lucrative contract with Cook County Health and Hospitals System to support the network’s CountyCare Medicaid program. — PR Newswire, Reuters, Crain’s Chicago Business

LIFE SCIENCES

Biotech industry veteran Steve Holtzman, who retired from Biogen earlier this year, has taken on the CEO role at Decibel Therapeutics, a startup seeking to treatment for hearing loss, a condition close to home for Holtzman. — Boston Business Journal

PAYERS-PROVIDERS

Medical University of South Carolina in Charleston is launching a telehealth service to provide care to four prisons in South Carolina. — Becker’s Hospital Review

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TECHNOLOGY

McKesson Health Solutions has acquired HealthQX for it value-based payments tech, particularly to support bundled payment models. — Healthcare IT News

POLITICS

Guidance from the U.S. Department of Health and Human Services Office for Civil Rights offers some suggestions for hospitals on how to avoid ramsomeware attacks but it also clarifies that both malware and ransomware amount to a security incident under HIPAA. Healthcare IT News, HHS Fact Sheet

A LITTLE BIT EXTRA

The augmented reality game Pokemon Go is prompting a mass appeal from a variety of business to steer gamers away from searching for Pokemon characters on their property, including Covenant HealthCare in Michigan. — Becker’s Hospital Review

Photo: Evolent Health

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