Cano Health filed for bankruptcy this week — about three years after going public $4.4 billion SPAC merger. The industry reacted without surprise, with experts calling the bankruptcy a direct result of mismanagement, a quixotic growth strategy and poor market selection.
Rite Aid filed for Chapter 11 bankruptcy protection on Sunday amid decreasing sales, billions of dollars in debt and more than a thousand lawsuits claiming the chain filled illegal prescriptions for opioids. In order for the company to get back on its feet, experts say it will have to start acting more like its competitors, such as Walgreens and CVS, by leaning more into care delivery, forging strong payer partnerships, and improving its digital offerings.
Munck Wilson Mandala Partner Greg Howison shared his perspective on some of the legal ramifications around AI, IP, connected devices and the data they generate, in response to emailed questions.
U.K. doctor David Watkins has been a public critic of Babylon Health and its AI technology for years, during which has received anonymous emails from Babylon employees who shared his concerns but feared to speak out publicly. After Babylon collapsed, a former employee publicly declared that the AI engine was indeed faulty. As a longtime skeptic of Babylon's claims surrounding its technology, Watkins said that Ali Parsa, the company's CEO, shouldn’t be treated any differently to Elizabeth Holmes.
Pear Therapeutics’ Chapter 11 bankruptcy filing follows three corporate restructurings and the inability to secure additional financing to support commercialization of its FDA-cleared prescription digital therapeutics. An auction of Pear’s assets is expected to happen in early May.
Lucira Health now has the first FDA authorized diagnostic that detects the novel coronavirus and influenza in a single test. But the regulatory decision comes too late for the diagnostics developer, which has filed for bankruptcy protection.
The Washington-based health system has filed a lawsuit against EHR giant Cerner saying it intentionally misrepresented its products and services. Cerner's systems did not operate as promised, leading to severe cash collection issues at Astria Health and forcing it into bankruptcy in 2019, the suit alleges.
At the Abarca Forward conference earlier this year, George Van Antwerp, managing director at Deloitte, discussed how social determinants of health and a personalized member experience can improve medication adherence and health outcomes.
In addition to monetary damages and the guilty pleas, the government is seeking to transform the maker of OxyContin into a public benefit company that would fund efforts to curb opioid abuse and give away drugs to prevent overdose deaths.
A bankruptcy court in Delaware approved a stalking-horse bid from Otsuka to acquire Proteus Digital Health for $15 million. The company, which makes sensor that can be embedded in pills to track medication adherence, filed for bankruptcy in June.
The company filed for Chapter 11 Monday, but the move was criticized by some, particularly attorneys general in Massachusetts and Connecticut, amid reports that the Sackler family wired about $1 billion to overseas accounts.
The Philadelphia company, which enabled organizations to create secure digital health applications, had raised capital from Safeguard Scientifics, Dreamit Ventures, Robin Hood Ventures and Ben Franklin Technology Partners and had customers like Thomas Jefferson University Hospitals and the American Heart Association.
We will highlight Build My Health's revenue practice management tools, which could help physician practices add up to $250,000 to their practices.
While some doctor-owned labs have dodged collection efforts for years, several testing firms deeply in debt to Medicare appear to have few assets to repay overcharges dating back years, court records show.
Sotera's ViSi Mobile system was designed to wirelessly transmit vitals data to clinicians with the goal of improving patient safety.
With two competing bids received before Wednesday's deadline. the U.S. Bankruptcy Court in Columbus, Ohio, will hold an auction Monday.
The bankruptcy trustee is now accepting offers for HealthSpot's assets, including 191 telemedicine kiosks, most of which have never been used.
HealthSpot listed assets of $5.2 million and liabilities of $23.3 million, and only generated $1.1 million in revenues over three years.