Why WeightWatchers Filed for Bankruptcy
WeightWatchers recently filed for bankruptcy. Part of the reason is because it couldn't adapt fast enough to a rapidly changing weight-loss environment spurred by the rising popularity of GLP-1s, experts said.
Anne Wojcicki Had a Fully Financed Plan to Take 23andMe Private. Then It Fell Apart.
A month before 23andMe’s bankruptcy filing, CEO Anne Wojcicki had a fully financed proposal to take the genetic testing company private. The financing fell apart, and a series of alternative proposals by Wojcicki did not result in a deal.
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RCM Outsourcing: Balancing Human Expertise & Smart Technology
Greenway Health blends smart technology with human expertise to elevate revenue cycle.
Why Experts Saw Cano Health’s Bankruptcy Coming From A Mile Away
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.
What Will Rite Aid Need to Do to Recover from Bankruptcy?
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.
Babylon Health’s CEO ‘Should Spend Some Time With Elizabeth Holmes’
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 Files for Bankruptcy and Plans for Asset Auction in May
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.
As Healthcare and Biopharma Companies Embrace AI, Insurance Underwriters See Risks and Opportunities
In an interview, Munich Re Specialty Senior Vice President Jim Craig talked about the risk that accompanies innovation and the important role that insurers play.
FDA Authorizes First Covid-19 and Flu Test, But Its Maker Files for Bankruptcy
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.
Lawsuit: Cerner systems’ failure drove Astria Health into bankruptcy
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.
Purdue to plead guilty, pay $8.3B deal to resolve opioid charges
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.
Court approves Otsuka’s bid to buy Proteus for $15M
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.
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Attorneys general balk at Purdue Pharma bankruptcy filing
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.
Health IT startup CloudMine files for Chapter 7 bankruptcy
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.
Genetic testing firms filing for bankruptcy deprive CMS of hundreds of millions
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 Wireless files for Chapter 11 bankruptcy protection
Sotera's ViSi Mobile system was designed to wirelessly transmit vitals data to clinicians with the goal of improving patient safety.
Bidding war develops for assets and IP of bankrupt HealthSpot
With two competing bids received before Wednesday's deadline. the U.S. Bankruptcy Court in Columbus, Ohio, will hold an auction Monday.