Health systems preparing for an M&A, or even those not immediately considering one, must prioritize a robust workforce data strategy. This approach is essential for navigating today’s increasingly frequent healthcare consolidations.
Medical device giant Boston Scientific added to its string of recent acquisitions by announcing its plan to buy Axonics, a maker of neurostimulation devices that treat urinary and bowel dysfunction, for $3.7 billion. Experts agree that this deal will make a profitable impact on Boston Scientific’s urology business.
Patient expectations continue to evolve, and healthcare practices that fail to adapt risk more than just revenue—they risk losing trust.
On New Year’s Day, two Missouri health systems — St. Louis-based BJC HealthCare and Kansas City-based St. Luke’s Health System — officially completed their merger. The combined health system comprises 28 hospitals and hundreds of clinics serving 6 million people, and it is expected to generate $10 billion in annual revenue.
Health systems have made dozens of M&A deals this year, as many are seeking out partnerships to grow and protect their long-term financial sustainability. Here is a rundown of five newsworthy deals announced in 2023.
Hospital M&A activity has been returning to pre-pandemic levels this year, according to a new report. There were 18 M&A transactions in Q3, compared to seven in Q3 2021 and 10 in Q3 of last year. The reason why M&A activity is regaining its momentum is because hospitals are seeking partnerships to grow and protect their long-term financial sustainability — the report found financial distress was the driving factor behind nearly 40% of deals announced during Q3.
This week, Abbott announced its plans to acquire Bigfoot Biomedical — a startup selling a “smart” insulin pen cap, which collects data from a user’s CGM to help them calculate the right dose. Most analysts were unsurprised to hear of the acquisition given that the two companies have been collaborating for more than six years, but they said the deal reinforces the steady pace of digital innovation in the diabetes care space.
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Medtech funding reached its low point in the first quarter but will slowly pick back up over the rest of 2023, according to a new Pitchbook report. It noted that this year’s medtech funding total will not come close to the $19.7 billion the sector raised in 2021, and it might even come in below last year’s funding total of $13.5 billion.
The healthcare AI space will be an exciting one to watch over the next couple years, as investment dollars flow to startups and providers launch more AI pilots. Two of the most interesting trends to watch will be the use cases that healthcare organizations prioritize when deploying generative AI models, as well as M&A activity within the healthcare AI field, a CB Insights analyst declared during a recent webinar.
Global funding for digital health companies finally stabilized in Q1 of this year. The sector raised $3.4 billion — this marks the first time the digital health world didn’t experience a quarter-over-quarter funding decline since Q4 of 2021. By holding steady, digital health startups defied the dwindling fundraising totals seen across the broader venture capital landscape, where funding dropped by 13% quarter-over-quarter.
M&A activity among health systems picked up last year — key trends included cross-market mega-mergers and academic medical centers expanding their community hospital networks. Despite tough economic conditions, Kaufman Hall experts expect this activity to continue growing in 2023.
Balancing healthcare benefits and insurance costs requires research. From becoming a Difference Card member to offering wellness resources, there are many ways to improve healthcare at low cost.
Affiliates of Bain Capital and Hellman & Friedman struck a deal to buy the health IT company from its current private equity owners, Veritas Capital and an affiliate of activist investor Elliott Management. The two took the company private through a takeover bid in 2019.
Oak Street Health plans to integrate virtual specialty care into its primary care centers for Medicare patients. It struck a deal to acquire RubiconMD for $130 million in cash, with another $60 million in milestone payments.
The Delaware Supreme Court ruled on Monday that Cigna can’t seek a $1.85 billion breakup fee after its failed merger with Anthem, upholding a judge’s decision last year.
Nearly a dozen companies were identified in a report as potentially attractive for buyouts by larger firms. Japanese companies could be big players.
BPCI Advanced, the next generation of the original Bundled Payments for Care Improvement (BPCI), announced earlier this month. marks the further progression of the value-based care movement and is one of three major changes this year.