Private Equity Firms Blackstone, TPG To Buy Hologic For $13 Billion
Hologic — which makes mammography systems, breast imaging technology, and biopsy equipment — will go private in the deal. Other health industry news is on home infusion, death rates at U.S. dialysis centers, the shuttering of obstetric services at an Ohio hospital, and more.
Private equity firms Blackstone and TPG will spend more than $13 billion to buy women’s health specialist Hologic. The companies said Tuesday they will pay up to $79 for each Hologic share in a deal that takes the company private. (10/21)
Health systems are rethinking how to deliver infusion therapies, as payers and patients increasingly prefer care at home over clinical settings. The changing dynamics have led some health systems to expand existing home infusion businesses, while others are partnering with vendors to deliver some or all infused drugs to patients where they live. The shift is sparking consolidation of the highly fragmented home infusion industry as private equity-backed companies expand into the space and compete for patients. (Eastabrook, 10/21)
More health industry developments —
Death rates for U.S. kidney dialysis patients are among the highest in the industrialized world. A CBS News Data Team investigation has found that one-third of the nation's dialysis clinics have failed to meet federal performance standards. In Texas, where the number of dialysis centers is higher than in any other state, the I-Team discovered that the problem is especially severe. (Allen, 10/21)
One of the Dayton, Ohio, area’s largest hospitals will soon no longer offer obstetric services. OB services at Soin Medical Center will transition to Kettering Main Campus and Kettering Health Washington Township, Kettering Health confirmed in a statement. The hospital network cited declining birth rates in the area and across the country as a factor in the decision. (10/20)
A packed crowd of community leaders gathered Tuesday to celebrate the ribbon-cutting of Maimonides Health's newly expanded pediatric emergency department. Hospital leaders said the state-of-the-art space is four times bigger than the previous facility, reflecting the growing need for specialized pediatric care. "There are 600,000 children in this borough and only one children's hospital -- let that sink in for a minute," said Dr. Jeffrey R. Avner, chairman of pediatrics at Maimonides Health. (Kliger, 10/21)
DocGo, a mobile healthcare provider and medical transportation service, acquired Monday virtual care company SteadyMD. DocGo paid $12.5 million at the close of the transaction and will pay up to $12.5 million more if specific performance conditions are met, according to a Securities and Exchange Commission filing. (DeSilva, 10/21)
UnitedHealth Group Inc. is testing a new system to streamline how medical claims are processed, an early example of what the company says is the potential for artificial intelligence to smooth out friction in billing. The system, dubbed Optum Real, aims to distill health plans’ complex rules around what is covered into information that doctors and billing staff can use in real time to tell whether a claim is likely to be paid. (Tozzi, 10/21)
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Katheryn Houghton reads the week’s news: Most states allow medical providers to force employers to send them part of a patient’s paycheck to cover unpaid medical bills, and the Trump administration’s cuts to federal funding are making flood-prone hospitals more vulnerable. (10/21)
On health care personnel —
Unionized nurses at St. Joseph Medical Center in Joliet never received a promised pandemic-era bonus, the Illinois Nurses Association alleges in a lawsuit filed in federal court Monday. The petition seeks to compel the hospital, its owner Prime Healthcare and former owner Ascension to go to arbitration over the matter. (Schencker, 10/21)
Medical assistants — who take measurements, draw blood and fill out documentation before a patient sees a doctor — are in high demand nationally and short supply locally. To remedy its shortage, Luminis Health, the company that runs the Anne Arundel Medical Center in Annapolis, is offering free training to employees from other areas of the business, like reception. (Rothstein, 10/22)
If you're a patient of Mass General Brigham, AI may help connect you to a new physician. With two-year waitlists for a primary care provider, the organization is using AI to bridge the gap. (Hall, 10/21)
