Vera Whole Health Acquires Castlight Health; Plus, Covid Job Growth

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Are we in a healthtech bubble? As SoftBank and Tiger International proceed to stoke stratospheric valuations, allow us to contemplate the destiny of Castlight Well being as a warning of what occurs when an organization IPOs at 107 occasions its $13 million income. On its first day of buying and selling in 2014,  the healthcare navigation platform reached almost $40 a share and a market cap of $1.4 billion solely to in a short time crash and burn, reaching a low of $0.65 in 2020 because it struggled to scale. At this time main care firm Vera Complete Well being introduced it might take Castlight non-public in a deal valuing the corporate at $370 million, which is round 2.6 occasions its anticipated 2021 income of $140 million. 

So who’s the large winner right here? Ryan Russell and Kevin O’Leary, the duo behind Health Tech Nerds, say it’s Clayton, Dubilier & Rice, Vera’s majority fairness shareholder. “In a market the place employers are having a tough time distinguishing varied digital well being options and each vendor is competing to be the employer’s trusted accomplice, combining Vera and Castlight creates a broader resolution to promote to employers,” say Russell and O’Leary. “It’s not laborious to think about CDR rolling-up further belongings into this entity on the proper worth” with the potential for finally making an attempt to grow to be a well being plan for employers, they add. Different traders embrace Anthem and Morgan Well being, J.P. Morgan Chase & Co’s second try to rein in healthcare prices after Haven imploded. 

This Startup Raised $45 Million To Construct A Neighborhood Well being Employee Brigade For Medicaid

With Waymark, cofounders Rajaie Batniji and Sanjay Basu are banking {that a} mixture of software program and community-based care may also help revolutionize the $600 billion Medicaid market and enhance sufferers’ well being. Key to this imaginative and prescient is coaching and hiring neighborhood well being employees, a vital but largely uncompensated liaison connecting folks to well being companies, particularly in underserved neighborhoods. There are dozens of research which have proven how sure interventions – peer help applications, texting to extend engagement, prenatal house visits, on-line specialty consultations, telepsychiatry visits – may also help enhance well being outcomes amongst Medicaid sufferers, however there stays a serious hole translating grant-funded analysis into apply resulting from time, cash and an business broad obsession with pilots. Learn extra right here.

Noteworthy

HCA Healthcare’s buy of MD Now Pressing Care’s community of outpatient facilities intensifies the new marketplace for doctor-staffed main care.

The “No Surprises” Act took impact on January 1. Right here’s what it means on your medical payments. 

Medicines Firm CEO Clive Meanwell hoped the corporate’s drug may deal with ldl cholesterol for the plenty with a low price ticket. Then the corporate was acquired by Novartis. 

Right here’s how Subsequent Billion Greenback Startup Viz.Ai helps hospitals deal with stroke sufferers earlier. 

Coronavirus Updates

Today, payroll processor ADP mentioned that U.S. employers posted the strongest job progress seen in seven months. That’s encouraging information for an economic system that’s been hammered by the Covid-19 pandemic for almost two years now. Employment elevated by 807,000 jobs from November to December, a big enhance over November’s 505,000 new jobs. However specialists are cautioning in opposition to an excessive amount of optimism. These job numbers symbolize a interval that ended a couple of week earlier than the newest surge in instances brought on by the omicron variant. 

That surge, Moody’s Analytics Mark Zandi mentioned in a analysis be aware printed over the weekend, will doubtless trigger elevated financial dangers. He cited decreased restaurant bookings and widespread flight cancellations as a trigger for concern. “The pandemic continues to name the pictures for the economic system,” Zandi says. 

Document Quantity Of Youngsters Hospitalized With Covid-19 In U.S.

A report common of 672 kids per day had been admitted to hospitals with Covid-19 in the US within the week ending Sunday, up 114% from the earlier week, based on the U.S. Facilities for Illness Management and Prevention. Circumstances throughout all age teams are hovering as a result of unfold of the extra infectious omicron coronavirus variant. Learn extra right here.

Different Coronavirus Information

Utah-based startup Entrata, valued in 2021 at greater than $1 billion, has abruptly lower ties with its cofounder and former CEO Dave Bateman after he despatched an electronic mail to a number of tech CEOs and public officers by which he shared an anti-Semitic conspiracy principle about Covid vaccines.

With each the flu and Covid-19 circulating at excessive charges proper now, it’s inevitable that some folks will get each ailments directly. 

The federal authorities doesn’t intend to vary its definition of “absolutely vaccinated” to incorporate booster pictures, well being officers mentioned Wednesday, although some faculties and companies are requiring the extra pictures anyway.

Norwegian Cruise Line canceled sailings on eight cruise ships, together with journeys as late as April, because the fast unfold of the omicron coronavirus variant brings a slew of outbreaks and new troubles for cruise journey.

The World Well being Group urged the general public to not fear prematurely in regards to the IHU variant, also referred to as B.1.640.2, a extremely mutated pressure of the coronavirus first recognized in France.

Unvaccinated Individuals’ concern in regards to the new omicron variant plunged on the finish of December regardless of rising Covid-19 instances and hospitalizations that go away them most in danger, based on a Morning Seek the advice of ballot. 

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What Else We’re Studying

Robert Califf is a fervent believer in data. At the FDA, will that be enough? (Stat)

Elizabeth Holmes verdict: researchers share lessons learned for science (Nature)

Omicron cases are exploding. Scientists still don’t know how bad the wave will be (Science)