Finance

KeyBank aims to launch digital bank for doctors in March

"Think about a digital company that refinances student loans for doctors and dentists that are accredited, employed, have an average salary of about $200,000 per year," CEO Chris Gorman said. "These are great clients to get."

By Anna Hrushka • Jan. 25, 2021

Hims & Hers goes public in $1.6B SPAC deal

The digital health startup received proceeds of almost $280 million as a result of the deal, which it plans to reinvest in driving geographic growth and new product lines.

By Rebecca Pifer • Jan. 21, 2021

UnitedHealth returns to normal care levels in Q4, posts $15B in profit for 2020

The health behemoth beat Wall Street forecasts for both earnings and revenue in the fourth quarter as care consumption and prescriptions returned to more typical levels despite fears of renewed deferrals as COVID-19 cases surge.

By Rebecca Pifer • Jan. 20, 2021

Healthcare funding shatters records in 2020, helped by COVID-19

Global equity funding hit an all-time high last year at $80.6 billion as the coronavirus pandemic and ongoing trends opened new market opportunities for savvy investors, according to a CB Insights report.

By Rebecca Pifer • Jan. 20, 2021

Biden faces many healthcare challenges as he takes the helm at an unprecedented time

The former senator and vice president has been sworn in as the 46th president of the United States while the country grapples with one of the biggest health crises in its history.

Google calls Fitbit acquisition complete despite ongoing DOJ review

The search giant closed the deal because the department's 14-month investigation period expired without any objection. However, DOJ could still sue to unwind the buy.

By Rebecca Pifer • Jan. 14, 2021

Talkspace to go public via SPAC in $1.4B deal

The transaction, once completed, will leave the behavioral health startup with about $250 million in cash, which it plans to use to build its user base, add partnerships and expand internationally.

By Rebecca Pifer • Jan. 14, 2021

Ascension divests handful of Wisconsin hospitals, clinics to nonprofit Aspirus Health

Completion of the transaction will almost double Wausau, Wisconsin-based Aspirus' footprint. Currently, the regional player has four hospitals in Michigan and six in Wisconsin, along with more than 50 clinics.

By Rebecca Pifer • Jan. 13, 2021

Teladoc projects 2020 revenue doubling to $1.1B

CEO Jason Gorevic expects sustainable long-term growth for the company, with 30% to 40% average annual revenue growth expected through 2023, he said Monday at the J.P. Morgan health conference.

By Rebecca Pifer • Jan. 12, 2021

Healthcare CFOs see fresh wave of M&A in 2021, BDO survey shows

Financial distress, a desire to expand into new service lines and efforts to close infrastructure gaps are expected to fuel deals, according to the consultants.

By Susan Kelly • Jan. 12, 2021

CommonSpirit inks letter of intent to sell Essentia 14 mostly rural hospitals

The giant nonprofit system is in talks with the Minnesota-based system to unload a 286-bed hospital in North Dakota and 13 other critical access facilities.

By Ron Shinkman • Jan. 11, 2021

Wall Street paints rosy 2021 for medtech as electives snap back

After economic challenges throughout 2020, sell-side analysts predict procedure-dependent companies like Medtronic, Abbott and Zimmer Biomet to outperform this year as procedure volumes return.

By Ricky Zipp • Jan. 11, 2021

Medicaid expansion could help hospitals financially recover from pandemic, Health Affairs study suggests

Hospitals in states that expanded the safety net program under the Affordable Care Act on average saw lower uncompensated care costs and higher Medicaid revenue compared with those in states that have not, researchers found.

By Hailey Mensik • Jan. 05, 2021

CMS should tweak wage index adjustment to help rural hospitals, OIG says

The report, issued following a federal audit, found rural hospitals had the highest concentration of low-wage providers. Of all hospitals in the bottom quartile of area wage indexes, 53% were operating in rural areas.

By Rebecca Pifer • Jan. 04, 2021

Hospitals lose another attempt to stave off price transparency

A judge wrote that the American Hospital Association's arguments, including that some rates are unknowable, "miss the mark." Facilities are now required to disclose negotiated rates with insurers.

By Samantha Liss • Dec. 29, 2020

Hospital finances bleak as 2020 nears close, Kaufman Hall says

Even as big systems like HCA and Mayo Clinic return some federal funds, across the sector inpatient admissions were the only metric to rise, passing 2019 levels for the first time since the pandemic began.

By Hailey Mensik • Dec. 23, 2020

Oscar quietly readies for IPO

The startup insurer, co-founded by Josh Kushner, said the price range and size has yet to be decided. It's one of a spate of health-focused companies making the move in recent months.

By Samantha Liss • Dec. 22, 2020

After decades as a hospital operator, Tenet shifts its focus to surgery centers

The for-profit chain's ambulatory surgery centers far outnumber its hospital portfolio, and its ambulatory earnings will account for nearly half of the company's overall earnings next year.

By Samantha Liss • Dec. 22, 2020

Safety net hospitals hit particularly hard by COVID-19, will have to cut future spending

During the peak of the first surge of cases in the spring, patient discharges fell up to 36% at five facilities studied, while revenues dropped as much as 48%, according to the Robert Wood Johnson Foundation and the Urban Institute.

By Ron Shinkman • Dec. 21, 2020

Provider-friendly surprise billing fix, more funds for hospitals in year-end spending bill

The final fix included in the legislation is almost exactly the same as the initial proposal greenlit last week by key congressional leaders, but includes additional concessions for providers.

By Rebecca Pifer • Dec. 21, 2020

Hospital costs drove 2019 health spending, CMS analysis finds

Researchers warned next year's report is expected to look quite different, as the pandemic "will certainly have profound consequences on the provision and consumption of health care in 2020 and perhaps beyond."

By Hailey Mensik • Dec. 17, 2020

HHS starts doling out $25B in third phase of CARES provider funding

The amount exceeds the original $20 billion planned for this tranche, as officials realized more would be needed to get providers close to whole from coronavirus-related losses.

By Shannon Muchmore • Dec. 16, 2020

Even with vaccine, Moody's 2021 nonprofit hospital outlook is negative

The ratings agency estimates operating cash flows will drop 10% to 15% next year, versus a prior forecast. It's a more bearish view than its take on the for-profit slice of the sector.

By Ron Shinkman • Dec. 14, 2020

Dive Awards

Finance Trend of the Year: Going public

"The wacky aspect of 2020 is we've had tons of uncertainty and we've had a really active IPO market. And I've never seen that in my 30-year career on Wall Street," Davide Ethridge, U.S. IPO services leader at PwC, said.

By Shannon Muchmore • Dec. 09, 2020

Sanford calls off Intermountain merger after CEO mask uproar

The proposed union of regional giants fell apart after Sanford's longtime chief left the company following an email to staff alleging he did not need personal protective equipment because he had immunity to COVID-19.

By Hailey Mensik • Dec. 07, 2020