AMA files lawsuit to block Title X rule restricting abortion clinic funding

AMA | March 05, 2019

Saying it imposes restrictions on the patient-physician relationship, the American Medical Association (AMA) filed a lawsuit Tuesday to block the Trump administration rule that would restrict abortion clinic funding. The country’s largest physician organization filed the lawsuit (PDF) in the United States District Court in Oregon, asking the court to block the new rule released Friday that revises regulations around the Title X family planning program to block funding to groups that provide abortion referrals. The rule would decimate the Title X program and limit the medical advice physicians can give their Title X patients, the AMA said in an announcement. The Oregon Medical Association and Planned Parenthood Federation of America joined the lawsuit.

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FUTURE OF HEALTHCARE

Omega Healthcare completes acquisition of ApexonHealth and Vasta Global

Omega Healthcare | April 18, 2022

Omega Healthcare, a leading technology-enabled healthcare management solutions provider,announced its acquisition of ApexonHealth, an AI and automation-based revenue cycle management and payor solutions provider, and Vasta Global, a provider of real-world data abstraction and analytics for the oncology market. ApexonHealth leverages its digital solutions to deliver comprehensive technology-enabled services for both providers and payors from revenue cycle management and coding to claims management and advanced analytics. ApexonHealth's cognitive and automation capabilities have significantly reduced manual effort and increased accuracy in claims adjudication strengthening its payor services. ApexonHealth's expertise in the healthcare payor sector will augment Omega's existing payor-focused offerings. Vasta Global provides clinical data management with a focus on the oncology market and provides real-world evidence data curation and analytics, clinical trial support, and cancer registry services for cancer centers. Vasta Global's customers span the entire healthcare ecosystem including providers, pharmaceutical and biotechnology companies, and contract research organizations that provide clinical trial management services. The two acquisitions will complement Omega Healthcare's existing strengths in revenue cycle management and clinical data management for various medical registries including cancer, stroke, and trauma. These acquisitions are part of the strategy to accelerate Omega's journey in scaling its portfolio of AI- and data-analytics- based solutions to help healthcare clients optimize revenue while reducing cost through leveraging of big data and automation technology. With the recently completed acquisition of Reventics, Omega Healthcare will deliver an end-to-end revenue cycle management suite of solutions to healthcare providers, from analytics-driven clinical documentation improvement to platforms for payment data management. The Company will also expand its oncology-focused offering to now include big data capture and reporting to help healthcare providers and pharmaceutical companies leverage complex, longitudinal data to improve cancer treatment. "We are pleased to welcome ApexonHealth and Vasta Global to the Omega family. We've been very impressed by the vision and execution by the two management teams. Bringing together the Omega, ApexonHealth, and Vasta offerings together will unlock significant value to our clients." Anurag Mehta, CEO of Omega Healthcare "I am thrilled about this opportunity to join the Omega platform. Our mission to provide sustainable and scalable solutions to our clients is one that is shared by the Omega Healthcare team. With their broad capabilities, we are excited to offer our clients access to data curation, registry management, and machine learning solutions. Through this alliance, we reinforce our commitment to scientific discovery for patients through accelerated clinical research and real-world data," said Kinjal Vora, CEO of Vasta Global. "We are pleased to welcome ApexonHealth and Vasta Global to the Omega family," commented Harsh Nanda, Managing Director and Head of Technology Private Equity within Goldman Sachs Asset Management. "With the acquisitions of Reventics, ApexonHealth, and Vasta Global, Omega now services more than 350 customers spanning the entire healthcare continuum with the support of robust technology-led solutions and insights. Together, we can help our clients enhance the patient experience while improving operational efficiency and strengthen our position as the partner of choice for the healthcare ecosystem." About Omega Healthcare Founded in 2003, Omega Healthcare helps payors, providers, and pharmaceutical companies eliminate administrative burdens, accelerate cash flow, and reduce health management costs while enhancing patient care. The company streamlines medical billing, coding, and collections processes and provides virtual nursing services, including triage, care continuation, clinical documentation improvement, and re-admittance avoidance. Combining the largest medical coding staff in the world with proprietary technology, analytics, and automation capabilities, Omega Healthcare provides the most comprehensive outsourced solutions in the industry and is ranked among the top revenue cycle management business process services by industry analysts. About ApexonHealth Founded in 1996, ApexonHealth provides healthcare-focused digital solutions that combine the best of cutting-edge technology around machine learning, workflow automation, and business process automation to deliver comprehensive services for both providers and payors from revenue cycle management and coding to claims management and advanced analytics. Having helped 80+ healthcare organizations in 14+ years transform their RCM systems, ApexonHealth is actively involved and supports various healthcare bodies like the American Health Information Management Association (AHIMA), American Academy of Professional Coders (AAPC), and more. About Vasta Global Vasta Global offers solutions for data management, clinical research, bioinformatics consulting, and business process outsourcing. With over a decade of experience in cancer research and medical information management, Vasta Global is committed to providing sustainable and scalable solutions for clinical research and bioinformatics needs. The company's information technology and data management solutions streamline and integrate research and patient care workflows while collecting quality data, achieving research goals, and shaping the clinical practice guidelines of tomorrow. About Goldman Sachs Asset Management Bringing together traditional and alternative investments, Goldman Sachs Asset Management provides clients around the world with a dedicated partnership and focus on long-term performance. As the primary investing area within Goldman Sachs, we deliver investment and advisory services for the world's leading institutions, financial advisors and individuals, drawing from our deeply connected global network and tailored expert insights, across every region and market—overseeing more than $2 trillion in assets under supervision worldwide as of December 31, 2021. Driven by a passion for our clients' performance, we seek to build long-term relationships based on conviction, sustainable outcomes, and shared success over time. About Everstone Capital Partners Everstone is a premier investment group focused on cross-border North America – Asia investments and domestic investments in India and Southeast Asia, with assets of ~US$7 billion across private equity, real estate, credit, climate change and green infrastructure, and venture capital. Everstone has a significant resource base across its seven offices in Singapore, India, New York, Mauritius and UAE, comprising best-of-breed investing, operations and strategic resources with extensive skills and experience.

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FUTURE OF HEALTHCARE

House Rx Secures $30 Million in Financing to Improve the Specialty Pharmacy Experience for Patients and Their Care Teams

House Rx | March 15, 2022

House Rx, a health technology platform focused on improving affordability and patient access to specialty medications, announced it has secured $25 million in Series A financing led by Bessemer Venture Partners, bringing total funding to $30 million. House Rx's technology platform and pharmacy service enable specialty practices to offer medically-integrated dispensing, which means patients can receive both their physician and pharmacy care from one team, collaborating on a unified technology platform. Since it launched in March 2021, House Rx has partnered with four medical specialty practices and 30 prescribers in California and Washington. "We have a simple idea: partner with specialty clinics all over the country to enable medically integrated dispensing where the physician, pharmacist, nurses and techs can work together as one team, under one proverbial roof, to improve patient care. Our vision for the future of specialty pharmacy is a more local, more collaborative, and ultimately a more affordable system that leads to much better outcomes for patients." Ogi Kavazovic, CEO and a co-founder Specialty medications, which include treatments for cancers, rheumatic diseases and other chronic and acute conditions, are some of the most expensive drugs available. Unlike infused therapies which are administered in the clinics, the burden of specialty medication access and adherence often falls on patients, who typically need to battle several large bureaucracies to gain access to their medications. These often lead to multi-week delays in treatment and much lower adherence rates compared to medications administered in clinics. Currently, specialty medications are mainly dispensed via mail by a patient's insurance company, not their doctor or a pharmacy a patient chooses. A growing body of research demonstrates that when patients obtain timely access to cancer treatments directly from their care team, they have better outcomes, including improved quality of life and increased survivability. House Rx currently has over 30 employees, who are mostly software engineers and pharmacy operations. In addition to Bessemer Venture Partners, First Round Capital, Character.vc, and 1984.vc participated in the Series A funding. First Round Capital led the seed round as the initial investor alongside Khosla Ventures, Maverick Ventures, and 1984.vc. The funding from this latest round will go towards continued investments in House Rx's technology platform and scaling pharmacy operations. "The specialty pharmacy market is in much need of a new approach - the current system severely lacks in patient choice and innovation, and we think House Rx's vision for a more modern, more decentralized approach will have incredible impact," said Steve Kraus, Partner, Bessemer Venture Partners. "Bessemer is proud to back a company with a mission to ultimately make it easier and more cost effective for patients to get the treatment they need." In addition to Kavazovic, the health technology start-up was co-founded by Tesh Khullar, who serves as the company's President. Kavazovic and Khullar are former Flatiron Health executives, where they gained experience working closely with hundreds of oncology clinics. The company's Chief Pharmacy & Operating Officer is Denali Cahoon, PharmD, who is a former executive at Trellis Rx. "The antiquated pharmacy systems developed decades ago inhibit coordinated patient care and increase costs. The current system also prevents patients from choosing where they can get their medically prescribed life-sustaining therapies," said Tesh Khullar, President and a co-founder. "We started House Rx to make the medically integrated dispensing model the new normal in specialty pharmacy. With the right technology, and the right distribution partners, we can re-establish the partnership between physicians and pharmacists that brings a new level of transparency and patient care." House Rx's technology platform helps prescribers and pharmacists collaborate more effectively via one integrated system. Built based on in-depth feedback from pharmacists and physicians, the platform is designed specifically for the management of specialty medication, and includes built-in analytics to enable continuous improvement in operational efficiency and quality of care. The specialty medical practices that have already partnered with House Rx include Care Oncology Center, California; Sarcoma Oncology, California; Arthritis Northwest Washington; and Northwest Medical Specialties, Washington. About House Rx House Rx is a technology-enabled service company focused on making specialty medication more accessible and affordable. We do so by helping clinics dispense specialty medications to their patients in a medically-integrated way using pharmacist expertise and modern technology. By helping physicians and pharmacists collaborate on patient care, we're able to improve patient outcomes, lower the cost of care, and create a better experience for patients and their caregivers.

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FUTURE OF HEALTHCARE

M1 MedTech Accelerator Program Opens Applications to Early-Stage Medical Device Companies

M1 MedTech | April 05, 2022

M1 MedTech, a medical technology accelerator sponsored by Proxima Clinical Research, a contract research organization based out of the Texas Medical Center, announcedit is accepting applications for its fall cohort. M1 MedTech is looking for five to seven of the most promising early-stage medical device companies to participate in its three-month program. The program has closed its first fund and will be selecting companies over the summer for investments up to $100,000 as a combination of both cash and in-kind services. “Our program is unique in that it combines acceleration capital, company building expertise, and the regulatory and clinical services of a top CRO,” says Larry Lawson, a venture partner and investor with M1. “Access to the M1 founders’ network, both within and outside of the Texas Medical Center, sets these companies up for success. There’s no better group to build a MedTech company with, period.” “Many MedTech companies are launched by innovative first-time founders with strong scientific and medical expertise, but who have never taken a regulated product to market or built a business. After working with so many companies at various stages of this journey to market, both with Proxima CRO and with accelerators from across the country, we realized there was a gap that needed to be filled for these rising founders. They not only need regulatory and clinical assistance from experts with hundreds of success stories in this field, we found they also need assistance with design, manufacturing, business, IP, and so much more,” says Isabella Schmitt, RAC, Director of Regulatory Affairs for Proxima CRO and Principle at M1. “These rising founders need to know what they don’t know; so, we put a lot of thought into what emerging companies and rising executives really need, and from that, we built the M1 curriculum.” M1 MedTech was created to support early-stage medical device companies, offering an immersive experience that provides tangible benefits to participating companies. The program will take on a limited number of enterprises in each cohort and offer a direct approach to helping founders advance their companies and technologies. The coaching process will include a curated educational program, interactive workshops where participants can continually build out specific company deliverables, and tailored one-on-one mentoring. “This is a very personalized program for early-stage companies focused on Class II and III medical devices,” said Sean Bittner, PhD, ACC, Director of Programs at M1 MedTech. “We’re excited to welcome our first cohort this August. The medical device companies that fit best with our program are in pre-seed or seed-stage, have completed a customer evaluation, know the issues they want to address, have not progressed far enough through the pipeline to have communicated with the FDA or completed preclinical or clinical testing,” says Bittner. “We would like the companies to have completed preliminary testing but have not gone too far into the product development phase.” “This is a fantastic opportunity for an early-stage company to receive mentoring and guidance from a group of established individuals in the life sciences industry. The hands-on 12-week workshop curriculum will cover a variety of topics including company formation and management, preclinical and clinical testing, regulatory approval, among other necessary guidance as their companies begin to mature. We are excited to aid the founders in rapidly advancing toward commercialization and prepare them for critical early investment stages.” Kevin Coker, CEO at Proxima CRO and Principal at M1 MedTech Experts from Greenlight Guru, Medrio, Galen Data, and Merge Medical Device Studio join Proxima CRO as sponsors of the program and will assist with content delivery and mentoring. Applications will remain open until May 31. About M1 MedTech M1 MedTech is an accelerator/incubator designed to build MedTech companies. The program offers capital, entrepreneurial expertise, and CRO services, as well as an immersive experience offering a hands-on approach to guide founders as they become MedTech executives and advance their companies and technologies. The coaching process includes a curated educational program with a focus on regulatory and quality dynamics, one-on-one mentoring, and interactive workshops where participants can continually build out specific company deliverables.

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HEALTH TECHNOLOGY

HONEYWELL AND NARAYANA HEALTH PARTNER TO EXPLORE CO-CREATION OF HEALTHCARE TECHNOLOGIES

Honeywell | May 27, 2022

Honeywell announced the signing of a non-binding memorandum of understanding (MoU) with Narayana Hrudayalaya Limited to identify, assess and collaborate on opportunities for the latter's digital transformation journey. This will enable Narayana Health to offer technology-driven, affordable and accessible healthcare for all. The MoU is subject to definitive agreements to be executed between Honeywell and Narayana Health. "These are times of great promise and even greater opportunities in healthcare innovation. At Honeywell, we recognize this and have pivoted towards the development of technologies that will shape the future of healthcare delivery. The MoU with Narayana Health – one of India's foremost healthcare service providers – offers us an opportunity to create a strategic technology development roadmap that will eventually transform India's healthcare industry," said Suresh Venkatarayalu, Chief Technology Officer, Honeywell. "Sensors and digital technology will disrupt health care delivery. Narayana Healthcare is delighted to work with Honeywell to develop digital technologies for making health care safer, more accessible, and more affordable," said Dr. Devi Prasad Shetty, Chairman and Executive Director, Narayana Healthcare. Honeywell's Advanced Sensing Technologies (AST) healthcare business builds on the company's global leadership in sensors to offer devices and software for hospitals, clinics and elderly care facilities to improve communication, collaboration and coordination of clinical care. "The pandemic made it abundantly clear that healthcare organizations need technology that can be seamlessly integrated into existing systems and processes to streamline error prone tasks, enhance patient experience, and improve organizational agility," said Robert Robinson, Vice President and General Manager, Advanced Sensing Technologies Healthcare, Honeywell. Based on the terms of the MoU, Honeywell and Narayana Health will work towards co-innovation and introduction of new products, establish technology development centers, co-create joint capabilities in technology development and research, and undertake the development of fire safety codecs that ensure an end-to-end life safety system to make hospitals safer. As a technology partner, Honeywell will also help enhance and optimize Narayana Health's digital processes and offer training to its employees. The healthcare industry is continuously evolving to keep up with increasing regulatory pressures, while maintaining an environment where patients and staff feel safe. COVID-19 highlighted the need for bringing efficiencies in healthcare delivery to enable fewer personnel to do more onsite. The growth in telemedicine also opened newer avenues for hospitals to manage patient care. Healthcare providers often struggle with developing the right approach to stay ahead of these changes. To help meet some of these challenges, last year Honeywell launched its Real-Time Health Monitoring System (RTHMS). This is a smart edge-to-cloud communication platform for remote and real-time patient monitoring that acts as a bridge between caregiver and patient. This offering integrates hardware and software to improve care delivery, enhance healthcare worker productivity, and enable process efficiency. By digitizing and automating critical tasks, RTHMS can reduce hospital administrative tasks by 35%.1 "Narayana Healthcare has made remarkable progress in using technology to improve clinical outcomes and increase healthcare delivery efficiency. Honeywell's sensor-based applications will complement our efforts in real-time patient monitoring and fire safety, raising the bar for others to meet," Dr. Emmanuel Rupert, Managing Director and Group Chief Executive Officer, Narayana Hrudayalaya Limited Honeywell has a robust portfolio of healthcare technologies – from a patient's first visit, to diagnosis, and returning home from care, Honeywell has the technologies to help healthcare providers increase productivity, efficiency, and shape the future of their organizations. About Honeywell Honeywell is a Fortune 100 technology company that delivers industry-specific solutions that include aerospace products and services; control technologies for buildings and industry; and performance materials globally. Our technologies help aircraft, buildings, manufacturing plants, supply chains, and workers become more connected to make our world smarter, safer, and more sustainable. For more news and information on Honeywell, please visit www.honeywell.com/newsroom.

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