Federal Judge Foils Largest Merger In US Supermarket History
CNN reports that worries over consumers' financial well-being loomed over the potential merger of Kroger and Albertsons. Also in the news: a potential Walgreens sale, how AI can cut hospital expenses, and more.
CNN:
Federal Judge Blocks Kroger’s $25 Billion Mega-Merger With Albertsons
A federal judge in Oregon blocked Kroger’s proposed $25 billion tie-up with Albertsons, ruling that the largest merger in US supermarket history would limit competition and harm consumers. The ruling is a major setback for the chains and puts the merger’s likelihood in jeopardy. The judge issued a preliminary injunction halting the deal, which the companies can appeal. (Meyersohn, 12/10)
Modern Healthcare:
Walgreens May Be Sold To Private Equity Firm Sycamore Partners
Walgreens is reportedly in talks to sell itself to private equity firm Sycamore Partners. Walgreens and Sycamore have been discussing a deal that could close in early 2025, according to a Tuesday report from the Wall Street Journal, which cited people familiar with the matter. The deal would take Walgreens off the public market. (Hudson, 12/10)
The Wall Street Journal:
CarePoint Creditors, Regulator Seek To Oust Directors From Rival Hospital Operator
Creditors of CarePoint Health and its New Jersey regulator are seeking to remove three board members affiliated with Hudson Regional Hospital, a competing hospital operator that has proposed taking over the CarePoint hospitals out of bankruptcy. The three individuals, employed by Hudson Regional, can’t sit on CarePoint’s board while providing loans to the hospital operator and attempting to acquire its assets. ... These roles pose insurmountable conflicts of interest, the objecting lawyers said. (Biswas, 12/10)
Modern Healthcare:
Siemens Buys Advanced Accelerator Applications Molecular Imaging
Siemens Healthineers has finalized its deal to purchase radiopharmaceutical company Advanced Accelerator Applications Molecular Imaging from Novartis, the company announced Tuesday. The property, which Siemens renamed Advanced Accelerator Applications, manufactures and distributes diagnostic radiopharmaceuticals for positron emission tomography scans. The Siemens Healthineers-Novartis deal is worth $224 million, Reuters reported. (Dubinsky, 12/10)
Modern Healthcare:
How AI Can Cut Hospital Expenses, Increase Revenue
Health systems are using artificial intelligence to get patients in and out of the hospital quicker, increase capacity and hone staffing levels. Cleveland Clinic, OhioHealth and UCHealth are among the many systems using predictive analytics and machine learning to try to run hospitals more efficiently, cut down on unnecessary expenses, increase revenue and improve the patient experience, executives said. Much of the cost savings stem from reallocating nurses to different departments based on demand, and revenue increases come from treating more patients. (Kacik, 12/10)
