Gawande-Led Health Initiative Will Be Testing The Water This Year With Small Groups Of Employees From Founders’ Companies
Some employees of Amazon, Berkshire Hathaway, and JPMorgan Chase will be offered products the three company's joint venture buys from existing health care companies, said Jack Stoddard, the initiative's COO. Stoddard testified during a hearing over a trade secrets lawsuit, filed by UnitedHealth Group.
Stat:
No Products Yet, But Gawande Health Venture To Begin 'Deploying Tests’ This Year
Atul Gawande’s new Boston-based health care venture has yet to design any products, but it could be changing the way some employees of Amazon, Berkshire Hathaway, and JPMorgan Chase receive their health care within the year, the venture’s chief operating officer told a federal judge on Thursday. The venture’s COO, Jack Stoddard, testified for an hour on Thursday at a Boston federal courthouse during a contentious, technical, and unusually long hearing. The hearing was intended to determine the fate of David Smith, a former midlevel executive at Optum. Smith began a new job at Gawande’s venture, referred to in court documents as ABC, earlier in January. Optum is suing to prevent Smith from continuing to work for the new company. (Sheridan, 1/31)
In other health industry news —
Reuters:
Altria Says Juul Sales Skyrocket To $1 Billion In 2018
Marlboro maker Altria Group Inc said on Thursday e-cigarette maker Juul Labs Inc posted more than $1 billion in revenue in 2018, up from about $200 million a year earlier, the first official growth figures for the controversial vaping product. Altria paid $12.8 billion to acquire a 35 percent stake in Juul in December 2018, getting a foothold in a segment that is quickly becoming an attractive alternative for smokers. (Kumar, 1/31)
Modern Healthcare:
More Than Half Of Health Systems Aren't Prepared For Their CEO To Leave
More than half of hospital and health system executives polled would not have a chief executive lined up if their CEO suddenly left, according to a new survey. Fifty-four percent of 164 executives surveyed said they don't have a ready successor and 43% operate without an effective internal succession plan, according to a new survey from executive search firm Korn Ferry. Nearly a third lack a succession plan entirely. (Kacik, 1/31)
