Morning Briefing
Summaries of health policy coverage from major news organizations
Hollywood Elite Shift Focus To Health Care As Actors Back Function Health
Modern Healthcare: Function Health's $298M Series B Backed By Matt Damon, Zac Efron
Function Health, a health tech company offering lab testing and imaging scans to patients, raised $298 million in a Series B funding round. The round was led by venture capital firm Redpoint Ventures. Other investors included venture capital firms Andreessen Horowitz and Menlo Ventures, as well as actors Matt Damon and Zac Efron, more than a dozen professional athletes and numerous other angel investors. (Perna, 11/19)
Stat: AI Startup Aims To Diagnose Hundreds Of Conditions On Medical Images
Since 2016, Adam Yala, a University of California, Berkeley computer scientist, has listened intently, if skeptically, to forecasts by medical software makers that radiologists were nearing extinction. Artificial intelligence, the thinking went, was about to take their jobs. (Ross, 11/20)
In other health industry news —
NJ.com: N.J. Hospital Says It Can’t Pay Employees, Must Close After 152 Years
A Jersey City hospital will close its doors after 152 years of service after failing to get millions in support from the government, its parent company announced last week. Heights University Hospital will operate only as a standalone emergency department and support services starting on Saturday, said Dr. Nizar Kifaieh, president and chief executive officer of Hudson Regional Health. (Roman, 11/14)
Chicago Tribune: State Board Approves Closure Of Obstetrics Unit
Ascension Alexian Brothers will soon close its inpatient obstetrics unit after a state board voted Tuesday to allow the move, despite outcry from nurses and community members. The state Health Facilities and Services Review Board voted 6-3, after a lengthy discussion, to approve the hospital’s application to close the unit. (Schencker, 11/19)
Modern Healthcare: Providence Swedish Cuts To Affect 296 Positions
Two Providence organizations announced plans Tuesday to cut more than 400 positions. Providence Swedish plans to cut 296 positions early next year, and Providence Oregon is eliminating more than 150 roles this week. The cuts affect clinical and administrative roles. (DeSilva, 11/19)
Chicago Tribune: Saint Anthony Hospital Investigating Breach Of Email System
St. Anthony Hospital is investigating a breach of its email system that may have exposed the personal information of 6,679 people. (Schencker, 11/19)
Modern Healthcare: WVU Health To Acquire Independence, Invest $800M In Upgrades
West Virginia University Health System announced an agreement Wednesday to acquire Independence Health. Morgantown-based WVU Health System, branded as WVU Medicine, would invest $800 million over five years to upgrade Greensburg, Pennsylvania-based Independence’s facilities, according to a news release. The deal is expected to close in fall 2026, pending regulatory approval and bondholder consent, a WVU Medicine spokesperson said. (DeSilva, 11/19)
Chicago Tribune: Northwestern Medicine Gets $25 Million For Behavioral Health
Northwestern Medicine has received a $25 million donation from Kent and Liz Dauten and their family foundation to create a new behavioral health institute. (Schencker, 11/19)
KFF Health News: Complaints About Gaps In Medicare Advantage Networks Are Common. Federal Enforcement Is Rare
Along with the occasional aches and pains, growing older can bring surprise setbacks and serious diseases. Longtime relationships with doctors people trust often make even bad news more tolerable. Losing that support — especially during a health crisis — can be terrifying. That’s why little-known federal requirements are supposed to protect people with privately run Medicare Advantage coverage when contract disputes lead their health care providers and insurers to part ways. (Jaffe, 11/20)
