Two Abbott Glucose Monitors Can Be Sold Over The Counter: FDA
Abbott Laboratories has been cleared to sell a device for health-conscious people and another for diabetes, both over the counter. Meanwhile, booming weight-loss drugs are thought to spur demand for dietary supplements and healthier food formulations.
Reuters:
Abbott Secures FDA Clearance For Two Over-The-Counter Glucose Monitors
Abbott Laboratories said on Monday the U.S. health regulator had cleared the company's two new over-the-counter glucose monitoring devices, expanding its presence in a fast-growing, multi-billion-dollar market. The devices, one for the health-conscious and another for those with diabetes, follow the company's FreeStyle Libre, which generates over $1 billion every quarter and is sold under prescription for patients with diabetes. (Jain and Roy, 6/10)
Reuters:
Dsm-Firmenich Sees Boost As Weight-Loss Drugs Spur Healthier Choices
The soaring popularity of weight-loss drugs are likely to spur demand for dietary supplements and healthier food formulations, creating growth opportunities for dsm-firmenich, the CEO of the flavours to nutrition company told Reuters. Drugs such as Novo Nordisk's (NOVOb.CO) Wegovy and Ozempic have taken the health industry by storm, offering the prospect of significant weight loss for obese people when combined with lifestyle changes such as healthier eating and exercise. (Rhodes and Allievi, 6/10)
Modern Healthcare:
Addus HomeCare Acquires Gentiva’s Home Care Business For $350M
Addus HomeCare extended its reach into the personal care space Monday, announcing a $350 million deal to acquire Gentiva’s home care business. The acquisition will help the Frisco, Texas-based company expand its footprint in Arizona, Arkansas, California and Tennessee and provide personal care services in three new states: Missouri, Texas and North Carolina. Addus already provides hospice services in Texas. (Eastabrook, 6/10)
Modern Healthcare:
Oscar Health Shifts Focus From ACA Coverage To ICHRAs
Oscar Health is committed to the individual insurance market and in it for the long haul, executives said Friday. At the company's annual investor conference, senior leaders shared plans to shift Oscar Health's focus from traditional Affordable Care Act coverage to serving the individual market — including small and mid-sized employers — through individual coverage health reimbursement arrangements or ICHRAs. (Berryman, 6/10)
Modern Healthcare:
Healthcare Construction Growing Amid Inflation, Labor Shortages
Health systems are planning more construction projects focused on long-term growth and outpatient care, often renovating and repurposing existing facilities to support new services. About 60% of respondents to Modern Healthcare's 2024 Construction and Design Survey said the healthcare construction industry is growing, though inflation, high material costs and labor shortages continue to present challenges. (DeSilva, 6/10)
Meanwhile, in other industry news —
Axios:
What Retail Titans Might Do Next On Health Care
Major retailers are abandoning or scaling back their ambitions to become health care providers — but don't look for them to pull out of the market entirely. Retailers hoping to grab a bigger piece of the $4.5 trillion health care market are likely to lean into their core strengths: consumer products, alongside some health services that don't require major investments, experts said. (Reed, 6/11)
Modern Healthcare:
Ascension Cyberattack: EHR Restored In Florida, Illinois, Alabama
Ascension is pushing to restore all electronic health records this week, and many of the affected states in its footprint are back online. Ascension has restored access to health records in Alabama, Florida, Illinois, Maryland, Oklahoma, Tennessee, Wisconsin and part of Texas, according to the nonprofit health system's website. That leaves facilities in four states and Washington, D.C., waiting to come back online. (Hudson and Broderick, 6/10)
Newsweek:
Hospitals Are Hacked, Then Sued. Is It Fair?
Less than one month after Ascension confirmed a data breach, the health system is staring down six class action lawsuits. Filed in courts from Texas to Tennessee, the separate complaints allege that Ascension failed to properly safeguard patients' personal health information. The plaintiffs—all patients of the 140-hospital system, which operates in 19 states and the District of Columbia—seek monetary damages and injunctive and declaratory relief. (Kayser, 6/10)
Modern Healthcare:
Waystar CEO Matthew Hawkins On IPO Decision, Stock Price Dip
Healthcare payments company Waystar on Friday became the first digital health and healthcare technology-focused company to go public since 2022. The response was tepid. On the first day of trading, shares closed at $20.70 a share, down 3.72% from the $21.50 per share offering price. Still, the 45 million shares in its initial public offering meant Waystar raised raised $967.5 million. (Turner, 6/10)
Modern Healthcare:
Teladoc Names Charles Divita III As CEO
Teladoc ended a two-month search for a new CEO on Monday by tapping a former health insurance executive as its new leader. The Purchase, New York-based telehealth said it hired Charles "Chuck" Divita III as its CEO effective immediately. Divita previously served as an executive vice president focused on commercial markets for GuideWell, the parent company to health insurer Florida Blue. Divita also joined Teladoc's board of directors. (Turner, 6/10)
Obituaries —
Modern Healthcare:
OSF HealthCare’s Sister Diane Marie McGrew Dead At 57
OSF HealthCare President Sister Diane Marie McGrew died Sunday. McGrew was 57, a spokesperson for the organization said. She had faced ovarian and uterine cancer over the past five years, according to a Monday news release. (DeSilva, 6/10)
