7 things for ASC leaders to know for Thursday — Feb. 16, 2017
This week was packed with news surrounding federal judges ruling in favor of the Department of Justice and blocking two major payer deals.
Here are seven updates:
SC health department denies Medical University of South Carolina's CON application for ASC
The South Carolina health department denied Charleston-based Medical University of South Carolina's certificate-of-need application to build a freestanding ASC. MUSC wanted to build the $12.5 million ASC as part of the health system's larger strategy to expand its presence in the South Carolina area.
Anthem sues Cigna over terminating merger
Indianapolis-based Anthem filed a lawsuit to block Broomfield, Conn.-based Cigna from terminating its proposed $54 billion merger agreement. Cigna filed a suit Feb. 14, 2017, seeking to end the merger agreement and collect up to $14.85 billion in damages and breakup fees.
Aetna, Humana forgo deal following judge's ruling
In a mutual decision, Aetna and Humana opted to end their merger agreement after Judge John Bates of the U.S. District Court ruled in favor of the Department of Justice and blocked the deal. As per the deal's terms, Aetna will pay Humana a $1 billion break-up fee.
Judge orders federal government to pay Moda Health $214M in risk-corridor lawsuit
The U.S. Court of Claims ruled on behalf of Portland, Ore.-based Moda Health, saying the federal government must pay Moda $214 million. In an opinion, Judge Thomas Wheeler said the government agreed to pay Moda millions under the risk-corridor program and therefore "the court directs the government to fulfill that promise. After all, to say to [Moda], 'The joke is on you. You shouldn't have trusted us,' is hardly worthy of our great government."
Allergan's Q4 beats analysts' estimates
Parsippany-Troy Hills, N.J.-based Allergan reported earnings per share of $3.90 for its fourth quarter, beating analysts' estimates of $3.76 EPS. The company's $3.86 billion in revenues for Q4 also exceeded analysts' expectations of $3.77 billion.
Dr. David Shulkin is the new VA secretary
The Senate confirmed David Shulkin, MD, as the Department of Veterans Affairs' secretary on Feb. 13, 2017. As secretary, Dr. Shulkin plans to keep his promise and not privatize the VA, saying, "There will be far greater accountability, dramatically improved access, responsiveness and expanded care options. But the Department of Veterans Affairs will not be privatized under my watch."
Stonerise Capital Management slashes AmSurg stake in half
Stonerise Capital Management lowered its stake in Nashville, Tenn.-based AmSurg by 50 percent in the third quarter. During Q3, the firm sold 250,000 AmSurg shares.
More articles on healthcare:
Judge temporarily blocks Cigna from ending merger
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