Leg compression device developer Tactile Systems Technology set the terms for its initial public offering today, saying it plans to float 4 million shares at $14 to $16 apiece. At the midpoint, that would fetch $60 million, or 30% less than the $86 million projection the company put up when it registered the IPO in January. […]
Hospital Care
Software startup Valify raises $2m in Series A
Texas hospital-software startup Valify raised $2 million in a Series A round of financing, according to Xconomy. Dallas, Texas-based Valify produces software and analytics to improve hospital spending awareness and to streamline vendor relationships, the company said. “Strangely enough, it’s hard for a health system to know many (vendors) they’re using across the system. We […]
Stung by Yelp reviews, health providers spill patient secrets
by Charles Ornstein, ProPublica. The story was co-published with The Washington Post. Burned by negative reviews, some health providers are casting their patients’ privacy aside and sharing intimate details online as they try to rebut criticism. In the course of these arguments — which have spilled out publicly on ratings sites like Yelp — doctors, dentists, chiropractors […]
Philips inks $36m patient monitoring deal with Medical University of South Carolina Health
Royal Philips (NYSE:PHG) said it inked an 8-year, $36 million deal with Medical University of South Carolina Health for its patient monitoring technology and services. The deal calls for the Dutch conglomerate to install, integrate and manage patient monitoring systems and software, plus maintenance, training and consulting services, for the South Carolina healthcare provider, using a […]
Report: ConvaTec preps $1B IPO
ConvaTec is reportedly seeking investment banks to hire underwriters for an initial public offering that could raise more than $1 billion. The Luxembourg-based medical device company, which makes products for wound care, ostomy care and infusion, is owned by private equity firms Avista Capital Partners and Nordic Capital. Citing “people familiar with the matter,” Reuters reported that ConvaTec […]
Nobilis launches Concertis bundled payment biz
Nobilis Health said today it launched Concertis, a business developing a technology platform for new payment and delivery methodologies, such as bundled payments. The Houston, Texas-based company named former Baker Donelson health law partner Marissa Arreola as the new divisional president of Concertis. “Concertis’ proprietary technology platform coupled with its commitment to developing unique bundled […]
Halyard battles ’60 Minutes’ story on faulty Ebola gowns
Halyard Health (NYSE:HYH) is battling a 60 Minutes story from CBS accusing Halyard of providing defective Microcool surgical gowns, meant to protect workers from blood transmitted diseases, to health care workers during the Ebola outbreak of 2014. The show reported that the gowns, which are recommended by the Centers for Disease Control and have AAMI Level […]
Hill-Rom slides on Q2 revenues miss
Hill-Rom (NYSE:HRC) shares took a hit today after the company reported that fiscal 2nd-quarter sales missed expectations despite the contribution of new acquisition Welch Allyn. Chicago-based Hill-Rom said profits were $22.3 million, or 33¢ per share, on sales of $632.6 million for the 3 months ended March 31, for a -14.6% bottom-line slide on sales growth […]
US gov’t delays CMS hospital rating system
The Obama Administration is holding off from publishing new hospital-quality ratings over concerns raised by healthcare providers and Congress over the methodology of the ratings system, the Wall Street Journal reports. The Centers for Medicare and Medicaid Services were slated to begin publishing start-ratings for hospitals to help patients compare the quality of service at […]
Uganda’s only cancer treatment machine breaks, patients left waiting
(Reuters) – Thousands of cancer patients in Uganda will be left untreated for months after the nation’s only radiotherapy machine broke down, triggering public criticism about underfunding in the health system weeks after the president’s re-election. The device, bought in 1995 and sited at the main Mulago referral hospital, stopped working early in April, Christine […]
Survey: Hospitals aren’t ready for Medicare bundled payment program
Hospitals may not be ready to handle the Centers for Medicare and Medicaid Services new bundle reimbursement payments for hip and knee replacement procedures, according to a report from Intralign. In an online survey, Intralign said hopsitals reported an average grade of 55% out of 100% in rating their preparedness for CMS’s new Comprehensive Care for […]