Meme stocks typically generate investor interest through social media forums, and most of the time their rallies are not backed by strong financials or market technicalities. Given the speculative nature of retail investors and these stocks’ supernormal price gains, they generally retreat following an extended rally. Meme stocks in the healthcare sector are currently more susceptible to a market crash because investors are focusing on outdoor and cyclical stocks amid the fast-paced economic recovery.
A former Spectrum Health executive says he doesn’t support the Grand Rapids-based health system’s proposed merger with Beaumont Health, and that he fears the move creates the “potential for massive financial loss.”
Finger Lakes Health announced that it has appointed Trisha Koczent as its treasurer and chief financial officer (CFO). Koczent has more than 25 years of experience in health-care finance. Most recently she served as CFO at Auburn Community Hospital. Koczent oversaw all financial operations and departments at the hospital, including accounting and payroll, revenue cycle, patient accounts, health-information management, physician billing, population health, and materials management. Prior to that, she held various executive positions in health-care leadership in the Finger Lakes region.
The FDA’s approval of a new Alzheimer’s treatment — the first one in almost two decades — should have been a cause for celebration. Instead, it has become a scientific and financial mess.
Unlike One Medical, Iora is still a private company, but it has closed several rounds of funding. In February 2020, Iora scored $126 million to build a new Medicare Certified EHR system. The company has more than $350 million in funding. One Medical said this new acquisition will help it expand its full-risk models, as well as expand into new populations. The transaction is expected to close in late Q3 or Q4 of 2021. After the acquisition closes, Iora Health’s CEO Rushika Fernandopulle will join One Medical as chief innovation officer. Additionally, after the close, the joint company will be able to hit 28 markets across the U.S.
The long-sought merger of financially strapped Randolph Health with a California-based health care group has moved closer to reality after the deal cleared its last regulatory hurdle. The N.C. Attorney General's Office has signed off on the sale of the health system to American Healthcare Systems. The Attorney General's Office had to approve the merger proposal because a nonprofit entity — Randolph Health — is being sold to a for-profit group.