Social Capital Hedosophia Holdings Corp. III will merge with Medicare insurer Clover Health in a deal valuing the latter firm at $3.7 billion, according to a Tuesday press release.
The special-purpose acquisition company, or SPAC, led by billionaire Chamath Palihapitiya will use funds raised in its initial public offering to buy Clover Health and take the combined entity public.
Pharmacy stocks are ailing, thanks to the coronavirus. Ironically, the response to the virus could help lead the way back. The overall equity market has recovered from the worst of the coronavirus crisis, but pharmacy shares are a prominent exception. Walgreens Boots Alliance stock has dropped nearly 38% so far this year. CVS Health, which also owns an insurance unit, is down more than 21%.
An art collective has come up with a novel way of paying off three people's medical debt: turning their hospital bills into huge paintings and selling them to collectors for thousands of dollars.
The Trump Administration is poised to make a settlement with Purdue Pharma that it can claim as a victory for opioid victims. But the proposed outcome would leave the company’s owners enormously wealthy—and off the hook for good.
Shaunna Burns went viral on TikTok, partly because of a series of videos dishing out real-talk advice on fighting outrageous medical bills. She said the way to deal with medical debt is to be vigilant about what debt you incur in the first place.
Older Americans, including 74-year-old President Donald Trump, are more at risk for developing complications from Covid-19, especially if they have underlying health conditions. Among Medicare beneficiaries, there have been more than 1 million cases this year through Aug. 15, according to preliminary data from the Centers for Medicare and Medicaid.