Its parent company facing bankruptcy, Seton Medical Center in Daly City was set to be sold for $70 million last year. Seton Medical Center is Daly City's largest employer.
Schrödinger Inc. said it plans to launch an initial public offering, according to a Securities and Exchange Commission filing late Friday. Schrödinger said it plans to raise $100 million in the IPO, although that amount is usually used as a placeholder and is subject to revision in later filings.
Eastern Niagara Hospital, which filed for Chapter 11 bankruptcy protection in November because it is unable to pay about $14.5 million in accumulated debt, has scheduled a public forum next week to discuss its future.
The U.S. health system could get some relief from rising drug prices from an unlikely source: a venture capitalist starting a new company to try to make medicines less expensive.
For years, drug companies have enjoyed the freedom to charge high prices for their latest products. But when Sanofi and Amgen Inc. each marketed a powerful new cholesterol-lowering medicine, something surprising happened: High prices hurt sales. Sanofi’s experience has been especially painful.
Deepak Ahuja, a former Tesla executive who spent two stints at the electric car maker and helped take it public, is joining Verily as its CFO. Verily is a health and life sciences unit that sits within the Alphabet umbrella. Ahuja says he sees a “window of opportunity” in health care that mirrors what he saw when he first joined Tesla.