STAT-Technologies, FDI Medical merger announced
STAT-Technologies, Inc. (Golden Valley, MN), a medical supply distributor specializing in point-of-care and CLIA-waived technology and wellness screening technology, has merged with FDI Medical (Natick, MA), an independent medical distributor allocating preventative and diagnostic health testing products.
Perry Witkin, president of STAT-Technologies, said:
“The FDI team is world class and is passionate about the same things we are – consulting with customers to make the best point-of-care medical test purchases possible. Like STAT-Technologies, FDI selects the highest quality products to distribute to their customers and provides exceptional customer service. In an increasingly competitive and specialized environment, by combining our operations and staff we significantly expand our product offerings and access to resources for our customers. In addition, Greg Lunt, who has been our friend for 20 years, and the FDI sales staff will be staying on with us to ensure a smooth transition and continued growth.”
Greg Lunt, president of FDI Medical, said:
“The healthcare industry is advancing faster than ever before, so constant improvements and access to economies of scale in including supply chain, warehousing and financing is a priority for us. Having the ability to better serve all of our customers was a driving factor for our merger with STAT-Technologies.”
Investors entering into supply chain technology at fast pace
Companies that exceed $1 billion valuations are jumping into the logistics sector to help digitize the world’s supply chain operations. Large investment funds are injecting money in at a fast pace for digitally focused ventures in freight, delivery and warehousing. Supply chain technology startups raised $24.3 billion in venture funding in the first three quarters of 2021, 58% more than the full year total for 2020, according to the Wall Street Journal.
Henry Schein’s Stanley Bergman honored by The National Hispanic Health Foundation
Stanley Bergman, chairman of the board and chief executive officer at Henry Schein, Inc. (Melville, NY), was honored by The National Hispanic Health Foundation (NHHF) for his leadership in helping to improve health equity and supporting the needs of Hispanic communities and health professionals. The NHHF is the philanthropic arm of the National Hispanic Medical Association (NHMA) and it honored Bergman at its 18th Annual New York Hispanic Health Professional Student Scholarship Gala.
Henry Schein has supported the mission of NHHF and NHMA to recruit more members of the Hispanic community into healthcare careers, advocate for increased Hispanic faculty at dental and medical schools, and expand access to and improve equity in healthcare. Most recently, the Henry Schein Cares Foundation has supported the efforts of NHHF and NHMA to reduce vaccine hesitancy and bridge cultural barriers to vaccine access in Latino communities, including the “Vaccinate for All” campaign, which includes cultural competency tools to engage and encourage Latino and Hispanic Americans to get vaccinated.
Quidel Corp. signs definitive agreement to acquire Ortho Clinical Diagnostics for approx. $6B
Quidel Corp. (San Diego, CA) and Ortho Clinical Diagnostics Holdings plc (Raritan, NJ) have entered into a definitive agreement in which Quidel will acquire Ortho, one of the world’s largest in vitro diagnostics companies, for $24.68 per share of common stock using a combination of cash and newly issued shares in the combined company for an equity value of approximately $6 billion. The transaction is expected to close during the first half of fiscal year 2022, subject to customary closing conditions.
The combined organization will unite technologies and platforms to benefit customers with expanded access to clinical chemistry, immunoassay, molecular diagnostics, immunohematology, donor screening and point-of-care diagnostics offerings.
“The combination with Ortho will help solidify Quidel as a leader in the diagnostics industry, bringing together innovative, complementary products, solutions, and services that enhance the health and well-being of patients across the globe,” said Douglas Bryant, President and Chief Executive Officer of Quidel, who will serve as Chairman and Chief Executive Officer of the combined company. “Establishing a stronger leadership position, we expect the combined company will emerge as a global player with top-tier R&D capabilities, a more diverse product pipeline, and broader geographic footprint. Importantly, our complementary cultures are underpinned by a commitment to our customers, patients, and the communities we serve, reinforcing our confidence in the long-term value creation of this transaction. We are impressed by what Ortho has accomplished for patients. We look forward to joining together to continue the strong patient focus that is core to our mission, creating an organization with a shared goal of discovering, developing, and delivering innovative solutions to our customers.”
“Quidel shares our commitment to customers and passion for the patients we serve. By bringing together Quidel’s point-of-care diagnostics with Ortho’s vast global reach, there is a substantial opportunity to capitalize on the cross-selling opportunities, move into attractive adjacent markets, and accelerate innovative product expansion and the development of molecular technologies,” said Chris Smith, Chairman and Chief Executive Officer of Ortho. “Together, we will continue to advance life-changing diagnostic solutions to improve patient outcomes and deliver economic benefits to the healthcare system.”
HCA Healthcare acquires MD Now Urgent Care with 59 locations in Florida
HCA Healthcare, Inc. (Nashville, TN) has purchased MD Now Urgent Care, a network of 59 urgent care centers in Florida. The transaction significantly expands HCA Healthcare’s reach as one of the nation’s largest providers of urgent care, currently operating more than 170 clinics across 19 markets. MD Now is the largest urgent care provider in Florida.
The acquisition of these MD Now centers, combined with the November announcement of HCA Healthcare’s plans to build three additional hospitals in the state, will enhance HCA Florida Healthcare’s ability to offer patient-centered, high-quality care to more Floridians and meet the growing need for healthcare services in the state. HCA Florida Healthcare currently serves 6.4 million patients each year at more than 400 affiliated sites of care across Florida.
The transaction was completed at the end of 2021. The terms of the transaction were not disclosed.
Cardinal Health, Baxter invest in Medically Home
Medically Home announced a new, $110 million round of funding from strategic investors including Baxter International Inc., Global Medical Response (GMR) and Cardinal Health who will each have representation on the company’s Board. Cardinal Health, Mayo Clinic and Kaiser Permanente are providing additional capital on top of their previous investments, demonstrating confidence in the growing expansion of the model nationwide.
The Medically Home model unlocks patients’ homes as safe alternative sites to receive high and lower acuity care across the care continuum in the comfort and convenience of their homes. This capability is designed to increase health system capacity and resiliency, while meeting the needs and wants of patients, who often prefer to be cared for at home or in a homelike setting. More than 7,000 patients have been treated using the Medically Home platform and ecosystem, as delivered by health systems across the country and utilization is expanding rapidly.
The model is expected to increase demand for a next-generation clinical workforce that combines centralized care oversight (guided by physicians and nurses in medical command centers) with field clinicians (nurses, paramedics, and technicians), who work seamlessly as a team. This work force is supported by Medically Home’s national partners that bring all the needed clinical and supportive services, medication, medical equipment, technology and other capabilities that create a safe and effective site of advanced medical care.
Suzanne Foster, President, Cardinal Health at-Home Solutions said, “Our continued partnership illustrates Cardinal Health’s strong commitment to Medically Home and the unrelenting efforts of so many to transform healthcare and expand the accessibility of safe, effective hospital-level care at home. Enabling health equity and decentralized care for patients to receive hospital level care is no longer healthcare of the future – it’s here today, and Cardinal Health is devoted to working closely with Medically Home and its partners to collectively provide optimal, in-home patient experiences and outcomes.”