Apollo Global Management is set to acquire LifePoint Health
Divided into three operating groups: Eastern Group, Central Group and Western Group, LifePoint Health is set to be acquired by private equity firm, Apollo Global Management, CNBC has recently reported. The move has been met positively, with LifePoint jumping over 30% in after-hours trading after the news broke.
Through the deal, Apollo would seek to merge LifePoint with another unit under its umbrella RegionalCare Hospital Partners, which it acquired in 2015.
As the healthcare sector continues to hot up, the deal and potential merger would therefore enable LifePoint to remain competitive, reduce escalating healthcare costs, particularly within healthcare insurance and ensure the delivery of exceptional patient care which is seamless and thoroughly connected.
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LifePoint’s health facilities have recently been honoured with the 2018 Healthgrades Patient Safety Excellence Award, demonstrating the lowest occurrences of 14 preventable patient safety events.
Located in Tennessee, the company is responsible for up to 70 communities across over 20 states in the US, with the sole mission of making communities healthier. Starting with its own staff, LifePoint Health’s Disaster Recovery Fund has helped to support over 400 employees, delivering more than $1mn in financial support.
Walmart, the next health tech giant - a timeline
Retail giant Walmart has been building its healthcare division for a number of years, but its recent acquisition of a telehealth firm and the slow down of its clinic expansion suggest its focus has now shifted to health tech. We look at key moments in Walmart's history in healthcare.
Walmart announces plans to provide "full primary care services" by 2020. The plans include opening clinics in underserved, urban areas, where the chain has many existing stores.
A series of “Healthcare Begins Here” events launch at Walmart stores, where consumers are given information on leading healthy lives, as well as free blood pressure, blood glucose and vision screenings, and access to vaccinations.
As part of the organisation's commitment to pursue a more data-centric approach to worker safety, Walmart partners with StrongArm, manufacturers of safety wearables. Staff begin wearing FUSE, a small sensor worn between their shoulder blades that detects injury risk. Within a year, ergonomic injuries decreased by 65%.
Walmart opens its first health centre in Dallas. The 10,000 square-foot "super centre" offers primary care, X-rays and ECG, counselling, dental, optical, hearing and community health services. Prices are affordable regardless of health insurance status.
The same year a partnership with Doctor on Demand is announced, a telehealth company offering mental health services. As part of the agreement Walmart employees are able to access these services for free.
The first health and wellness clinic opens in Springdale, Arkansas, providing primary care, dental care, vision and hearing services as well as behavioural health, fitness and wellness education classes.
Walmart acquires CareZone’s medication management technology. CareZone's app reminds users to take their medication and provides refill reminders. The acquisition complements Walmart's existing pharmacy service.
The Wall Street Journal reports that Walmart is in talks with Verizon to implement 5G wireless service in select sites, to help boost digital health services.
As part of its COVID-19 response, drive-thru testing is offered at hundreds of Walmart Neighborhood Market drive-thru pharmacy sites, free of charge through Humana .
The retail giant teams up with the Department of Veterans Affairs to offer telehealth services to veterans at stores in Wisconsin, Michigan and Iowa.
Walmart Mexico signs a deal with Jack Nathan Medical Corp, a Canadian tech-focused healthcare provider. This will see 153 new medical clinics open within stores across Mexico, taking the total in the country to 203.
Walmart announces it is acquiring MeMD, a multi-speciality telehealth provider. The acquisition will enable Walmart Health to provide access to virtual care across the US. At the same time it is reported that plans to open further clinics are deliberately slowing down.
"Today people expect omnichannel access to care, and adding telehealth to our Walmart Health care strategies allows us to provide in-person and digital care across our multiple assets and solutions" Dr. Cheryl Pegus, executive vice president for Health & Wellness said of the announcement.