Cardinal Health names new CEO, gains mixed quarter figures
Despite witnessing a slight increase in revenue, and pharmaceutical sales growing to $28.9 billion, Cardinal Health is seeing increased competition in the drugs pricing market despite its partnership with CVS Health. This is in addition to the threat of booming businesses such as Amazon, who could be set to join the industry.
At present, the business’ stock pricing is down by over 20%. To counteract such uncertainties, the business has named its new CEO. Former Chief Financial Officer Mike Kauffman is set to take the helm and replace George Barrett at the start of 2018, in order to streamline the business, enable competitive pricing and push the approval of new treatments at a quicker pace to boost further revenue and increase in stock pricing.
"Fiscal year 2018 started largely as we expected and included strong performance from many of our business lines across the segments," commented present CEO George Barrett in a statement. "With one quarter behind us, we remain comfortable with our full-year guidance. We're excited to have closed the Patient Recovery transaction during Q1 and are pleased to report the integration is going well."
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With extensive experience at Cardinal Health, Kauffman has worked for the business for nearly 30 years and has advanced knowledge of the business’ internal operations, in addition to the challenges the role will present both nationally and internationally. Kauffman has also played an essential part in building relationships with Cardinal Health’s partners, such as CVS Health.
“I am honoured to be selected as Cardinal Health's next chief executive,” said Kaufmann. “George has built a powerful legacy and strategy that I am proud to have helped craft.
I look forward to working with him and our incredibly talented and dedicated team to build on the strong foundation we have in place and further enhance the value we provide to all of our stakeholders, while never losing sight of our ultimate goal of supporting our partners in the critical work they do serving patients and their families.”
COVID-19 app for NHS staff launches as restrictions lift
A new app has launched today to support UK hospital staff who have been redeployed to care for COVID-19 patients.
The Acute COVID app has been co-developed by Chelsea and Westminster Hospital NHS Foundation Trust and its charity CW+, along with health tech company Imagineear Health.
It provides information to healthcare staff via a step-by-step guide, aimed at both doctors and nurses. This includes the different stages of COVID-19 so they have guidance around triage at A&E, hospital admission, in-hospital treatments, and advanced care management.
The app also provides training on non-invasive ventilation. In the first wave of the pandemic the numbers of patients needing this type of ventilation led to staff who would not normally administer this to patients having to do so.
Additionally the app signposts staff to where they can access mental and physical wellbeing support, acknowledging the levels of staff burnout, particularly among frontline staff, the pandemic has created.
The launch of the app comes on the same day England lifts its COVID-19 restrictions, labelled "freedom day" by some. However infection rates have soared in recent weeks and the move has been fiercely opposed by scientists and doctors, both in the UK and abroad.
In a letter published in medical journal The Lancet backed by 1,200 international scientists, experts called the unlocking "a threat to the world", as allowing infection rates to rise enables the virus to mutate and potentially become resistant to the vaccination.
At the weekend the newly appointed health secretary Sajid Javid announced he had tested positive for coronavirus, and both Prime Minister Boris Johnson and the chancellor Rishi Sunak are self-isolating.
Meanwhile in the first week of July more than 500,000 alerts were issued by the NHS Covid-19 app telling people they had been exposed to the virus. As a result businesses are considering cutting their opening hours while staff are self-isolating at home. The government has issued guidance saying that fully vaccinated frontline NHS staff in England will be allowed to carry on working even if they've come into contact with someone with COVID-19.