COVID-19 Test Produces Accurate Results In 20 Minutes
San Diego, California-based Cue Health is receiving a massive boost in funding from the Department of Health and Human Services (HHS). HHS is investing $481 million in Cue so that it can ramp up the production of its COVID-19 diagnostic test.
Fast, reliable tests differentiate the Cue Health COVID-19 test from others
The Cue Health diagnostic test generates results in about 20 minutes. …
Bartell’s is one of the last remaining privately-held retail drugstore chains
In an unexpected move, Rite Aid (NYSE: RAD) has announced it is acquiring the privately-held, family-owned and operated Bartell Drugs retail pharmacy chain for $95 million. The deal will add 67 stores to Rite Aid’s 2,500 pharmacies.
Bartell Drugs was in operation for over 120 years
Bartell Drugs was founded in 1890 and its stores are centered around the greater Seattle marketplace. The independent pharmacy chain was under heavy competition from Costco, CVS, Walgreens and Walmart as well as from pharmacy benefit manager (PBM) mail order pharmacy rivals operated by UnitedHealth Group, Aetna (CVS), Express Scripts (Cigna), Huma, Prime Therapeutics and others plus the growing success of grocery chain Kroger’s in-store pharmacy units. …
Kindred exits an industry sector it helped commercialize
Select Rehabilitation, a leader in senior care and other specialized patient care services, is buying Kindred Healthcare’s RehabCare business unit. Headquartered in Glenview, Illinois Select Rehabilitation was founded in 1997 and is a privately-held company.
The divestiture by Kindred Healthcare is part of a long term corporate strategy that it has been orchestrating over the last several years. For Select Rehabilitation, it escalates their growth trajectory and positions them in the upper ranks of contenders in the sector.
Mergers & acquisitions growing in frequency and scale in the LTC/SNF and assisted living healthcare sector
The Select Rehabilitation and Kindred Healthcare deal reflects the ongoing consolidation trend among assisted living facility and skilled nursing facility (SNF) or long term care (LTC) operators. …
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