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February 4, 2022

ICYMI 3 Big News Stories from January

Commentary
HealthXL Team

3 Big News Stories from January

Every Friday we recap the biggest news story of the week to make sure you don’t miss out on the latest trends, developments, moves and acquisitions in digital health. But in case you missed it (ICYMI) this round-up will catch you up on the top stories from the past month. 


#1 Story: Making Meds Affordable: Mark Cuban Launches Online Pharmacy


The story: Billionaire investor Mark Cuban has launched an online pharmacy through “Mark Cuban Cost Plus Drug Company” (MCCPDC) for generic drugs that promises steep discounts over traditional distributors. The pharmacy is cash-only to avoid working with Pharmacy Benefit Managers (PBMs), which means insurance is not accepted. While paying out-of-pocket could be an issue for people short on cash, the costs of generics at the pharmacy will still be cheaper than what many people pay with insurance.


What you need to know: 



Industry Implications: 



Get the full story here 



In other news… 


#2 Story Snapshot: Quest Diagnostics Makes a Digital Health Platform Play


The story: Quest Diagnostics announced plans to acquire Pack Health, a patient engagement platform that specializes in addressing chronic conditions and comorbidities. The acquisition adds to Quest’s Extended Care services and creates opportunities to leverage their diagnostic insights. While the Quest and Pack Health acquisition amount was not disclosed, the entry of major laboratory companies into this space shows there are many big players with budgets to spend on digital health. This may lead to a continuation of the high valuation trend we saw in 2021. 


Get the full story here


#3 Story Snapshot: Big Tech Making Impact in the Surgical Space


The story: Johnson & Johnson Medical Devices Companies (JJMDC) has entered a partnership with Microsoft to grow and expand JJMDC’s secure and compliant digital surgery ecosystem. This collaboration will allow JJMDC to advance skills, improve workflows and enhance surgical decision making for a better overall customer experience and improve patient outcomes. This may signal a shift in the big tech landscape, focusing on partnerships and consolidation over individual efforts when it comes to tackling healthcare, with recognition of the value add big tech can have for other players in the healthcare ecosystem. 


Get the full story here



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