Carbon health stock9/17/2023 ![]() ![]() The deal also includes a non-tradable contingent value right of $10 per share that is linked to “a specified regulatory submission of a baxdrostat product.” Baxdrostat, an aldosterone synthase inhibitor CinCor in-licensed from Roche in 2019, is in clinical development for treatment-resistance hypertension. Under the definitive agreement, AstraZeneca will pay $26 per share in cash, for a total of $1.3 billion. Foshage also remarked that Ascension does not believe inpatient volume will rebound to pre-pandemic levels, which is why the health system will continue to invest in outpatient care and ancillary services, including imaging, ambulatory surgical centers, rehabilitation facilities, and home care.ĪstraZeneca agreed to acquire Waltham, Mass.-based CinCor for as much as $1.8 billion. By consolidating to a single vendor for contract labor systemwide, Ascension reduced its hourly rate for contract labor by nearly 40%, she said. Contract labor, premium, and overtime expenses increased 100% from FY 2021 to FY 2022, and chief financial officer Elizabeth Foshage said contract labor accounted for more than $1 billion of Ascension’s labor costs in FY 2022. The health system had a net loss exceeding $1.8 billion in the fiscal year that ended June 30. Ascension’s $2.5 billion economic recovery plan is designed to stabilize labor costs while the health system invests in ambulatory care and ancillary services to increase patient volumes, Fierce Healthcare reported, citing information that CEO Joseph Impicciche and other senior executives provided at the J.P. ![]()
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