Hello,
We've made it to the end of a shorter - but no less eventful - workweek. We end the week with a new president, and I for one am looking forward to what stories emerge as President Joe Biden's policies start to impact the business of healthcare.
This week, we spent our time (when not tuning into the inauguration) covering what the Biden administration's vaccine plans are, tracking the latest developments at billion-dollar startups Cityblock Health and Aledade ($2.1 billion to be exact), and examining why 2021 is shaping up to be a big year in healthcare dealmaking.
We're starting a new administration in the middle of a pandemic in a country that's already having problems getting enough vaccines out to the public.
On Thursday, Biden laid out a detailed plans for retooling the program put in place under the Trump administration.
Kimberly Leonard has the full story of what's in store in the first 100 days of Biden's presidency. One key detail: the name Operation Warp Speed will not live on.
I wanted to share with you a pair of stories from this week chronicling the state of two startups as they hit billion-dollar (plus, in the case of one of them) valuations.
First: Shelby Livingston had the scoop on primary-care startup Aledade's recent $100 million round, which valued the company at $2.1 billion.
The company shared with her the presentation it used to win over investors, which included details about its size and its plans to grow its Medicare Advantage footprint.
You can see the entire presentation here>>
Then: Blake Dodge has an inside look at how Cityblock Health, a Google spinoff that works with some of the most vulnerable Americans, built itself into a billion-dollar business. You'll find details about the next geographies Cityblock wants to get into, and a recap of what the startup shared at JPMorgan last week.
Over the past few weeks, Shelby has been speaking to bankers about what we could expect in 2021 as far as major mergers and acquisitions.
Three bankers shared with her a bullish picture of the year ahead for M&A and initial public offerings, especially when it comes to pharmaceutical companies.
It's coming off the heels of an already-busy deal year, with a number of mergers announced in the first few weeks of January.
Some of the team's reporting this week shined a light on some of the industry's thorniest problems.
Megan Hernbroth spoke to Carbon Health CEO Eren Bali about how the primary care and urgent care provider tried to build a tool to help estimate what patients would pay for a visit or test.
The tool, based on insurer data was wrong nearly half the time. It's a clear example of how challenging it can be to bring a popular idea (transparent prices) to healthcare.
Read the full story here>>
This week, Patricia Kelly Yeo reports on a startup that wants to drastically cut the price of medications that attracted the interest of "Shark Tank" investor Mark Cuban.
Read on to hear how the company got its start and how working with Cuban has helped jumpstart its efforts.
I'll leave you with a query from Blake that we'd be curious to get your thoughts on. She's been thinking about the way Big Tech funds its healthcare ventures, and whether it's working for them. Think it's working for them, or not? Let Blake know! You can email her at bdodge@businessinsider.com.
As always, please send tips, how you're staying busy this January, and any other thoughts you might have about this newsletter to me at lramsey@businessinsider.com. You can reach the entire healthcare team at healthcare@businessinsider.com.
- Lydia