Primary care network companies, like Oak Street Health, One Medical, and Skylight Health Group are just beginning to benefit from higher demand. Canaccord Genuity, as highlighted by Fierce Healthcare, notes, “Studies have shown the value of primary care through lower healthcare spending and improved health outcomes. But there has been an underinvestment in primary care in the U.S. compared to other developed countries.” Plus, “Given the vast size of the primary care market, it's no surprise that private equity and venture capital have rushed into the market.” That’s creating opportunity for Skylight Health Group Inc. (CSE:SHG)(OTCQB:CBIIF), Oak Street Health Inc. (NYSE:OSH), WELL Health Technologies Corp. (TSX:WELL)(OTC:WLYYF), UnitedHealth Group Inc. (NYSE:UNH), and CVS Health (NYSE:CVS).
Skylight Health Group Inc. (CSE:SHG)(OTCQB:CBIIF) BREAKING NEWS: Skylight Health Group Inc., one of the largest multi-specialty healthcare systems in the United States, is pleased to announce that it has received conditional approval to list its common shares on the TSX Venture Exchange and will concurrently delist its common shares from the Canadian Securities Exchange. "Graduating to the TSXV is yet another milestone achieved as we continue to execute our focused growth plan of becoming one of the largest US integrated healthcare systems," said Prad Sekar, CEO of Skylight Health. "We look forward to the TSXV providing us a larger platform for growth, institutional coverage and border liquidity as we continue to aggressively execute against our 2021 business plan." Skylight Health’s common shares continue to trade on the TSXV under symbol “SHG”.
Other related developments from around the markets include:
Oak Street Health Inc. (NYSE:OSH), a network of value-based primary care centers for adults on Medicare, is expanding access to more older adults in Ohio with the opening of its newest center at 3540 Reading Road in Cincinnati. The new center brings the number of Oak Street Health centers in Ohio to nine. “We are excited to expand access to our high-quality, value-based care to members of the Cincinnati community with the opening of this new center,” said Tamara Jurgenson, Chief Growth Officer of Oak Street Health.“We care for the most vulnerable patients, the majority having two or more chronic conditions. As our organization continues its mission to rebuild healthcare as it should be, we look forward to improving patient outcomes in Ohio and helping older adults live their healthiest lives.”
WELL Health Technologies Corp. (TSX:WELL)(OTC:WLYYF), a company focused on consolidating and modernizing clinical and digital assets within the healthcare sector, is pleased to announce it completed the acquisition of all the issued and outstanding shares of ExcelleMD Inc. and its affiliate VirtuelMED Inc. following the closing of the share purchase agreement dated December 8, 2020 with the shareholders of ExcelleMD and VirtuelMED. “ExcelleMD owns and operates a highly sophisticated multi-disciplinary network of clinics that has successfully integrated virtual care with its portfolio of high value services which includes primary care as well as corporate and executive health services,” said Hamed Shahbazi, WELL’s Chairman and CEO. “Québec is a large market opportunity for us and ExcelleMD is intended to be a foundational acquisition for WELL’s expansion into Eastern Canada and WELL’s entry into corporate and executive health services which we will look to expand nationwide.”
UnitedHealth Group Inc. (NYSE:UNH) and Eli Lilly announced a partnership to conduct a pragmatic study of bamlanivimab (LY-CoV555) in high-risk, CV infected individuals. Bamlanivimab recently received Emergency Use Authorization (EUA) by the U.S. Food and Drug Administration for the treatment of mild to moderate CV patients who are at high risk for progressing to severe CV and/or hospitalization. The trial will evaluate the efficacy and safety of bamlanivimab versus a propensity-matched control in individuals that meet the EUA criteria.
CVS Health (NYSE:CVS) announced it is supporting a nearly $3 million commitment to increasing access to flu vaccines for underserved communities throughout the country. Through its Project Health initiative, CVS Health is contributing $2 million to the National Association of Free and Charitable Clinics (NAFC) to help distribute flu vaccines to those who may otherwise not have access. Additionally, the company is working with Bank of America and General Motors to support increased access to flu vaccines in even more communities nationwide.
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