InnovationRx: Your Weekly Healthcare News Digest
Welcome to InnovationRx, your go-to source for the latest healthcare news. Be sure to subscribe here to receive it directly in your inbox. This week, HCA Healthcare, one of the largest health systems in the United States, reported a data breach that affected approximately 11 million patients. The breach involved hackers stealing 27 million rows of data from an external storage location. However, no malicious activity has been detected on HCA’s networks or systems. The stolen information includes patient names, addresses, birthdays, and appointments, but does not include specific healthcare conditions, treatment details, credit card information, or social security numbers. Affected patients will receive notification letters in the coming weeks.
A recent survey conducted by health data startup Health Gorilla revealed that 95% of U.S. patients expressed concerns about potential data breaches or leaks of their medical records. Of the 1,200 people surveyed, 42% stated that they were moderately concerned, 28% were extremely concerned, and 25% were slightly concerned about this issue.
We would like to extend our gratitude to Forbes HBCU Scholar India Rice for her valuable assistance in creating today’s newsletter.
Illumina Faces $476 Million Fine for Unapproved Acquisition
U.S. biotech firm Illumina has been slapped with a record-breaking antitrust fine of $476 million by the European Union for its failure to obtain regulatory approval for the acquisition of cancer-screening test company Grail. Both the European Commission and the U.S. Federal Trade Commission have ruled against the acquisition, citing potential harm to competition. Illumina is currently appealing these decisions.
Pipeline & Deal Updates
– Drug Discovery: Utah-based company Recursion Pharmaceuticals has secured a $50 million investment from chipmaker Nvidia. The funding will support the refinement of Recursion’s chemistry-based AI models for drug discovery.
– AI Research Center: New York-based hospital system Northwell Health has received a generous $10 million gift from Scott Rechler, CEO and chairman of real estate firm RXR, and his wife Debby. The donation will be used to establish a health outcomes research center focused on tackling health disparities using data and artificial intelligence.
– Primary Care Tech: Startup Fold Health has raised $6 million in funding led by Iron Pillar. The company offers software tools to assist primary care practices in entering into value-based care arrangements.
– MedTech: Paris-based medtech company Sonio has raised $14 million in a Series A funding round led by Cross Border Impact Ventures and the Elaia funds. Sonio is developing AI software to improve fetal ultrasounds, with plans to enter the U.S. market and adapt the technology for portable ultrasounds.
– Chronic Disease: Eureka Health, a platform for chronic disease patients to connect with each other and access the latest treatment information, has emerged from stealth with a $7 million seed funding round led by Khosla Ventures.
FDA Grants Full Approval for Alzheimer’s Drug with Concerns
The Food and Drug Administration (FDA) has granted full approval for lecanemab, an anti-Alzheimer’s drug developed by Biogen and Eisai. This marks the first drug of its kind that has been shown to slow the progression of Alzheimer’s Disease. However, experts have raised concerns about severe and potentially fatal side effects associated with the drug. Marketed as Leqembi, the drug costs $26,500 per year before insurance coverage.
Other Healthcare News
– The National Weather Service has issued extreme heat advisories for nearly 110 million Americans as record-breaking temperatures persist.
– The White House has announced a plan to address drug overdoses related to the animal tranquilizer xylazine.
– Norvo Nordisk’s weight loss and diabetes drugs, including Ozempic, Wegovy, and Saxenda, are under investigation by the European Union for possible links to suicidal ideation. The drug manufacturer denies any connection.
– CVS Health’s Caremark pharmacy benefit management division and drug discount app GoodRx have partnered to reduce out-of-pocket prescription costs for commercially insured customers.
In Other News
– Creators share their reactions to Threads, Meta’s new social app, likening it to Gen Z’s takeover of Twitter.
– The downfall of a $2 billion Smart Window company backed by SoftBank.
– The controversial origins of a magazine claiming to empower female founders, tied to a controversial church.
What We’re Reading
– STAT reports on internal dissent over denied care following UnitedHealth’s acquisition of a popular Medicare Advantage algorithm.
– KFF Health News investigates the scrutiny faced by nonprofit hospitals regarding their required charity spending.
– The Washington Post highlights the crisis of black maternal health across the hemisphere, not limited to the United States.
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Jessica Irvine is a tech enthusiast specializing in gadgets. From smart home devices to cutting-edge electronics, Jessica explores the world of consumer tech, offering readers comprehensive reviews, hands-on experiences, and expert insights into the coolest and most innovative gadgets on the market.
