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August 14, 2018

Around the nation: UnitedHealth Group eyes Genoa Healthcare specialty pharmacy, Axios reports

Daily Briefing

    Advent International has reportedly held talks with potential buyers about selling pharmacy company Genoa Healthcare, which could be worth about $2.5 billion at sale, in today's bite-sized hospital and health industry news from Florida, Massachusetts, and Tennessee.

    • Florida: Joe DiMaggio Children's Hospital has named Caitlin Beck Stella as CEO. Stella has previously served as the chief administrative officer for UCLA Mattel Children's Hospital & Women's Health and as a health care industry consultant for PricewaterhouseCoopers. She succeeds Chantal Leconte, who has retired (Bandell, South Florida Business Journal, 8/8).

    • Massachusetts/Minnesota/Washington: UnitedHealth Group has reached a tentative agreement with Advent International to buy Genoa Health, a specialty pharmacy operator, according to sources familiar with the deal, Axios reports. Bloomberg in a separate report did not name UnitedHealth Group as a buyer but said Genoa's sale price could hover around $2.5 billion. Walgreens Boots Alliance has also shown interest in buying Genoa, according to Bloomberg (The Daily Briefing is published by Advisory Board Research, a wholly owned subsidiary of UnitedHealth Group.) (Primack, Axios, 8/8; Ostuni, Twin Cities Business, 8/9; Porter et al., Bloomberg, 8/7).

    • Tennessee: At least 74 people in Nashville have contracted hepatitis A since last December, Tennessee health officials said last week. Officials are urging the public to get vaccinated against the disease to stop its spread and are offering no-cost vaccinations for at-risk groups at three public health centers (AP/Sacramento Bee, 8/10).

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