July 12, 2021

Around the nation: 15 states agree to new terms in Purdue Pharma bankruptcy case

Daily Briefing

    Fifteen states on Wednesday agreed to new settlement terms in Purdue Pharma's bankruptcy case in today's bite-sized hospital and health industry news from Connecticut, Illinois, and Tennessee.

    • Connecticut: Fifteen states, including Massachusetts and New York, on Wednesday agreed to new terms in Purdue Pharma's bankruptcy reorganization plan. The company in 2019 declared bankruptcy to settle almost 3,000 opioid lawsuits from individuals, states, and other groups. The new terms increased the settlement from $3 billion to $4.5 billion, and funds from the settlement will be distributed to individual victims and their families, as well as different government entities, which will use the funds to address the opioid crisis. In addition, the new terms require Purdue Pharma to release around 33 million internal documents. Voting on the plan ends on July 14 and will go to a hearing in August to be certified. If certified, the company will likely be protected from additional opioid-related lawsuits. Currently, nine states and the District of Columbia still oppose the plan. (Mulvihill, Associated Press, 7/8; Hoffman, New York Times, 7/8)
    • Illinois: Walgreens Boots Alliance plans to capitalize on new opportunities in health care, with a focus on incorporating technology into its services, Forbes reports. The company's priorities include creating neighborhood health destinations, designing a more modern pharmacy, and enhancing digital options while reducing costs. CEO Rosalind Brewer said, "We must be laser-focused on the products and services that have the most potential end value that can be enabled with the most innovative technology, and that will be delivered at a level and quality that our customers expect." (Japsen, Forbes, 7/5; Mitchell, Becker's Hospital Review, 7/6)
    • Tennessee: West Tennessee Healthcare announced on Thursday that Scott Barber will be CEO of Dyersburg Hospital. Barber has served as interim CEO of the hospital since June 2020. He succeeds Reba Celsor, who left the hospital in May 2020 to work as CEO of Spring View Hospital in Kentucky. (Mitchell, Becker's Hospital Review, 7/8)

    Have a Question?

    x

    Ask our experts a question on any topic in health care by visiting our member portal, AskAdvisory.

    X
    Cookies help us improve your website experience. By using our website, you agree to our use of cookies.