• Massachusetts: Athenahealth has named Tom Cowhey as its CFO, effective June 9. Previously, Cowhey was an EVP and CFO at CVS Health and held leadership positions at Aetna before the insurer was acquired by CVS. Cowhey was also CFO at Surgery Partners, an ambulatory surgical care firm. Cowhey replaces John Hofmann, who was Athenahealth's CFO since 2022. Hofmann stepped down from the position late last year, and Athenahealth has worked with an interim CFO while it searched for a permanent successor. "Tom Cowhey brings a broad industry perspective, a deep understanding of the ambulatory care landscape, and first-hand knowledge of the value and impact of the athenahealth platform," said Bob Segert, Athenahealth chair and CEO. "His ability to integrate the customer perspective into his work will make him an ideal addition to our executive team, and his expertise managing key stakeholders will ensure the market understands our vision, strategy, and execution across athenahealth's lines of business." (Olsen, Healthcare Dive, 5/28; Athenahealth press release, 5/27)
• Missouri: Abortion is once again banned in Missouri after the Missouri Supreme Court overturned two lower court rulings blocking the ban. Last November, Missourians passed a ballot measure to enshrine the right to an abortion until around 24 weeks of pregnancy, which allowed Planned Parenthood to file a lawsuit challenging the state's abortion ban. In December, Judge Jerri Zhang ruled that the abortion ban violated the state's constitution, and in February, Zhang ruled that licensing requirements were discriminatory and allowed Planned Parenthood to provide abortion care again. However, the state Supreme Court ruled that Zhang used the wrong standard in her rulings. Zhang was ordered to vacate her previous injunctions against the abortion ban and reevaluate her rulings using the court's standards. According to the American Civil Liberties Union of Missouri, the state Supreme Court ruling was only a "temporary setback," and Zhang could potentially issue another injunction blocking the state's abortion ban in the future. (O'Connell-Domenech, The Hill, 5/28)
• New Jersey: Sanofi has agreed to buy Blueprint Medicines for up to $9.5 billion, making it the company's third large deal of the year after Dren Bio and Vigil Neuroscience. Under the deal, Sanofi will gain ownership of Ayvakit, a drug approved in the United States and the European Union to treat a rare immunology disease called systemic mastocytosis, as well as an early-stage immunology pipeline. Recently, Sanofi has been working on refreshening its portfolio after some of its internal development programs received disappointing clinical trial results. According to company executives, more acquisitions are expected to come. "Sanofi still retains a sizeable capacity for further acquisitions," said CEO Paul Hudson. (Calatayud, Wall Street Journal, 6/2)

The past few years of mergers and acquisitions (M&A) have seemingly created a new dichotomy for hospital and health system leaders: Either merge or risk losing market relevance. But is M&A really an answer to today's health care challenges? Here are three ways the evidence often doesn't live up to the hype.