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  • Seventeen Florida hospitals file lawsuit against UnitedHealthcare

    Seventeen Florida hospitals file lawsuit against UnitedHealthcare

    Several hospitals in the Sunshine State, including six in Central Florida, are suing UnitedHealthcare for underpaying for emergency services provided, according to court records.

    The suit alleges that the healthcare company failed to pay the amount required by Florida law for the services the hospitals offered.

    “United has unilaterally and consistently decided to underpay the Hospitals these claims at only a fraction of the billed charges, at amounts well below the level of payment required by Florida statute,” according to the lawsuit.

    In Central Florida, Osceola Regional Hospital, Central Florida Regional Hospital, Poinciana Medical Center, Marion Community Hospital, Oviedo Medical Center and UCF Lake Nona Hospital are listed on the suit along with 11 others in Florida. All of the hospitals listed in the suit are part of HCA Healthcare, Inc.

    According to court records, none of the claims involve Medicare Advantage or Managed Medicaid plans.

    “The claims at issue in this litigation involve only Affordable Care Act health insurance exchange products,” according to the suit.

    The hospitals named in the suit seek damages in the amount of the difference of what UnitedHealthcare paid for the emergency services and the usual provider charges for similar services in the community where they were provided.

    The hospitals named in the suit are:

    • Osceola Regional Hospital
    • Central Florida Regional Hospital
    • Poinciana Medical Center
    • Oviedo Medical Center
    • Marion Community Hospital
    • UCF Lake Nona Hospital
    • Putnam Community Medical Center of North
    • North Florida Regional Medical Center
    • Notami Hospitals of Florida
    • West Florida Regional Medical Center
    • Fort Walton Beach Medical
    • Tallahassee Medical Center
    • Okaloosa Hospital
    • Bay Hospital
    • Lawnwood Medical Center
    • Okeechobee Hospital
    • HCA Florida St. Lucie Hospital

    The suit continues, saying in part that even though the hospitals listed and UnitedHealthcare do not have a contract, the hospitals must still provide emergency services to any patients who seek care at their facilities.

    “Despite being excluded from United’s HIX plan network, the Hospitals provided emergency services and care to United HIX Members on more than 5,500 occasions from January 2022 through the present, and continue to do so on a daily or almost-daily basis.”

    According to the lawsuit, the hospitals allege that UnitedHealthcare’s strategy for paying for out-of-network providers is “motivated by its desire to maximize its own profits at the expense of the very hospitals that care for its Members.” ClickOrlando

  • Tiger Wound Care acquires Encore Surgical HealPACK Solutions

    Tiger Wound Care acquires Encore Surgical HealPACK Solutions

    Novo Health Care Service and Encore Surgical Supplies developed the HealPACK as an innovative surgical dressing solution that enhances the post-surgery healing process, delivered to the patient’s door for treatment in the comfort of the patient’s home. HealPACK is a convenience pack of premium line of surgical dressing products trusted by physicians nationwide. HealPACK comes with a specifically development HealPACK app that supports the prescription and insurance verification process needed to order the product. The app also assists with relevant documentation required for proper reimbursement of the dressings. Each physician-prescribed, patient-specific order is shipped directly to the patient, eliminating risks around the interruption of continued care, increasing patient’s wound care compliance, and saving physicians’ practice time and money.

    Miro Kesic, Encore’s CEO said, “In a short amount of time, we have become a market leader in empowering physicians to deliver post operative and conservative therapies for their patients. With a great team, advanced technology, and timely execution, Encore has delivered a superior platform to the market. This has resulted in the exponential growth and success of Encore Surgical.”

    Neall French, Encore’s President added, “The next phase in continuing to deliver constant innovation and enhancements, is to align the HealPACK with one the industry’s best, in Tiger BioSciences. Tiger has an exceptional leadership team, impressive portfolio of companies, and a relentless mission in delivering superior clinical outcomes for patients.”

    “The HealPACK and HealAPP is a fantastic addition to Tiger’s already impressive Wound Care product offering. Encore Surgical Dressing, LLC will be a new division of Tiger BioSciences that will have access to our vast network of customers in the orthopedic, podiatry as well as plastic surgery divisions. We are looking forward to the continuation of collaboration with Miro’s and Nealls’s team to ensure that more patients can benefit from our overall product offering,” said Oliver Burckhardt, Co-CEO of Tiger BioSciences.
    NewsBit Bureau

  • Dexcom beat Q4 sales estimates helped by resilient demand for its CGMs

    Dexcom beat Q4 sales estimates helped by resilient demand for its CGMs

    Medical device maker Dexcom beat fourth-quarter sales estimates helped by resilient demand for its continuous glucose monitors (CGMs) used by patients with diabetes.

    Dexcom’s shares fell nearly 37per cent last year, largely due to a slump in July after the company slashed its annual revenue forecast, blaming a restructuring of its sales team, fewer customers and lower revenue.

    In July, the company said that based on the compounding effect of lower second-quarter new customer starts, it expects the growth rate in the back half of the year to be impacted.

    It reiterated its previous 2025 revenue estimate of $4.60 billion. Analysts on average were expecting revenue of $4.61 billion, as per data compiled by LSEG.

    The company reported fourth-quarter revenue of $1.11 billion slightly above the analysts’ consensus estimate of $1.10 billion.

    The California-based device maker is pinning its hopes on Stelo, its recently launched device for adults aged 18 and older who do not use insulin, making it the first CGM available for over-the-counter sales.

    Increasing diabetes care awareness, wider insurance coverage, and preference for devices that do not need finger pricks have benefited CGMs such as Dexcom’s Stelo and G7. Rival Abbott launched its own OTC CGM, Lingo, weeks after Dexcom’s Stelo debut.

    The company is counting on further international expansion to drive growth after it said it had improved access to its devices in markets such as Japan and France last quarter.

    On an adjusted basis, the company earned a profit of 45 cents per share, compared to estimates of 50 cents per share. Reuters

  • KKR to acquire 51% stake in Healthcare Global Enterprises 

    KKR to acquire 51% stake in Healthcare Global Enterprises 

    Investment firm KKR is set to acquire a controlling 51% stake in Bengaluru-based cancer care hospital chain Healthcare Global Enterprises (HCG) from private equity firm CVC Capital Partners.

    The move underscores KKR’s growing focus on India’s expanding healthcare sector, which has witnessed significant private equity-led consolidation in recent years.

    Deal Details and Valuation
    Following the purchase, KKR will initiate a mandatory open offer for an additional 26% stake. If successful, KKR’s total ownership in HCG will rise to 77%.

    The definitive agreements are expected to be signed in the coming days.

    Ownership Structure Post-Transaction
    Despite the change in control, HCG’s founding family, led by Dr. BS Ajaikumar, will retain a 10.87% stake in the company. However, Dr. Ajaikumar will transition from his role as Executive Chairman to a non-executive position, where he will focus on research and development initiatives.

    CVC Capital Partners, currently holding 60.36% of HCG, will reduce its stake to nine percent after the transaction.

    CVC initially acquired its majority share in June 2020, investing approximately ₹1,049 crore through a combination of new shares and convertible warrants. It later increased its stake through a mandatory open offer.

    KKR’s Renewed Focus on Healthcare
    The acquisition signals KKR’s strategic push into India’s healthcare sector. Previously, the firm exited Max Healthcare in one of its most profitable deals in India.

    However, in 2024, KKR re-entered the market by acquiring Baby Memorial Hospital, demonstrating its commitment to specialty hospitals and healthcare services.

    India’s cancer care industry is growing at a compound annual growth rate (CAGR) of 17%, with HCG expanding even faster due to its aggressive growth strategy. KKR and CVC Capital Partners began bilateral negotiations in October 2024, drawing interest from several global private equity firms, including Bain Capital.

    However, KKR ultimately secured the deal after months of discussions. Leading investment banks Goldman Sachs, JP Morgan, Allegro, and Ambit are advising on the transaction.

    HCG’s Expansion and Growth Strategy
    Founded in 2005, HCG operates 21 comprehensive cancer centers, three multispecialty hospitals across India, and an international facility in Kenya.

    The company faced financial difficulties during the COVID-19 pandemic due to debt-financed expansion and disruptions in cancer care services. However, it has since improved operational efficiency and pursued strategic growth initiatives.

    In late 2024, HCG acquired MG Hospital in Vizag, a 196-bed facility with a strong 35% operating margin. Additionally, the company launched a 200-bed cancer care center in Ahmedabad. It is also expanding its North Bengaluru facility by 125 beds.

    As reported by digitalhealthnews.com, HCG has plans to expand its capacity by adding 900 more beds over the next four to five years. This move aims to meet the rising demand for specialized cancer care. Chemindigest

  • Niti Aayog calls for expanding skilling initiatives beyond traditional medical education

    Niti Aayog calls for expanding skilling initiatives beyond traditional medical education

    Niti Aayog Member V K Paul on Saturday emphasized the need to expand skilling initiatives beyond traditional medical education, balancing quality with quantity.

    India’s care sector is at a crucial juncture, requiring a strengthened workforce to meet both national and global demands, a statement said.

    In a summit – Transforming the future of the skilled workforce in the care sector ‘organised by NSDC International here, Paul emphasized the need to expand skilling initiatives beyond traditional medical education, balancing quality with quantity, the statement said.

    NSDC International is a wholly-owned subsidiary of National Skill Development Corporation (NSDC).

    Talking about skilling initiatives, Paul said that the NSDC International is playing a pivotal role in this effort, ensuring care professionals trained in India are globally employable.

    He highlighted the importance of evolving curriculum, strengthening regulatory frameworks, and scaling up skill-based training programmes to address workforce shortages, including in specialized areas such as geriatric care.

    “The private sector collaboration is essential to bridge the skill gap. With structured policies and strong industry-academia partnerships, India can enhance its healthcare skilling ecosystem and emerge as a key contributor to the global workforce.”

    The summit witnessed participation of vice chancellors from 50 institutions and around dozen AIIMS chief working towards a stronger healthcare ecosystem, the statement said.

    Paul further said, “India’s healthcare workforce is a critical asset to both the nation and the world. With increasing global demand for skilled professionals, structured skilling initiatives play a pivotal role in equipping our workforce with the expertise required to meet international standards.

    “India, with its young and skilled workforce, has the potential to bridge this gap. At NSDC International, we are committed to developing a globally competent caregiver workforce by aligning skilling programmes with international accreditation, streamlining certification processes, and integrating cultural adaptability training”. PTI

  • CII hails PM Modi’s US visit as milestone for strengthening trade, investment

    CII hails PM Modi’s US visit as milestone for strengthening trade, investment

    Prime Minister Narendra Modi’s visit to the US is a major milestone that will strengthen bilateral trade, investment, defence, and technology partnerships, industry body CII said on Saturday.

    Welcoming the recently concluded visit, the Confederation of Indian Industry (CII) said it eyes stronger trade and tech ties.

    CII noted that the wide-ranging joint statement and initiatives announced during the visit under the framework of US-India COMPACT have set a clear forward-looking agenda for India-US relations, creating new opportunities for Indian industry and economic growth.

    “A new chapter has been added to the India-US partnership, enabling much stronger collaboration in strategic sectors including defence, energy, semiconductors, space and emerging technologies like artificial intelligence (AI), quantum computing, advanced materials, and biotechnology.

    “This creates an environment for the private sector on both sides to flourish in true partnership. The visit is especially significant as it will boost manufacturing in India, attract increased foreign direct investment and create jobs,” said Chandrajit Banerjee, Director General, CII.

    Prime Minister Narendra Modi’s discussions with President Trump strongly reaffirmed a commitment to expand trade and investment between the two countries, it stated.

    CII welcomed the decision to work on the first phase of a bilateral trade agreement to reduce trade barriers and streamline regulatory processes, laying a strong foundation for increasing two-way trade.

    It also expects that easier market access and regulatory harmonization will emerge from the proposed bilateral trade agreement dialogues, helping Indian products and services find greater foothold in the US market and vice versa.

    The target of USD 500 billion in trade by 2030 promises to give a huge boost to exports of labour-intensive goods from India and industrial goods from the US, offering many new opportunities for Indian industry, said CII.

    A critical area of partnership that featured in the discussion was around energy that is set to establish long term links as India strives to diversify its energy sourcing.

    Given India’s ambitious net zero targets, the US with its vast gas reserves can play the role of a steady supplier to meet India’s energy demands, noted the industry body.

    The discussion around nuclear reactors, coming close on the heels of India’s recently announced nuclear energy targets of 100 GW by 2047, has laid the foundation for technology collaboration and new fossil-free fuel options, it said.

    Defence cooperation emerged as a prominent pillar of the visit, reinforcing the India-U.S. strategic partnership through expanded technology transfers, joint production, and industrial collaboration.

    The industry body noted that the visit’s positive trajectory aligns with India’s broader economic goals. Stronger bilateral ties in trade and technology will fuel economic growth, boost export competitiveness and bring in capital and expertise to critical sectors. Money.Rediff

  • Michael Burry cuts China tech bets before $1.3T AI rally

    Michael Burry cuts China tech bets before $1.3T AI rally

    Michael Burry rolled back on some of his investments in Chinese tech stocks just before DeepSeek’s breakthrough in artificial intelligence reignited a $1.3 trillion rally in the country’s shares.

    The hedge fund manager, famous for his 2008 bet against the US housing market, trimmed his exposure in JD.com and Alibaba Group Holding Ltd. as of the end of last year, according to 13F regulatory filings on Friday.

    Scion Asset Management, Burry’s investment firm, cut its holdings of JD.com by 40% to 300,000 shares during the fourth quarter. Its stake in Alibaba also decreased by 25% during the same period. Despite this reallocation, JD.com and Alibaba, together with Baidu Inc., were still a part of Scion’s top holdings.

    The moves came amid a volatile stretch for Chinese stocks, when investors showed signs of wavering commitment after Beijing rolled out a stimulus blitz in late September. The government’s efforts sparked a frenetic rally into early October, but the momentum faded in the following months amid disappointment over the scale of fiscal stimulus, a weak economic outlook and a property crisis. Alibaba’s US-listed shares fell 20% in the fourth quarter, while JD.com declined 13%.

    Scion didn’t cut its stake in all of its China investments. It started a new position on PDD Holdings Inc., a rival of Alibaba in China’s e-commerce sector, with 75,000 shares. The firm’s holdings in Baidu Inc. remained unchanged.

    This investment was worth $40.9 million as of Dec. 31, representing 53% of Scion’s total equity holdings, data show. That was a reduction from about 65% in the previous three months.

    The bearish options bought by Scion in the third quarter that would provide downside protection were no longer in place as of Dec. 31, according to the filing.

    China’s market has been on a stronger footing to start the year, with some of equity benchmarks outperforming US and European peers. That’s in part because of China’s growing clout in artificial-intelligence, on the back of the success of DeepSeek’s AI model.

    As a result, investors have been re-evaluating the nation’s beaten-down shares, although they’re also assessing the impact of US President Donald Trump’s move to slap 10% tariffs on China. Its equity market has added more than $1.3 trillion in total value in just the past month amid such reallocations. The MSCI China Index is on track to outperform its Indian counterpart for a third-straight month, the longest such streak in two years. Shares of Alibaba and JD.com have gained 47% and 19% respectively this year, while those of PDD and Baidu climbed 28% and 16%.

    Burry has been one of the few prominent China stock bulls among hedge fund investors, along with Appaloosa Management’s David Tepper, even before Beijing’s major policy shift in September. The latter, a billionaire investor, ramped up his stake in China-related stocks and exchange-traded funds last quarter. Bloomberg

  • Etihad, EdgeNext partner to enhancet Saudi telecom

    Etihad, EdgeNext partner to enhancet Saudi telecom

    Etihad Salam Telecom Company, announced a partnership with EdgeNext at LEAP 2025. The collaboration aims to enhance the competitive telecommunications environment in Saudi Arabia, aligning with Saudi Vision 2023 and the objectives outlined by the Ministry of Communication and Information Technology (MCIT).

    The partnership focuses on several key initiatives aimed at strengthening EdgeNext’s service delivery and network capabilities within the region. Starting with a cornerstone agreement involves EdgeNext collocating their servers in Etihad Salam Telecom Company’s state-of-the-art data centers, enjoying competitive colocation and special internet access . This setting provides EdgeNext with secure, reliable physical infrastructure, enabling them to leverage Etihad Salam Telecom Company’s facilities for optimum service performance and scalability.

    Amjad Arab, Chief Wholesale and Partnerships Officer at Etihad Salam Telecom Company, said: “Our partnership with EdgeNext embodies our dedication to not just meeting, but exceeding the digital needs of our society. Through this collaboration, we are setting new benchmarks for connectivity and innovation in the realm of telecommunications and content localization.”

    Further consolidating the partnership, EdgeNext will procure internet services directly from Etihad Salam Telecom Company, ensuring access to robust and high-speed internet connectivity essential for their operations. Additionally, Etihad Salam Telecom Company will facilitate EdgeNext’s peering connection with the Saudi Internet Exchange, significantly enhancing their network interconnectivity and access within the local digital ecosystem.

    Dajiang Li, General Manager at EdgeNext said: “Joining forces with Etihad Salam Telecom Company accelerates our mission to deliver unparalleled content experiences to our customers. This is a testament to our commitment to leveraging leading-edge technology to enhance our service delivery and network efficiency.”

    This collaboration underscores Etihad Salam Telecom Company’s role as a service provider and a crucial enabler in the telecommunications sector, contributing significantly to the broader objectives of Saudi Arabia’s digital transformation strategy. Zawya

  • Tier 2 & 3 cities gain from remote IT boom, experts urge investment

    Tier 2 & 3 cities gain from remote IT boom, experts urge investment

    With remote IT work expanding opportunities for professionals in Tier 2 & 3 cities, experts have called for investment in digital infrastructure and upskilling to connect talent with global projects.

    Experts have also hailed the government’s move to set up five National Centres of Excellence for Skilling as a strategic move to align youths’ capabilities with the demands of both domestic and international markets.

    Atul Soneja, Chief Operating Officer, Tech Mahindra, said, “The rise of remote IT work has notably expanded opportunities for professionals in Tier 2 and Tier 3 cities. This shift provides earning potential and promotes inclusive growth.”

    To fully harness this opportunity, it is imperative to invest in robust digital infrastructure, offer continuous skill development programmes, and create platforms connecting talent from these regions with global projects, Soneja said.

    Ganesh Gopalan, Co-founder & CEO, Gnani.ai said that to fully tap talent in small cities, investments in digital infrastructure, reliable internet, and upskilling programmes are crucial. thehindubusinessline

    Strengthening work policies, cybersecurity frameworks, and industry collaborations will further enable professionals in smaller cities to compete globally and drive India’s IT growth, Gopalan said.

    Pawan Gupta, the CTO at SkillsCapital, said his company is connecting professionals with international opportunities through an AI-Powered Talent Cloud platform which was launched in April 2024.

    “Our goal is to not only meet the growing global demand for enterprise software and tech talent but also to elevate India’s Tier 2 and Tier 3 cities as key players in the global tech ecosystem.

    “By empowering professionals in Tier 2 and Tier 3 cities, we are fostering inclusive growth and positioning India as the SkillsCapital of the world,” Gupta said.

    SkillsCapital is enabling individuals to work on high-impact global projects while remaining in their hometowns, he said, adding that this transformation is not only driving career growth but also fostering economic development in these regions.

    “The growing availability of IT projects in Tier 2 and 3 cities is expanding earning potential, providing global opportunities without relocation, improving work-life balance, and boosting local economies,” said Ganesh Gopalan of Gnani.ai.

    IT professionals benefit from diverse opportunities, higher incomes, and skill development through exposure to international standards, Gopalan added.

    On the Rs 500-crore Centre of Excellence for AI in Education announced in the Budget, Gopalan said that the AI fund can help equip IT professionals with new skill sets by supporting training programmes and certifications.

    “By investing in upskilling initiatives, the fund can bridge skill gaps, making professionals in Tier 2 and 3 cities more competitive in the global job market,” he said.

    Soneja of Tech Mahindra said, “By integrating AI into education, we can enhance learning experiences, personalize educational content, and better prepare students for the evolving demands of the job market, thereby addressing the talent gap in the tech industry.”

    “The recently proposed Union Budget 2025-2026 underscores a transformative vision for India’s workforce and technological landscape,” Soneja said. The Hindu BusinessLine

  • GCC policy 2025 to position MP as a digital hub

    GCC policy 2025 to position MP as a digital hub

    Madhya Pradesh Chief Minister Mohan Yadav has stated that the state’s new Global Capability Centre (GCC) Policy 2025 is a significant step towards attracting multinational companies and establishing Madhya Pradesh as a digital and technological hub.

    This policy will prove to be a milestone in accelerating Prime Minister Narendra Modi’s vision of Atmanirbhar Bharat and Digital India, he said.

    The Global Investors Summit-2025, to be held in Bhopal, will provide the largest platform to present this policy at the global level. Prime Minister Narendra Modi will inaugurate the summit on February 24, which will further strengthen the investment landscape of Madhya Pradesh.

    At the summit, the Chief Minister will present this policy to investors, entrepreneurs, and policymakers from around the world, aiming to elevate the state to new heights in the GCC sector.

    This summit is expected to bring in a large number of investment proposals for GCCs, transforming the state’s economic landscape.

    Global Capability Centers (GCCs) are centres established by international companies in countries other than their headquarters. Their purpose is to streamline global operations and leverage advanced technologies.

    These centres offer services like software development, artificial intelligence, cloud computing, data analytics, financial services, research and development, supply chain management, and customer support.

    India has in recent times become the world’s largest GCC hub, with over 1600 GCCs operational. Madhya Pradesh is fully prepared to rapidly increase its share in this sector.

    The policy is focused on attracting investments in areas like IT, finance, engineering, and business process outsourcing, with the potential to completely transform the state’s industrial landscape.

    Thanks to Yadav’s efforts, Madhya Pradesh has emerged as one of the country’s most promising investment destinations, a state government press statement said.

    Under his leadership, there have been continuous efforts to improve ease of doing business, develop IT infrastructure, and attract investors. The state government has appointed the Madhya Pradesh State Electronics Development Corporation Limited (MPSeDC) as the nodal agency for implementing this policy, which will provide all possible assistance to companies.

    To facilitate the rapid establishment of GCCs in the state, a special Policy Implementation Unit (PIU) is being created to oversee incentives allocation, project approvals, and compliance monitoring. This will ensure that investors receive timely support, enabling them to start their projects quickly in the state.

    Madhya Pradesh offers a favourable environment for GCCs. Over the past three years, the state’s IT/ITES exports have tripled, with an annual growth rate of 43 per cent. Cities like Indore, Bhopal, and Jabalpur are quickly developing as hubs for IT and ESDM (Electronics System Design and Manufacturing).

    The state has over 300 engineering colleges, producing more than 50,000 technology graduates annually. Cost-effective business operations, state-of-the-art technology parks, special economic zones (SEZs), and simplified regulatory processes make this policy even more effective.

    Madhya Pradesh ranks fourth in the Ease of Doing Business index, demonstrating a favourable environment for investors.

    Madhya Pradesh’s GCC Policy 2025 is a transformative initiative that will play a key role in helping India achieve its target of a 110 billion-dollar GCC market by 2030. Focused on innovation, infrastructure, and incentives, this policy will position the state as a leading destination for global companies to establish and expand their GCC operations.

    The upcoming Global Investors Summit-2025 will be the largest platform to present this initiative to international investors, and Madhya Pradesh is expected to receive historic investment proposals. The presence of Prime Minister Narendra Modi will further enhance the significance of this event.

    The implementation of this policy will usher Madhya Pradesh into a new era of innovation, technology, and job creation, offering global-level employment opportunities for the state’s youth and giving a new impetus to the state’s economy. PTI