Integra LifeSciences sees 34% drop in Q2 revenue due to pandemic disruptions

On a preliminary basis, Integra LifeSciences (NASDAQ:IART) expects Q2 revenues of $254M – 256M, down ~34% from a year ago. On a more positive note, average daily sales in June were only down ~15% on the resumption of non-emergency surgical procedures and easing of shelter-in-place rules.

Management will update investors again during its Q2 earnings call on Monday, August 10, after the close.

https://seekingalpha.com/news/3590049-integra-lifesciences-sees-34-drop-in-q2-revenue-due-to-pandemic-disruptions

Ziopharm launches early-stage study of CAR-T therapy in certain blood cancers

Ziopharm Oncology (NASDAQ:ZIOP) initiates a 24-subject Phase 1 clinical trial evaluating CD19-specific CAR-T cells in patients with relapsed CD19-positive leukemias and lymphomas.

In the study, the company will use its non-viral Sleeping Beauty genetic engineering technology to infuse the CAR-T the day after electroporation.

The primary objective is safety. Secondary endpoints include safety measures.

The estimated completion date is November 2021.

https://seekingalpha.com/news/3590057-ziopharm-launches-early-stage-study-of-car-t-therapy-in-certain-blood-cancers

Walmart launching insurance agency in Dallas with focus on Medicare

Walmart’s latest step into healthcare will have the retail giant operating an insurance agency.

Job listings show the company has quietly formed Walmart Insurance Service, LLC., focusing initially in the Dallas-Fort Worth market. The listings indicate that the initial focus will be on selling Medicare plans, though it’s unclear if that means Medicare Advantage plans, Medicare supplemental plans or both.

Walmart spokesperson Marilee McInnis confirmed the news in a statement to Fierce Healthcare, saying the company is “expanding our current insurance services to now include the sale of insurance policies to our customers.”

“We’re always looking for ways to help our customers save money and live better, and insurance services is one another way we do that,” McInnis said. “We currently offer access to insurance information in our Walmart Health locations, and we have a long-standing education program called Healthcare Begins Here to help people find the right insurance plan for them.”

The listings say Walmart is intending to hire several Medicare insurance agents to begin working in August. There is also a listing for a sales trainer for the business.

“Yes, you read that right, Walmart now has an insurance agency,” the listing reads. “Walmart strives to be a center of wellbeing in the communities we serve, and we have a unique, brand-new opportunity to help millions of people find the best Medicare insurance available. We need passionate health insurance professionals to help us build this new business from the ground up and achieve our mission.”

Walmart has made a number of strides into the healthcare market of late, notably opening a series of new clinics in Georgia that aim to lower the cost of care and provide a slew of services in a convenient location.

The Walmart Health clinics host primary care, dental care, vision care and psychiatric care alongside health education and wellness programs. Patients are charged a flat fee for services regardless of if they have health coverage.

Other big names in the healthcare space are aiming to meet members where they are to enroll them in Medicare plans. UnitedHealthcare, for instance, has partnered with Walgreens to offer Medicare service centers in some of the pharmacy chain’s stores.

https://www.fiercehealthcare.com/payer/walmart-launching-insurance-agency-dallas-focus-medicare

Cleveland Clinic opens Fla. research unit for cancer, infectious diseases, COVID-19

Cleveland Clinic Florida opened a new research and innovation center focused on, among other things, research of infectious diseases such as COVID-19 and the immune system response.

The 107,000-square-foot Florida Research and Innovation Center (FRIC) officially opened July 1 in a facility previously occupied by the Vaccine and Gene Therapy Institute. Cleveland Clinic took occupancy of the three-story building last fall.

The facility features laboratory space with biosafety and three facilities for work with infectious agents as well as office space for support services.

The center will be recruiting researchers and launching scientific programs to address both local and global health challenges, including cancer and infectious diseases, through 2020.

The center will be closely integrated with Cleveland Clinic’s Center for Global and Emerging Pathogens Research, established in April to broaden understanding of emerging pathogens—ranging from the Zika virus to SARS-CoV-2 (which causes COVID-19)—and to expedite critically needed treatments and vaccines. Researchers will also collaborate with drug developers at Lerner Research Institute’s Center for Therapeutics Discovery, which has 190 laboratories on Cleveland Clinic’s main campus in Ohio.

Officials did not disclose how many researchers they are looking to recruit for FRIC nor how much is being spent to fund the center. They said it is being supported in part by philanthropic dollars.

The center will be led by Scientific Director Michaela Gack, Ph.D., who joined Cleveland Clinic Florida this month. She was previously a professor in the Department of Microbiology and chairwoman of the Committee on Microbiology at The University of Chicago and is a virologist whose research has focused on the immune system’s response to viruses, an essential step in developing safe and effective antivirals and vaccines.

“We are pleased to be moving forward with our vision to create a world-class research program in Florida,” said Joseph Iannotti, M.D., Ph.D., interim CEO and president of Cleveland Clinic Florida and chief academic and innovation officer. “We are confident that the collaboration between our scientists and partners will ultimately result in the development of therapies that address some of the most challenging medical conditions we face.”

https://www.fiercehealthcare.com/hospitals/cleveland-clinic-opens-research-center-florida

12 states hit 7-day COVID highs; Fauci says some should consider shutdown

Twelve states, including California and Florida, hit highs on a seven-day moving average of new COVID-19 cases, according CNBC analysis of Johns Hopkins data.

California has 7,697 new cases based the average, up 26% from a week ago. Florida has 9,255, up nearly 30%. There was also an 18.4% spike in percentage of positive cases in Florida Wednesday.

States with surges in COVID cases should “seriously” think about a shutdown, says White House health adviser Anthony Fauci, but it’s not up to him to say which.

“What we are seeing is exponential growth. It went from an average of about 20,000 to 40,000 and 50,000. That’s doubling. If you continue doubling, two times 50 is 100,” Fauci, director of the National Institute of Allergy and Infectious Diseases, tells a Wall Street Journal podcast. “Any state that is having a serious problem, that state should seriously look at shutting down. It’s not for me to say because each state is different.”

Stocks are lower, but recovered through afternoon trading some from midmorning lows. The S&P is off 0.9%.

https://seekingalpha.com/news/3589991-12-states-hit-7-day-covid-highs-fauci-says-should-consider-shutdown

Mass. cuts $55M contact tracing effort amid complaints of dysfunction

Massachusetts was among the first states in the nation to launch contact tracing efforts, but now is reducing efforts after problems plagued the efforts, according to The Boston Globe.

The state has a $55 million contract with Partners in Health to track the coronavirus and hired hundreds of contact tracers, but many were recently laid off due to less work than anticipated. Cities and towns have expressed frustration with the contact tracing initiative, with some ending efforts all together.

Gov. Charlie Baker said the initiative was downscaling because the COVID-19 positive rate has held steady and the number of people who needed to be contacted has dropped significantly since its apex. The governor said there were around 1,900 trained contact tracers in the program, but the workforce declined to 1,200 in mid-June. Now, it employs 700 people.

The state initiative was launched to support local contact tracing efforts, but local health department leaders said the system suffered from computer glitches as well as lack of communication and training. As a result, there were delays in contacting individuals with COVID-19.

In some cases, it took more than three days for Partners to contact the person who tested positive for COVID-19 to learn about who they had come in contact with.

“I gave up on [the collaborative] because it’s more pain than it’s worth,” Wil van Dinter, the public health nurse for Watertown, Mass., told The Globe. He also said Partners sent back challenging cases several days after the individual tested positive for COVID-19 and was in the Massachusetts computer database.

Through individual efforts, Mr. van Dinter also found a higher average rate of people in contact with individuals who have COVID-19 than Partners reported. The state has a $39 million contract with Accenture and Salesforce to develop and manage the collaboration’s software, according to the report.

https://www.beckershospitalreview.com/healthcare-information-technology/massachusetts-reduces-55m-contact-tracing-collaboration-amid-complaints-of-dysfunction.html

Where are 7 digital health ‘unicorns’? IPOs, bankruptcies, layoffs and more

While digital health investments and venture funding has soared in recent years, not all ‘unicorn’ companies have maintained continued growth.

In 2018, the digital health space saw seven ‘unicorn’ companies, or private companies valued at more than $1 billion. Here’s an update on these seven startups and their valuations as of July 2020, according to CB Insights.

1. Peloton. Valued at $4.1 billion in 2018, the connected indoor fitness cycles company filed an IPO in September 2019 at a market value of $7.2 billion, according to CNBC.

2. 23andMe. Valued at $2.5 billion in 2018, the consumer DNA testing company is still valued at the same amount. In January, the company laid off 14 percent of its staff due to declining sales.

3. Tempus. Valued at $2.5 billion in 2018, the artificial intelligence-powered precision medicine therapy startup has grown its valuation to $5 billion and has partnered with health systems including Geisinger and Cleveland Clinic.

4. Zocdoc. Valued at $2 billion in 2018, the online scheduling appointment platform’s valuation has since dropped to $1.8 billion. In January 2019, Zocdoc replaced its subscription model with a per-booking fee in an attempt to break into less-populated regions where providers don’t see enough patients to justify paying a flat fee.

5. HeartFlow. Valued at $1.5 billion in 2018, the coronary artery disease detection startup is still valued at the same amount. The company’s non-invasive technology uses deep learning to analyze patients’ coronary CT angiograms to help clinicians diagnose and treat CAD.

6. Proteus. Valued at $1.5 billion in 2018, the ingestible and wearable sensor developer maintains the same valuation but filed for Chapter 11 bankruptcy June 15. The company, which creates sensors to detect when medications are taken, has struggled to raise money in recent months and has initiated a sale process.

7. Butterfly Network. Valued at $1.2 billion in 2018, the AI ultrasound app is still valued at the same amount. In May, Butterfly partnered with Atrium Health to implement its new point-of-care ultrasound device across 30 of the Charlotte, N.C.-based health system’s locations.

https://www.beckershospitalreview.com/digital-transformation/where-are-these-7-digital-health-unicorns-now-ipos-bankruptcies-layoffs-and-more.html