CommonSpirit Health CEO: Some providers will be commodities

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Top Story CommonSpirit Health CEO at JPM: Some providers will be commodities In an interview with MedCity News after his presentation at the J.P. Morgan Healthcare Conference, Wright Lassiter III said while some providers will be considered commodities, his vision for CommonSpirit Health is not to be "at the bottom of the totem pole." Have You Submitted Your Application? INVEST 2023 Pitch Perfect Applications    There is no fee to apply. Only companies funded from 2018-2022 (no more than five years ago), and that have raised a seed funding round will be considered. Startups can apply to only one track. Startups must be registered for the conference in order to participate in the pitch contest. There are five tracks and each track will feature six finalists. Application Deadline: January 30, 2023. Applications will be reviewed by investment professionals and selections announced on Feb. 21, 2023.   Apply Now!

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CVS Invests $25M in Virtual Mental Health Clinic CVS Health invested $25 million in Array Behavioral Care, a provider of virtual mental health care. Last year, Array's clinicians had more than 400,000 encounters with patients. Neurocrine Commits $175M to Voyager in New Neuro Gene Therapy Alliance Neurocrine Biosciences is paying $175 million up front for rights to a preclinical Voyager Therapeutics gene therapy that could put the biotech in competition with Eli Lilly among other companies. Voyager could earn up to $1.5 billion in milestone payments. NourishedRx Launches Food Benefits Platform Powered by Google Cloud NourishedRx is a food-as-medicine company that offers dietary assistance for health plans' members through methods like medically-tailored meals, grocery support and diet education. Through the new platform, NourishedRx is able to communicate with its food partners, health plan customers and members. 4 Trends to Watch in 2023, According to a Digital Substance Use Disorder Company There are several trends to watch out for in the substance use disorder space in 2023, according to CHESS Health's CEO Hans Morefield. These trends include rising addiction rates and increased comfort in virtual health. Healthcare Hires of Note Read about executive hires across healthcare and life science companies and organizations such as ProofPilot, Genentech, MassBio, Virgin Pulse, and more. M&A Monday: AstraZeneca Leads Way as 3 Pharmas Splash Out $3.5B in Deals AstraZeneca has committed $1.3 billion to acquire CinCor Pharma, a clinical-stage biotech whose lead drug candidate has the potential to treat hypertension in a new way. In other M&A news, Ipsen and Chiesi Farmaceutici each announced acquisitions of rare disease biotechs. All three deals come with contingent value rights. Former Execs From Datavant & Grand Rounds Create Health Data Startup Crescendo Health recently launched with a $3.4 million initial investment. The startup provides clinical researchers with software tools that make it easier to gather study participants' longitudinal health data.

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