Health IT Roundup—Iora Health closes $100M funding round; SCOTUS sides with Epic in arbitration case

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Iora Health closed a $100 million funding round on Monday. (pasja1000)

Iora health closes $100 series E

Boston-based Iora Health closed a $100 million funding round on Monday which it plans to use to “support continued growth and improved technology,” according to an announcement.

The primary care provider, which integrates tech-based offerings to Medicare patients, closed the series E funding with investors like GE Ventures, Khosla Ventures and Flare Capital Partners. The startup takes a “whole person” approach by assigning patients a health coach, behavioral health specialist, team nurse and clinical team manager, in addition to a provider.

"Last year we doubled our number of patients, and we are on track to do the same this year. Iora's vision since our inception has been to transform health care. To have a truly transformative impact, we must continue to grow and care for more patients," said Rushika Fernandopulle, co-founder and CEO of Iora Health, said in a statement. "With the support of our investors, this new funding will allow us to deliver our high-quality care to more patients in new and existing markets." (Announcement)

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SCOTUS sides with Epic in arbitration case

The U.S. Supreme Court sided with EHR vendor Epic, ruling that employers can force employees into arbitration to resolve wage disputes.

Epic was one of three employers in the case, in which employees sought to void the agreements and bring payment disputes through the court system.

In the 5-4 decision, the high court ruled that arbitration agreements like the one employed by Epic were valid.

“As a matter of policy these questions are surely debatable. But as a matter of law the answer is clear,” Justice Neil Gorsuch wrote.

Justice Ruth Bader Ginsberg led the four dissenters, calling the court’s decision “egregiously wrong.” The case returns to the U.S. District Court for the Western District of Wisconsin. (Decision [PDF])

Cerner expands share buyback program

Cerner’s board of directors approved an amendment to its stock repurchasing program on Friday, authorizing the repurchase of up to $500 million in common stock.

The approval expands the repurchasing program to $1 billion and comes days after the company signed its contract with the VA. As of May 18, there is $639 million authorized for repurchase, according Cerner, which will be funded through working capital.

“The expanded repurchase program reflects our commitment to return value to shareholders and our belief in Cerner's long-term growth potential,” Chief Financial Officer Marc Naughton said in a statement. (Announcement)

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