Teladoc hints at international deal, offers up $250M in convertable senior notes
Days after an earnings call in which CEO Jason Gorevic hinted Teladoc was looking to “commit additional resources, both organically and inorganically” to meet international demand, the company offered up $250 million in convertible senior notes, signaling it may be eyeing an acquisition.
Teladoc intends to use the senior notes offering, which rose $25 million from the company's initial offering the day prior, for “working capital and other general corporate purposes, including the pursuit of strategic acquisitions should they arise."
Convertible notes are commonly used by companies without access to free cash flow to finance operations or back acquisitions. Teladoc can’t redeem the notes until May 22.
In an earnings call last week, Gorevic was noncommittal about a potential acquisition but said the company continues to look for ways to “build, buy or partner” to expand its product portfolio as well as the markets it serves. (Release)
Trinity Health announces switch to Epic
Michigan-based Trinity Health announced it will switch its EHR platform from a mix of Cerner and Athenahealth to Epic.
It’s a notable win for the Wisconsin-based EHR vendor. Trinity Health is one of the largest Catholic healthcare system in the country, with 94 hospitals and 109 post-acute care facilities across 22 states.
"We are confident a single platform will enable new levels of innovation, consumer focus, clinical and business integration and efficiency to help us build our people-centered health system. It will also help align people, process and technology to create a culture in which people-centered care becomes the standard way we care for the communities we serve,” Chief Operating Officer Mike Slubowski said in a statement. (Announcement)
Mayo Clinic goes live with its own Epic install
Over the weekend, Mayo Clinic went live with its Epic EHR and billing system at its Rochester campus, the third of four implementations across the system.
The system’s Arizona and Florida campuses are expected to go live this fall. (Announcement)
Beth Israel jumps into the tech incubator game
Boston-based Beth Israel Deaconess Medical Center (BIDMC) is launching a Health Technology Exploration Center.
BIDMC CIO John Halamka, M.D., will lead the new incubator that plans to focus on the internet of things and blockchain technologies. The initiative also plans to leverage telemedicine, cloud computing and mobile apps to empower patients and improve communication with providers. (Announcement)
The Sequoia Project looks to deploy disaster response platform nationwide
Following successful utilization last year during the California wildfires, a disaster response platform developed by The Sequoia Project is planning to expand to other states.
The Patient Unified Lookup System for Emergencies (PULSE) was developed by The Sequoia Project with support from officials within the Department of Health and Human Services to help physicians at evacuation centers confirm medical credentials for volunteers and access patient records. The nonprofit organization plans to leverage its experiences in California to expand the project to other states. (Release)