The two North Carolina-based health systems have signed a letter of intent to allow Novant Health to invest in HealthTeam Advantage, a wholly owned subsidiary of Cone Health.
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Antonio Ciaccia, CEO of drug pricing research firm 46brooklyn Research and president of 3 Axis Advisors, discusses what’s driving payer lawsuits against pharmacy benefit managers, and the role these middlemen play in determining drug prices.
Stockholders allege the insurtech concealed the negative impact the COVID-19 pandemic was having on its business ahead of its $7 billion initial public offering.
The insurtech does not expect the move to have a "significant or even close to material effect" on its profits for the year, executives said.
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