Specialty chemicals maker Rossari to acquire Tristar Intermediates for ₹ 120 cr

MUMBAI :

Bombay: Rossari Biotech Ltd, a manufacturer of specialty chemicals, announced Sunday that its board of directors has approved the acquisition of Tristar Intermediates Pvt. Ltd, the company said in a statement.

According to the agreement and subject to the usual closing conditions, Rossari will acquire 100% of the share capital of Tristar Intermediates. Seventy-six percent of the share capital will be acquired upon closing of the transaction, and the balance 24% over the next three years. The total enterprise value of the transaction is 120 crores.

Rossari plans to fund the investment in cash on its balance sheet and does not intend to incur debt for the acquisition, the statement said.

“The transaction brings together two companies with strong potential in the field of specialty chemicals. The mix of capabilities will add scale, provide cross-selling opportunities and accelerate Rossari’s growth, while significantly improving long-term value creation. The synergistic acquisition provides Rossari with an enhanced product portfolio, a stronger presence in new and untapped international markets and access to new technologies, ”the statement said.

The promoters of Tristar will continue to run the company for at least the next three years.

Tristar Intermediates, established in 1998, specializes in the manufacture of preservatives, aromatic chemicals and additives for the home and personal care. Based in Thane, Maharashtra, Tristar Intermediates is a preferred supplier to various reputable companies and multinationals in India, Europe, United States and countries of the Far East. Although it has a strong presence in the personal care and home care segments, the company’s wide product line also has applications in various industries such as pharmaceuticals, textiles, paints, automotive. , agrochemicals and others. Tristar Intermediates has manufacturing facilities in Sarigam (Vapi), Gujarat, with a total capacity of 15,000 MTPA.

In fiscal year 21, Tristar Intermediate sales amounted to 110.5 crore, with an Ebitda of 15.6 crore, Ebitda margins at 14.1% and PAT at 10.4 crores. In FY21, the personal care segment contributed 60% of revenue, and exports accounted for 53% of revenue.

“The combined capabilities will provide strong growth momentum and allow us to further expand into high potential product categories of personal care and home care, among others. The addition of new international markets, cross-selling opportunities, talent and technological know-how will also boost business efficiency, ”said Edward Menezes, promoter and executive chairman, and Sunil Chari, promoter and general manager by Rossari Biotech.

Based in Mumbai, Rossari operates two manufacturing plants in Silvassa and Dahej. The company offers tailor-made solutions for the home, personal care and performance chemicals, specialty textile chemicals, and animal health and nutrition.

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Direct care crisis ‘will explode’ without immediate government support, warns PHI

From low wages to a lack of career advancement opportunities, there are a number of issues plaguing the healthcare workforce.

Under the current presidential administration, however, it is possible to re-examine the state of the caregiver workforce and implement several changes that could improve the profession, thereby ensuring care for the elderly.

PHI, a New York-based direct care workers’ rights organization, has proposed nearly 50 federal policy recommendations as part of a new report published Wednesday. The recommendations are directed to the White House, Congress and various government agencies.

“Our country is at a critical juncture regarding this workforce,” Robert Espinoza, vice president of policy at PHI, told Home Health Care News. “The pandemic has reinforced the enormous worth of these workers, the challenges they continue to face and how these issues endanger the lives of workers and the people they support.”

Overall, there are approximately 4.6 million direct care workers in the United States. Usually this includes orderlies, home health aides and nursing assistants.

More and more seniors rely on caregivers to stay independent at home. When you consider the aging population, about 70% of people have serious long-term service and support needs, according to the Global Coalition on Aging.

Despite the increased need for caregivers, almost half of workers live in or near poverty.

In fact, the median salary for caregivers is comparatively lower than the median salary for other jobs with similar entry requirements, such as janitors, retail salespeople and customer service representatives, according to PHI.

This helps keep people off the field, making it difficult for home care providers to recruit and retain caregivers.

“We hope that a new presidential administration which has already presented an ambitious plan to increase the wages of home care workers will continue to advance measures that address the many problems facing this workforce,” said Espinoza.

As part of its report, PHI calls on Congress to enact and fund legislation that would establish a federal social insurance program in long-term care and fund states to improve their home and community service infrastructure ( HCBS).

Other long-term care funding efforts include: supporting alternative funding models, reforming Medicaid, and creating an “HCBS Workforce Plan” that defines the costs of supporting workers in the long term. Home Care.

The report also recommends measures that would implement a national strategy to improve the salaries and benefits of carers, promote financial support programs and finance the creation of state or regional public authorities to improve the quality of employment. .

In terms of a national compensation strategy, PHI suggests that the Centers for Medicare & Medicaid Services (CMS), the Administration for Community Living, the US Health Resources and Services Administration, and the US Department of Labor should collaborate on a plan that meets the workforce concerns. . This includes developing specific recommendations on state Medicaid rates to ensure competitive salaries and benefits.

PHI also suggests establishing a national competency-based training standard. In addition, CMS should create minimum federal training standards for nursing assistants, the advocacy organization believes.

“One recommendation that emerges from the report is that various federal agencies work with stakeholders on the ground to establish a national standard for direct care skills that applies to all members of this workforce, which would improve the quality and consistency of training in these workers, ”Espinoza told HHCN.

Additionally, PHI highlighted various recommendations regarding career advancement opportunities for caregivers, data collection and monitoring for this employment sector, as well as leadership opportunities for caregivers.

Looking ahead, there will be dire consequences if the United States is unable to move forward on some of the PHI recommendations, Espinoza warned.

“If the federal government does not immediately prioritize this workforce, the direct care crisis will explode – millions of workers will continue to suffer financially, employers will not be able to fill the 7.4 million jobs. jobs in direct care that our research estimates will occur between 2019 and 2029, and older people and people with disabilities will not receive the care they deserve, ”he said.


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Medline and InComm Payments Team to Streamline OTC

Healthcare company Medline and payment technology company InComm Payments are teaming up to improve the experience of managed health plan members purchasing over-the-counter (OTC) products, according to a Press release.

The partnership will focus on creating more flexible ways to pay for over-the-counter items, such as first aid, home diagnostics, personal care, medication and bath safety, the release said. Health plan members can use a preloaded OTC Network card to purchase products covered by their insurance plan. Members will be able to pay through the Medline e-commerce home site, in person in stores or over the phone.

Pat Twohig, vice president of Medline Homecare and Managed Care, said in the statement that the partnership aims to make healthcare easier.

“We are seeing that health insurance providers are putting more emphasis on going beyond a transactional relationship with their members and implementing programs that retain consumers,” he said. stated in the press release. “By partnering with an innovative technology company like InComm Payments, we can enable health plan members to get their products faster and create a positive experience that helps insurers continue to grow their membership base.

Executive Vice President of InComm Payments Brian parlotto said in the statement, “Our OTC network continues to gain popularity among health plan members, who appreciate the ease with which they can receive and spend their benefit money, and among health plans, which see reduced health care costs through better results for members. By partnering with Medline, we are increasing the efficiency and convenience with which Medicare members can access the health products that keep them healthy and happy in the short and long term.

In related news, InComm announced a partnership with Flexa earlier this month, to make merchants more accepting of digital currency. Those who were already logged into InComm will be able to accept bitcoin and other cryptocurrencies.

“As digital currencies gain popularity and rapidly gain adoption by consumers, it is essential for retailers to follow a wide range of payment options,” InComm Payments President Stefan Happ said at the time.

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NEW PYMNTS DATA: STUDY PUTTING LOYALTY AT THE SERVICE OF SMALL BUSINESS – UNITED KINGDOM EDITION

About the study: UK consumers see local purchases as essential for both supporting the economy and preserving the environment, but many local High Street businesses are struggling to get them in. In the new Making Loyalty Work For Small Businesses study, PYMNTS surveys 1,115 UK consumers to find out how offering personalized loyalty programs can help engage new High Street shoppers.


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State Department of Health reports 3 days total of 547 new cases, 13 more deaths – CBS Pittsburgh

By: KDKA-TV News Staff

HARRISBURG (KDKA) – The Pennsylvania Department of Health reports a three-day total of 547 new coronavirus cases and 13 additional deaths.

READ MORE: Pennsylvania’s instant gun background check system sees drop for first time in a year

That brings the statewide total to 1,214,320 cases and 27,750 COVID-19-related deaths since the start of the pandemic.

There are 267 people across the state in hospital with COVID-19, and 58 patients are in intensive care.

The state reports that 11,332,589 total doses of vaccine have been administered and 5,560,626 people are fully immunized. So far, 61.2% of Pennsylvanians aged 18 and over are fully vaccinated.

All Pennsylvanians 16 years of age or older are eligible for the vaccine, and eligibility for the Pfizer vaccine was extended to children ages 12 to 15 on May 10.

READ MORE: Suspected bank robber arrested after Armstrong County chase

If you have any concerns about the virus, you can consult the COVID-19 Early Warning Monitoring System Dashboard

To date, 4,818,287 people have tested negative for COVID-19.

There were 72,102 cases among residents and 15,571 cases among employees of licensed nursing and personal care homes statewide. Of all the total deaths, 13,367 occurred in residents of nursing or personal care facilities.

The state also reports that 29,071 healthcare workers were diagnosed with COVID-19 during the pandemic.

NO MORE NEWS: Ohio Township Police search for ‘very suspicious’ man caught staring in windows late at night

More information on the coronavirus pandemic:


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Invest in Connecticut’s Continuum of Community Care Before It’s Too Late

For patients with severe mental illness, home behavioral health may be one of the few, if not the only, connection between them and the community in which they live. As part of a larger set of services known as skilled home health care, home behavioral health enables these patients to receive physical and mental health care, as well as administration and monitoring. medication, in the comfort of their own homes, rather than in a large facility. such as a skilled nursing facility, residential psychiatric hospital, or correctional facility.

According to Connecticut Association for Home Health Care, skilled home health services saved the state more than $ 500 million in Medicaid costs over the past decade. Functioning as the only place of care designed to respond to acute changes in complex medical conditions that, left untreated, send patients to hospitals and other institutional settings, skilled home health services are a major driver of savings within of the Connecticut Medicaid System.

However, reimbursement rates for essential skilled home health services have been stable since 2007, and behavioral home health services have been reduced by 15 percent in 2016. The result of the state’s neglect to invest in qualified home health programs in almost 15 years, is a sector under significant financial pressure as there is a direct relationship between reimbursement and the capacity of health care providers to invest in clinicians and services. capabilities.

Fortunately, Connecticut now has the opportunity to remedy this situation. The state is currently developing its plan on how to use a temporary 10% increase in its Federal Medical Assistance Percentage (FMAP), which was included in the recently passed American Rescue Plan Act of 2021 (ARPA). It is critically important that Connecticut use these funds as a means to provide temporary but much needed investments in its continuum of community care. For the community care system to function properly, the entire community care continuum must be healthy. Connecticut’s decision not to make a single investment in skilled home health services over the past 14 years is clearly unhealthy.

Without skilled home health services, many patients, including those enrolled in personal care programs, would not be able to stay in their homes and communities. Never has this care been as important as during the last 15 months of the COVID-19 pandemic.

As an example, consider the real story of a 30-year-old patient who lived alone in Bridgeport, with a primary diagnosis of paranoid schizophrenia. When the COVID-19 pandemic struck, her community took charge of either converting to remote service delivery through telehealth or shutting down altogether. Her behavioral home care plan required skilled nursing care to deal with significant physical health issues concurrent with her diagnosis of schizophrenia and the administration and monitoring of her medications – services that simply could not be “suspended.” Or successfully delivered “remotely” for that patient.

For months, the only person in this patient’s home each day was his home behavioral health nurse. In fact, he was so dependent on his myriad of services that after losing them, he asked his behavioral health nurse how he could eat, as the person who traditionally helped with meal delivery and preparation was not coming. more at home. Fortunately, the nurse was equipped to act quickly and ensure the placement of a home health aide to allow the delivery and preparation of meals for the patient. This is why he was able to stay in his community throughout the pandemic, and still does today.

I use this example because it frames the criticality of consistent service delivery from home behavioral care providers under any circumstance. Despite the great challenges and personal risks of delivering healthcare during the pandemic, Connecticut’s home behavioral health clinicians have come forward for their patients every day, as they always do. While this commitment makes all the difference for their patients; The daily efforts of these clinicians are also critical to the health and effectiveness of Connecticut’s larger continuum of care.

Recent proposals to use $ 200 million in ARPA funds to increase personal care worker wages to $ 21 an hour and call for more funding for pediatric home care providers indicate real and significant needs, and although they are substantial, they also do not represent the best use of temporary ARPA FMAP. stimulate or provide long-term solutions to stabilize Connecticut’s continuum of community care, damaged by COVID-19. Instead, Connecticut is expected to use the ARPA FMAP boost to provide a temporary 10% tariff surcharge for all qualifying home and community services (HCBS). This simple, straightforward approach will bring some relief to every segment of the continuum of care, allowing the Connecticut legislature and Governor Lamont’s administration the time needed to plan for the longer term.

While terrible in every way, the COVID-19 pandemic has clearly demonstrated our fundamental interdependence with one another. The same is true of our health systems, each component must work together with the other to deliver the maximum benefit to patients. We sincerely hope that Connecticut policy makers take this basic truth into account and prove it in Connecticut’s ARPA FMAP plan.

Cale Bradford is the head of government relations at Caring elara, one of the nation’s largest home and community health service providers and provides daily care to 60,000 beneficiaries in 16 states with more than 3,500 behavioral health clients in the Bridgeport, New Haven and Hartford areas, Connecticut.


CTViewpoints welcomes rebuttals or opposing views to this and all of its comments. Read our guidelines and submit your comments here.


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Proof of vaccination is now required for employees of Revera long-term care homes

WINNIPEG – Workers at one of the largest operators of long-term care homes in Canada are now required to show proof of COVID-19 vaccination.

A Revera spokesperson confirmed to CTV that a new policy, effective July 1, states that all staff working in care homes owned and operated by the company should be vaccinated, except when this is not possible in due to medical exceptions.

“Revera expects all staff to be vaccinated against COVID-19 if they are able and will seek a documented medical reason from those who are not,” the spokesperson wrote in a statement.

Unvaccinated Revera staff must undergo daily testing, and personal protective equipment requirements will remain in place even when no longer mandated by public health authorities.

The company added that vaccination will be a condition of employment for new recruits, unless this is not possible due to “legitimate and established exceptions.”

“We are grateful to the many staff who have already been vaccinated and to our union partners who have supported and encouraged staff vaccinations,” the spokesperson said. “This policy is one more step to protect both our residents and our staff as we continue to fight this deadly virus, particularly the emergence of several worrying variants. “

Two Revera-owned nursing homes in Winnipeg were the sites of two of the deadliest outbreaks in Manitoba; Maples Personal Care Home and Parkview Place.

The Maples Personal Care Home has experienced the deadliest COVID-19 outbreak in a personal care home, with 55 residents dying from COVID-19. During the outbreak, 62 staff and 153 residents tested positive for COVID-19.

The COVID-19 outbreak at Parkview Place was also one of the deadliest in the province, with the deaths of 29 residents linked to COVID-19. There were 39 staff and 119 residents who tested positive during the outbreak.


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Even Bonuses of $ 10,000 and More Don’t Reduce the Shortage of “Critical” Nurses in Western Pennsylvania

Some health officials deem the shortage of nurses in western Pennsylvania “critical,” reports the Pittsburgh Tribune-Revue.

The shortage is occurring in a region characterized by a rapidly aging population and shrinking workforce, and has only been exacerbated by the pandemic.

The UPMC and the Allegheny Health Network, both based in Pittsburgh, posted more than 2,200 RN and RN positions online last week, according to the Tribune-Revue. UPMC, the state’s largest employer, offers recruiting bonuses of up to $ 10,000 for registered nurses, while AHN offers up to $ 15,000 for more experienced nurses.

Some personal care homes and assisted living facilities pay up to $ 50 an hour to fill urgent vacancies for unlicensed caregivers, said Margie Zelenak, executive director of the Pennsylvania Assisted Living Association. At least two personal care homes told him they had decided to close in recent weeks, with one citing an inability to hire help.

Since May 2020, employment in nursing homes and residential facilities in the six-county area has fallen by 1,100 workers, according to the United States Bureau of Labor Statistics.

“We’re struggling to hire to fill positions,” said John Dickson, president and CEO of Redstone Presbyterian SeniorCare, based in Greensburg, Pa. Even before the pandemic, Redstone worked through the Healthcare Council of Western Pennsylvania to bring in nurses from the Philippines.

Greensburg-based Excela Health, which operates three hospitals and several outpatient care facilities, plans to implement an international contract for nurses this fall, a spokesperson told the Tribune-Revue.

In 2018, AHN recruited 150 graduate nurses from the Philippines and the Caribbean Islands, who have similar professional standards. Claire Zangerle, DNP, MSN, chief nurse at AHN, said the program, which requires nurses to come with three-year work visas, has been successful with a high retention rate.


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EORS by Myntra: Go Crazy with Stunning Deals on Your Favorite Beauty and Personal Care Products

Do the names of MAC, Body Shop, Maybelline, Bath & Body Works really turn you on? If so, we have good news for you buyers. It’s going to rain deals on Myntra! The 14th edition of Myntra’s End of Reason Sale (EORS) has arrived. From July 3 to 8, you will see a range of attractive offers from your favorite brands at attractive prices.

Now, just so you don’t have to waste time browsing the catalog when the sale is live, here’s a roundup of the best products in the EORS collection that will enhance your beauty and personal grooming game without burning a hole in. your pocket:

Refresh your look with LAKME

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Did you wear boring makeup? Spice it up with Lakme’s glossy, long-wearing lipsticks. You have no excuse because you can enjoy 30-50% during the EORS. Now who doesn’t want blush pink cheeks and Scarlet Plume, Brazen Caramel and Envious Red lip colors that can be worn on different occasions in almost any season!

Prepare with Philips products

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Is your hair going to be messy or was it too hard to get out to get waxed? No more hassle as hairdryers, hair straighteners, trimmers, razors, epilators and more are available for
up to 30% discount
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Live summers with The Body Shop

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Go for a long-lasting and stimulating vitamin C moisturizer this season, it’s time to rejuvenate yourself with fresh and fruity scents from Body Shop. The best part is that you experience the monsoons and winters with its diverse range of products with beautiful scents on a
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Turn heads with premium makeup products from MAC

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If you like makeup, rejoice my daughter, because MAC products are finally available! You can
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Shine from within with Kama Ayurveda

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Everyone needs some downtime from their usual monotonous routine. There is nothing better than being pampered with Kama Ayurveda Night Serum, Shea & Lotus Body Butter, Body Mists and Rose Water, especially when there is
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Enjoy the benefits of Mama Earth products

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Dress in style with
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Maybelline’s makeup range is suitable for all occasions, from simple daytime makeup to evening rendezvous to evening! You can get them at 30-50% off this EORS, we say grab your favorites before it’s too late!

Relax and soothe yourself with Bath and Body

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Have you ever felt the relaxation you feel when you go to hotels and the sensation you get when you step out of the spa? This is what Bath and Body Works guarantees you. Its scented candles, body mists, shower gel, etc. give you the luxurious feeling you crave. So bring the luxury home to pamper yourself with 40-70% off all your favorite products.

Since there’s no way it won’t get you excited, don’t miss out on all of these amazing offers and sign up for the Myntra Insider Program now and shop!

Disclaimer: This article was produced on behalf of Myntra by the Times Internet Spotlight team.


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Over 11.7 million vaccinations to date, 62.9% of the general population received the first dose, 60.3% of Pennsylvanians aged 18 and over fully vaccinated, PA ranks 9th out of 50 States for the first dose of vaccination

Harrisburg, Pennsylvania – The Pennsylvania Department of Health today confirmed that at midnight on Friday, July 2, there were 304 additional positive cases of COVID-19, bringing the statewide total to 1,212,561 .

There are 310 people hospitalized with COVID-19. Of that number, 59 patients are in the intensive care unit with COVID-19. Most hospital patients are 65 years of age or older, and most deaths have occurred in patients 65 years of age or older. More data is available here.

The trend in the 14-day moving average number of inpatients by continues to decline, having peaked at 2,661 patients, which is slightly lower than it was at the peak of the spring 2020 peak of 2,751 patients on May 3. 2020. -a moving average of days since the start of the pandemic can be found here.

The statewide percentage of positivity for the week of June 18 to June 24 was 1.2%.

The most precise daily data is available on the site, with archived data also available.

As of 11:59 p.m. on Thursday, July 1, there were 8 new deaths identified by the Pennsylvania Death Registry, reported for a total of 27,695 deaths attributed to COVID-19. County specific information and a statewide map are available on the COVID-19 Data Dashboard.

Distribution of COVID-19 vaccines

Hospitals in Pennsylvania began receiving shipments of the Pfizer-BioNTech COVID-19 vaccine the week of December 14 and the Moderna COVID-19 vaccine the week of December 21. The Janssen (Johnson & Johnson) COVID-19 vaccine was first assigned to Pennsylvania on the week of March 1. On Friday, April 23, the CDC and the FDA notified all COVID-19 vaccine suppliers that the break in the delivery of Johnson & Johnson (Janssen) vaccine doses has been lifted. Following the announcement, Pennsylvania resumed Janssen vaccinations. The vaccination figures for Pennsylvania do not include Philadelphia, which is its own jurisdiction, or federal facilities, which work directly with the federal government.

Strengths of the vaccine

Federal data representing the 67 counties:

  • According to the CDC, as of Thursday, July 1, Pennsylvania has administered the first doses of vaccine to 62.9% of its total population, and the state ranks 9th among 50 states for first doses administered by percentage of population.
  • According to the CDC, as of Thursday, July 1, 60.3% of Pennsylvanians aged 18 and over are fully vaccinated while 75.5% have received their first dose.
  • According to the CDC, as of Thursday, July 1, Pennsylvania ranks 5th among 50 states for total doses administered.

State-wide data representing the 66 counties within the vaccine jurisdiction of the Ministry of Health:

  • Vaccine suppliers have administered 11,711,557 total doses of vaccine as of Friday, July 2.
    • First dose / single dose: 6,738,627 administered
    • Second doses: 4,972,930 administered

  • 5,418,234 people are fully vaccinated; with a seven-day moving average of over 17,000 people per day vaccinated.
  • 1,320,393 people are partially vaccinated, which means they have received one dose of a two-dose vaccine.
  • 6,738,627 people received at least their first dose.

Department continues to urge Pennsylvanians to follow CDC advice for wearing a mask when required by law, rules and regulations, including healthcare, local business and workplace counseling. For their protection and that of others, unvaccinated or partially vaccinated people are always encouraged to wear a mask in public.

There are 163,512 people who have a positive viral antigen test and are considered probable cases and 638 people who have a positive serological test and either have symptoms of COVID-19 or a high-risk exposure.

To date, 4,775,280 people have tested negative.

In licensed nursing and personal care homes, there were a total of 72,059 cases of COVID-19 among residents and 15,554 cases among employees, for a total of 87,613 in 1,598 separate facilities in all 67 counties. Of the total number of deaths reported to PA-NEDSS, 13,358 occurred in residents of nursing or personal care facilities. A breakdown by county can be found here. Note that the number of deaths reported to NEDSS is not exactly the same as COVID-19-related deaths reported by the death registry. The number of deaths among EHPAD residents and employees is taken from PA-NEDSS death data, this information not being available in the death register data.

About 29,021 of the total cases were among healthcare workers.

The Department of Health strives to ensure that the vaccine is provided in an ethical, fair and effective manner to all Pennsylvanians:

  • All Pennsylvanians aged 12 and over are eligible to schedule a COVID-19 vaccine. Use Vaccine research to find a COVID-19 vaccine supplier near you.
  • A Commonwealth COVID-19 Vaccination Guide explains the current process for obtaining one. Pennsylvanians with questions about the immunization process can call the Department of Health hotline at 1-877-724-3258.
  • All the places that received the vaccine and how much they received can be found on the COVID-19 vaccine distribution web page.
  • Vaccine Dashboard Data can also be viewed on the website to find more information on doses administered and to present demographic information.
  • the United Against COVID Weekly Update is a summary of the news you can use and answers to your most pressing vaccine questions – delivered straight to your inbox every week.
  • Frequently asked questions can be found here.

The Wolf administration highlights the role Pennsylvanians play in helping reduce the spread of COVID-19:

  • Get vaccinated with one of three safe and effective vaccines available to provide the best layer of protection.
  • Wash your hands with soap and water for at least 20 seconds, or use hand sanitizer if you don’t have soap and water.
  • Cover any coughs or sneezes with your elbow, not your hands.
  • Clean surfaces frequently.
  • Stay home to avoid spreading COVID-19, especially if you are not feeling well.
  • Download the COVID Alert PA app and bring your phone into combat. The free app can be found in the Google Play Store and the Apple App Store by searching for “covid alert pa”.

Coronavirus Updated Links: Press Releases, State Lab Photos, Charts

CONTACT WITH THE MEDIA: Mark O’Neill – [email protected]

EDITOR’S NOTE: There will be no data update press release on Monday, July 5, as state agencies will be closed to observe Independence Day. The Department of Health will provide an update of the most recent data on COVID-19 in Pennsylvania on Tuesday, July 6 at noon through a press release.

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Amedisys seeks to withdraw from home health pack with Contessa “No Brainer” deal

Aging-in-place company Amedisys Inc. (Nasdaq: AMED) on Wednesday announced plans to acquire pioneer home hospital Contessa Health for $ 250 million.

From a technical standpoint, the deal – which is expected to be concluded later this summer – makes a lot of sense for Amedisys.

Among the strategic advantages, for example, it offers the Baton Rouge, Louisiana-based company an unprecedented range of home care capabilities, adding acute-level care to its existing mix of home health services, palliative and personal care. In addition to extending its home care continuum, Contessa offers turnkey partnerships with highly reputable healthcare systems and extensive experience in the world of risk, which Amedisys has long prioritized.

Yet from a broader and longer-term perspective, the deal was about much more than that, Amedisys CEO and Chairman Paul Kusserow told Home Health Care News.

“We are taking home health to new places,” Kusserow said. “This has always been our ambition. I know it sounds a bit arrogant, but I think this acquisition shows how we continue to find new places to foster home care, to promote aging in place. We continue to lead in this effort.

The current home healthcare landscape remains highly fragmented, with the top 10 companies accounting for just over 25% of the national market share. While they have all taken different paths to become home health giants, their overall business models are sometimes similar, defined by the focus on the three traditional home care service lines.

With Contessa under its roof acting as a single business segment, Amedisys instantly moves away from the contemporary home care package, Kusserow explained.

Additionally, by adding inpatient home, home SNF, and palliative care programs to its bag of home care tips, Amedisys simultaneously grows its total addressable market from around $ 44 billion to $ 73 billion. of dollars.

“As we digged into this, I saw a really comprehensive and thoughtful company that took risks and took care of the highest acuity patients,” Kusserow said. “And he’s able to expand our market in a way that I don’t think we can reach, nor do I think the rest of the industry could, in the next four or five years.”

In many ways, the same could be said of what Amedisys does for Nashville, Tennessee-based Contessa.

When Contessa was launched in 2015, there were many individual inpatient home programs, but few promising companies specializing in acute home care. This is still true, with Contessa, Medically Home and DispatchHealth often being seen as the de facto market leaders.

But healthcare entrepreneurs and others have increasingly turned to the home hospital space due to the COVID-19 pandemic, which means the current field may soon become crowded.

Once his deal with Amedisys is finalized, Contessa will be in a class of its own, Travis Messina, founder and CEO of the company, told HHCN.

“We’ve heard a pretty consistent message from health system leaders that they are increasingly wary of having a partner for home health, a different partner for the hospital at home, a partner different for et cetera, et cetera, ”Messina mentioned. “The partnership and the company, once the agreement is concluded, will be able to provide the full continuum of home care services. I think continuity is something that is very appealing to these executives.

How it came together

Deals can sometimes be completed in a few months. In a sense, Amedisys’ agreement to acquire Contessa took place over several years.

Prior to taking on the role of CEO of Amedisys in 2014, Kusserow held various executive roles at Alignment Healthcare Inc. (Nasdaq: ALHC) and Humana Inc. (NYSE: HUM). His previous experience also included time with the Ziegler HealthVest Fund, San Ysidro Capital Partners, Roaring Mountain, and Tenet Healthcare Corporation (NYSE: THC).

At one point, Kusserow even helped build Clinically Home, one of the first to adopt the home hospital program.

“It was always an idea that I really liked,” he recalls.

In the pre-Amedisys era, Kusserow and Messina had crossed paths on numerous occasions, with the former focusing on the latter’s developing career. When the time came for Kusserow to leave Clinically Home, he attempted to call on Messina to help guide the business – but was ultimately rejected.

“It’s actually a funny story,” Kusserow told HHCN. “When Travis started, I was like ‘Wow. Smart guy. Why don’t we give it a chance? And he refused me.

Obviously, Messina had its own ambitions as a home hospital. He formed Contessa after serving as Chief Investment Officer of Martin Ventures, growing it from a small start-up to a home care innovator with seven major healthcare system partnerships and around 140 employees, raising funds. tens of millions of dollars in the process.

While Contessa was doing well before the pandemic, the home care spotlight put “a lot more attention” on her role model, Messina said. The US Centers for Medicare & Medicaid Services (CMS) waiver of “acute hospital home care” also accelerated interest.

As of June 28, CMS had approved 68 health systems and 142 hospitals in 32 states to participate in the home hospitals initiative, according to publicly available data.

With more momentum than ever before, Messina and her team began to think about the next chapter of Contessa.

“In fact, we were looking for private equity funds to be that growth partner going forward,” Messina said. “But after sitting down with the Amedisys team,… it made sense that it would allow the hospital at home and the SNF at home, allowing Contessa to succeed to her highest potential. The capabilities they bring from their home care delivery experience – and the quality of the nurses they bring home – are unmatched. “

The purchase price of $ 250 million is a multiple of 3.9 times 2022 revenue, according to Amedisys. Other tech-based health services companies are trading at around 6 times revenue in 2022.

“It became clear that they were going to look for another round of funding or potentially sell,” Kusserow said. “My team came to me and told me that… if we’re going to follow the talk, we’ve got to get this business. “

“It was obvious,” he added.

Strategic advantages

In Wednesday’s announcement, Amedisys and Contessa executives hammered home the transformational nature of their deal.

However, there are also more immediate strategic benefits.

Amedisys currently provides home health, hospice, and personal care services in 39 states and Washington, DC. It is able to do this thanks to its workforce of around 21,000 employees, the lifeblood and greatest asset of the company, according to Kusserow.

In recent years, Amedisys has invested heavily in recruitment and retention initiatives, which include the use of predictive analytics to track and prevent turnover. The acquisition of Contessa would add to these efforts as many clinicians seek to hone their skills through new models of care delivery.

“Nurses are hard to find, especially high-level qualified nurses,” Kusserow said. “And they’re hard to keep. When we enter a market, it gives nurses a chance to be at the forefront of new types of care. It also validates home health for many of these people. “

Contessa’s model also relies on highly trained clinicians who are comfortable tackling a range of complex conditions at home. But to grow beyond its current seven-state footprint, Contessa knew she needed to acquire more medical professionals.

Instead of diverting resources to hiring, Contessa can now rely on Amedisys’ workforce, Messina noted. Besides rapid growth, having a partner like Amedisys will go a long way in reassuring doctors, he said.

“One of the most critical elements of our model is to ensure that the physicians who admit patients into the program are comfortable with the nurses who are at the bedside,” said Messina. “If you don’t create that trust, there’s no way you can drive adoption of the model. “

Additionally, teaming up with Contessa also gives Amedisys a solid foothold in the door with health systems like Mount Sinai, Highmark Health and others.

“It brings us to a new audience with a new conversation, but with an established product that they enjoy,” Kusserow said.

In addition to all of the aforementioned benefits, the acquisition of Contessa will also fuel the growth in admissions into home care and palliative care services while giving Amedisys more firepower to establish risk-sharing agreements.

“We think this is where the world moves,” Kusserow said. “And this is where we have to play.”


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