healthcare innovation summit 2016

Global Hospital & Healthcare Management

 

 

 

Wednesday
May 25th
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1/15
 
Baxter Announces Preliminary Results of Baxalta Exchange Offer (18.05.2016)
Baxter International Inc announced the preliminary results of Baxter’s previously announced offer to exchange up to 13,360,527 shares of common stock of Baxalta Incorporated that are currently owned by Baxter for shares of Baxter common stock. The exchange offer expired at 11:59 p.m., New York City time, on May 18, 2016. Under the terms of the exchange offer, for each share of Baxter common stock that is validly tendered and not validly withdrawn by a stockholder and that is accepted by Baxter pursuant to the exchange offer, Baxter will deliver 1.1591 shares of Baxalta common stock to or at the direction of such tendering stockholder.
 
According to the exchange agent, Computershare Trust Company, N.A., 304,329,090 shares of Baxter common stock were validly tendered and not validly withdrawn in the exchange offer, including 155,758,371 shares that were tendered by notice of guaranteed delivery. Baxter has accepted 11,526,638 of the tendered shares in exchange for the 13,360,527 shares of Baxalta common stock owned by Baxter and offered for exchange. Because the exchange offer was oversubscribed, Baxter accepted only a portion of the shares of its common stock that were validly tendered and not validly withdrawn, on a pro rata basis in proportion to the number of shares tendered. Stockholders (excluding certain plan participants in Baxter savings plans) who beneficially own “odd-lots” (less than 100 shares) of Baxter common stock and who have validly tendered all of their shares and made the appropriate election will not be subject to proration in accordance with the terms of the exchange offer. Following the completion of the exchange offer, all 13,360,527 shares of Baxalta common stock owned by Baxter will have been distributed to Baxter stockholders who validly tendered their shares in the exchange offer, and Baxter will not hold any shares of Baxalta common stock.

Based on the total number of shares of Baxter common stock reported to be validly tendered and not validly withdrawn prior to the expiration of the exchange offer, it is estimated that approximately 4 percent of the tendered shares of Baxter common stock will be exchanged, assuming all shares tendered by guaranteed delivery procedures are delivered under the terms of the exchange offer. This preliminary proration factor is subject to change based on the number of tendered shares that satisfy the guaranteed delivery procedures, as well as the number of “odd-lot” shares that are not subject to proration. Baxter expects to announce the final proration factor promptly following the expiration on May 23, 2016 of the guaranteed delivery period. Shares of Baxter common stock tendered but not accepted for exchange will be returned to the tendering stockholder in book-entry form promptly after the final proration factor is announced.
Promptly after the final proration factor is announced, the exchange agent will credit shares of Baxalta common stock for distribution in the exchange offer in book-entry form to accounts maintained by the Baxalta transfer agent for tendering stockholders who have validly tendered and not validly withdrawn their shares of Baxter common stock. Payments in lieu of fractional shares of Baxalta common stock will be delivered after the exchange agent has aggregated all fractional shares and sold them in the open market.

About Baxter
Baxter International Inc provides a broad portfolio of essential renal and hospital products, including home, acute and in-center dialysis; sterile IV solutions; infusion systems and devices; parenteral nutrition; biosurgery products and anesthetics; and pharmacy automation, software and services. Baxter’s global footprint and the critical nature of its products and services play a key role in expanding access to healthcare in emerging and developed countries. Baxter’s employees worldwide are building upon Baxter’s rich heritage of medical breakthroughs to advance the next generation of healthcare innovations that enable patient care.

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Royal Philips and UNFPA collaborate to transform lives in Mandera County, Kenya (11.05.2016)
The Community Life Center in Mandera is expected to provide the local area with modern, integrated high quality health services, access to energy, education, employment opportunities, commercial activities, and a secure social activity hub.

HHM Global/Press releases/-Kigali, Rwanda - Royal Philips in collaboration with the United Nations Population Fund (UNFPA) revealed its plans to inaugurate a Community Life Center (CLC) in Mandera, a County in North-Eastern Kenya with one of the world’s highest maternal mortality ratio - 3,795 per 100,000 live births1. The project which is supported by the County Government of Mandera is the second of its kind in the world; Philips inaugurated the first CLC in Kiambu County, Kenya in 2014. The CLC will deliver crucial primary healthcare and enhance community development in Mandera. The first phase of the project is expected to be completed this year.

Strengthening Primary Care & Enabling Community Development
The issues facing primary healthcare in Africa are complicated and multifaceted therefore, to create sustainable improvement means addressing a wide range of issues collectively. Issues range from unavailability of qualified healthcare workers to lack of electricity, water and basic healthcare technology. The creation of the CLC concept enabled Philips to realize its vision to drastically improve primary healthcare in Africa by addressing all causes in one solution. Developed by the Philips Africa Innovation Hub, the concept of the CLC is a community driven and integrated approach for strengthening primary healthcare and service facilities that provide community development from a healthcare, lighting and healthy living perspective.

The CLC concept goes beyond healthcare by turning a health facility into a community hub where technology is bundled with an integrated service package and community empowerment interventions. The technology includes solar power (for reliable and clean energy supply), efficient and durable indoor and outdoor LED-lighting (enabling extended opening hours and providing security to patients and staff), healthcare equipment (to enable patient monitoring, diagnosis and triage), laboratory equipment (especially for antenatal care tests), refrigeration (preserving the life span of vaccines), IT-solutions (storage of patient data), water supply and purification (preventing waterborne diseases) and promotion of community entrepreneurism and social enterprise (utilizing new opportunities created by 24/7 lightning, energy and water).
 
Siddharth Chatterjee, the UNFPA representative to Kenya said, “Our collaboration with Philips on the CLC is a welcome first step. Our collaboration will be more meaningful when we have demonstrated significant improvements in the health outcomes of the 15 Counties in Kenya that suffer from the highest burden of maternal and newborn mortality. We aim to improve these outcomes by transforming their primary healthcare systems. Key elements for the success of our CLC collaboration are innovation, adaptability, scale and sustainability.”

UNFPA has spearheaded the Every Woman Every Child (EWEC) Private Sector Collective Action initiative in Kenya of which Philips is a founding member. This ground-breaking initiative aims to significantly advance maternal new-born health outcomes in 6 counties2 in Kenya, which contribute close to 50% of all maternal deaths in the country. The CLC in Mandera reflects the EWEC commitment.

Community Life Center, Kiambu
In June 2014, Philips inaugurated the world’s first CLC in Kiambu, Kenya (located at the Githurai Lang’ata Health Center in Kiambu County). The development in Kiambu saw Philips transform a rundown healthcare center into a bustling community hub where families gather, children do their homework (under solar powered lights), commercial activities take place, and where local Government representatives raise awareness and inform locals about relevant health issues.

Within eighteen months of its opening (from June 2014 – December 2015), the center in Kiambu saw the total number of outpatients visiting per month increase from 900 to 4080; the number of children being treated quadrupled from 533 to 2370; first antenatal care patients grew by fifteen fold from 13 to 188 patients each month, while the number of fourth visit antenatal care patients each month grew sixteen fold, from 6 to 94. The maternity wing of the center enables women to deliver their babies in a safe and secure environment and since its inception, 634 babies have been born with an average of 36 babies currently born at the facility each month.

“In support of our EWEC commitment, the CLC in Mandera, will bring quality primary healthcare to a catchment population of about 40,000 women and children,” said JJ van Dongen, CEO Philips Africa. “At Philips our mission is to improve people’s lives through meaningful innovation, the CLC demonstrates an integrated model of healthcare that conjoins technology with services and aims to inspire an entire community to change the way it sees and looks after itself. That’s precisely the kind of innovation that can revolutionize society.”
 
Technology and capacity building central to the CLC
In Mandera, health workers, community members and other key stakeholders are involved in the entire development process. The CLC will utilize modern healthcare technology and over time is expected to migrate from manual to automated processes and systems, which will be connected to the appropriate Philips local service support organization. Local health workers and community members will be trained and adequately skilled in using this technology, and in turn this will create new education and employment opportunities at local level, thereby improving the livelihood of the community and supporting the sustainability of the CLC.

Ahmed Sheikh, CEC Health, Mandera County said, “We are delighted that Philips and UNFPA have collaborated to develop a CLC in Mandera. This news comes at a time when our region needs it most – we continue to have high incidents of infant and maternal mortality, we have a severe shortage of healthcare facilities and our communities are suffering as a result. This collaboration will have far reaching benefits, and we expect it will enrich the community in Mandera for years to come.”

Philips is rolling out the CLC solution in collaboration with organizations like UNFPA and governments that want to strengthen their community and primary healthcare systems, improving both preventive and curative healthcare as well as social and economic development.
 
2 Mandera, Marsabit, Migori, Wajir, Isiolo, Lamu
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IMS Health and Quintiles to Merge (02.05.2016)
IMS Health Holdings, Inc. and Quintiles Transnational Holdings Inc. announced that their respective boards of directors approved a definitive merger agreement, pursuant to which the companies will be combined in an all-stock merger of equals transaction. The merged company will be named Quintiles IMS Holdings, Inc. Based on the closing of IMS Health and Quintiles common stock prices on May 2, 2016, the equity market capitalization of the joined companies is more than $17.6 billion and the enterprise value is more than $23 billion. The 2015 pro forma reported revenue for Quintiles IMS was $7.2 billion; adjusted EBITDA was $1.7 billion and adjusted unlevered free cash flow was $1.3 billion. Please see attached appendix for reconciliation of non-GAAP measures.

Under the terms of the merger agreement, IMS Health shareholders will receive a fixed exchange ratio of 0.384 shares of Quintiles common stock for each share of IMS Health common stock. Upon completion of the merger, IMS Health shareholders will own approximately 51.4 percent of the shares of the combined company on a fully diluted basis and Quintiles shareholders will own approximately 48.6 percent of the combined company on a fully diluted basis.

Quintiles Chief Executive Officer, Tom Pike, said, “This combination addresses life-science companies’ most pressing needs: to transform the clinical development of innovative medicines, demonstrate the value of these medicines in the real world, and drive commercial success. We are bringing together two best-in-class leaders. I’m confident that together we will make our clients even more successful.”
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Himss 2016

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Feb. 2016 - PDF | e-book

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