What a 3rd authorized vaccine means for the summer

Hello,

Hope you all had a great first week of March. I’ve been enjoying the longer hours of sunshine and some of the 60-degree days here in Denver. 

To start this week, I wanted to let you know we’re hiring for two new roles on the healthcare team! We’re looking to add another digital health reporter and another healthcare editor. You’d be working with me, editor Zach Tracer, and the rest of the fabulous team we have here at Insider. Interested in learning more? Let’s talk!

Meanwhile, this week, we chronicled the impact of having another vaccine available in the US, a rocky first day of trading for Oscar Health, and the arrival of 2021’s first digital health unicorn

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summer pandemic in the US 4x3

What summer 2021 will be like

Last Saturday, the Food and Drug Administration authorized Johnson & Johnson’s coronavirus vaccine, adding a third shot to the US vaccine rollout. As an added bonus: it requires just one dose. 

That could dramatically impact what our summer looks like. On Tuesday, President Joe Biden said that we’ll have enough vaccines for “every adult in America” by the end of May.

Hilary Brueck and Andrew Dunn teamed up to argue that J&J’s vaccine is probably the best shot. That’s based the fact that it’s cheap, has mild side effects, and performs against the variants.

(What I got out of reading this post is that I shouldn’t write off the J&J shot just yet.) I’m still looking forward to one day getting a shot – any shot. 

More useful news: COVID-19 vaccines are proving crucial in curbing the pandemic by slashing infections, hospitalizations, and deaths, Andrew reports. That’s according to data coming in from the vaccine rollouts outside of clinical trials. 

In all, despite coronavirus cases plateauing at a lower level over the last week, there’s still reason to be optimistic about this summer, Andrew, Hilary, Aria Bendix, and Patricia Kelly Yeo report. 

Read the full story here>>

3 reasons to be optimistic about this summer, according to 18 doctors and scientists


Oscar Health CEO Mario Schlosser
Oscar Health CEO Mario Schlosser

A tough first day of trading for Oscar

After pricing at $39 a share Tuesday night, Oscar Health slipped 11% in its first day of trading. Shelby Livingston reports. The shares continued their slide, and are now trading around $32.

Oscar’s debut was a departure from 2020’s string of digital health initial public offerings, in which companies like Amwell, Oak. Street Health, and GoodRx all popped.

Even so, the IPO made a number of key investors in Oscar – including cofounder Josh Kushner – rich. Michael Goodman has the complete rundown here

I’ll be curious to see what awaits Alignment Healthcare, a Medicare Advantage startup with more members than Clover Health. Clover, a rival in the Medicare Advantage health insurance market, went public via SPAC in January. It’s been in the hot seat after a short-seller report, and is currently trading down off where it debuted. 

Alignment on Wednesday filed to go public, and its S-1 shows how it’s narrowing losses while transforming care for the sickest patients, Shelby reports. 

A big question that likely weighed on Oscar’s debut is one Shelby tackled in a smart analysis piece this week. 

Leading up to its public debut, Oscar was just about as good at losing money as it was at raising it. 

Its financials beg the question – Can Oscar ever turn a profit? 

Read the full story here>>

One giant question is swirling around the IPO of hot health insurer Oscar: Can the startup ever make money?


dispatch health 2
DispatchHealth clinicians treat patients in their own homes.

One of digital health’s first 2021 unicorn

Even with Oscar’s disappointing debut, there’s seemingly no slowing down to startup funding. 

This week, top biotech VC Arch Venture Partners and top tech VC General Catalyst filed paperwork to form a SPAC that’ll make a $500 million bet in 2 of the hottest areas of healthcare, Allison DeAngelis reports. 

And we got one of our first digital health unicorns of 2021 after DispatchHealth raised $200 million at a $1.7 billion valuation.

Megan Hernbroth and Blake Dodge got a copy of the (super short) presentation Dispatch used to raise the latest round for its vision of doing hospital-level care at home.

Read the full story here>>

We got an exclusive look at the presentation that convinced Tiger Global and Humana to invest in a startup’s bold vision to do hospitalizations at home at a $1.7 billion valuation


I’ll leave you with this feature from Allison on BridgeBio’s first drug approval. 

The company ran out of money 3 times on its way to the approval. Now, it’s facing its biggest test yet.


Thoughts on reaching a year of lockdowns, tips on news we missed back in March 2020 when every story idea that wasn’t coronavirus-related got tabled? Questions about the jobs we have open?

Reach me at lramsey@businessinsider.com, and you can reach the whole healthcare team at healthcare@businessinsider.com

– Lydia

Read the original article on Business Insider

Oscar fell in its stock-market debut

Hello,

Today in healthcare news: Oscar fell in its stock-market debut, inside DispatchHealth’s latest (short!) pitch deck that it used to reach a $1.7 billion valuation, and the data is in on how vaccine work outside clinical trials.


mario schlosser oscar health
Mario Schlosser, CEO and co-founder of Oscar speaks to guests during the TechCrunch Disrupt event in Manhattan, in New York City, NY, U.S. May 15, 2017.

Oscar Health, the original buzzy health-insurance startup, fell 11% in its IPO. We pored over its 215-page filing to find 4 key takeaways.

Read the full story from Shelby Livingston here>>


dispatch health 2
DispatchHealth clinicians treat patients in their own homes.

We got an exclusive look at the presentation that convinced Tiger Global and Humana to invest in a startup’s bold vision to do hospitalizations at home at a $1.7 billion valuation

Read the full story from Blake Dodge and Megan Hernbroth here>>


Pfizer vial
The arrival of coronavirus vaccines means people have started hawking so-called “vaccines” on the Dark Web.

The data is in: COVID-19 vaccines are proving to be crucial in curbing the pandemic by slashing infections, hospitalizations, and deaths

Read the full story from Andrew Dunn here>>


More stories we’re reading:


– Lydia 

Read the original article on Business Insider

Oscar Health falls 9% in trading debut as valuation hits $9 billion

Oscar Health employees
Oscar Health employees


Oscar Health fell as much as 9% in its IPO trading debut on Wednesday, giving it a valuation of about $9 billion.

Oscar had priced its IPO at $39 per share, selling 37 million shares $1 higher than its previously targeted offering range of $36-$38. Oscar had originally planned to sell 31 million shares at a price between $32-$34 in its initial IPO filings. The firm raised $1.4 billion in proceeds from the offering. 

Shares of Oscar traded down $3.51 to $35.48 in its opening trade.

The company utilizes a technology platform to offer individual, family, and Medicare Advantage health insurance plans for more than 500,000 members. The platform offers several telemedicine services and more transparent billing information. 

Oscar has yet to reach profitability. The health insurance firm saw its net loss widen to $406.8 million in 2020 from $261.2 million in 2019.

Oscar trades on the New York Stock Exchange under the ticker symbol “OSCR.”

The decline in Oscar shares comes amid broader weakness in the stock market, as investor excitement towards an economic reopening and a sharp rise in interest rates has helped fuel a rally in cyclical stocks at the expense of higher-growth stocks in the technology and healthcare sectors. 

Oscar is based in New York and was founded in 2012 by co-founder Joshua Kushner, the brother of former President Donald Trump’s son-in-law and White House advisor Jared Kushner, along with CEO Mario Schlosser and Kevin Nazemi.

Some early investors in Oscar include Alphabet, Fidelity, and Khosla Ventures, among others. Goldman Sachs, Morgan Stanley, and Allen & Co. helped bring Oscar Health public. 

Read the original article on Business Insider

The US should have enough vaccines for every adult by May

Hello,

Oscar Health is set to make its stock-market debut on Wednesday after pricing its initial public offering on Tuesday night. The company is selling more than 37 million shares at $39 apiece, raising $1.4 billion. That values Oscar at $9.7 billion ahead of trading. 

As we wait for Oscar to start trading, Shelby Livingston has everything you need to know about the company, and some smart analysis on whether Oscar can ever make money

Also in healthcare news: Biden’s plan to have enough vaccines for every adult has me excited about this summer, a top biotech VC and a top tech VC are getting together on a SPAC, and why people who have already had COVID-19 might only need one dose. 


Biden
President Joe Biden speaks during a meeting with labor leaders in the Oval Office of the White House, Wednesday, Feb. 17, 2021, in Washington

Biden announces the US will have enough vaccines for ‘every adult in America’ by the end of May

Read the full story from Eliza Relman and Sonam Sheth here>>


General Catalyst Hemant Taneja
Managing Director of General Catalyst Hemant Taneja speaks onstage during TechCrunch Disrupt SF 2016 at Pier 48 on September 14, 2016.

A top biotech VC and a top tech VC are making a $500 million bet in 2 of the hottest areas of healthcare

Read the full story from Allison DeAngelis here>>


covid-19 vaccine vial pfizer biontech

People who’ve had COVID-19 might only need one vaccine jab – and saving shots on them could free up millions of doses for others

Read the full analysis from Dr. Catherine Schuster-Bruce here>>


More stories we’re reading:


– Lydia

Read the original article on Business Insider

The one big question surrounding Oscar Health ahead of its IPO

Hello, 

Today in healthcare news: The one big question surrounding Oscar Health as it gears up for its IPO, BridgeBio gets its first FDA approval, and how retailers are changing their plans to take on the healthcare industry


Oscar Health CEO Mario Schlosser
Oscar Health CEO Mario Schlosser

One giant question is swirling around the IPO of hot health insurer Oscar: Can the startup ever make money?

Read the full analysis from Shelby Livingston here>>


Neil Kumar BridgeBio
Neil Kumar, CEO of BridgeBio

A new kind of biotech upstart inspired by a top MIT finance professor received a crucial validation, and rivals are now copying its strategy. BridgeBio’s CEO says it’s just getting started.

Read the full story from Allison DeAngelis here>>


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The Walmart Health team in Loganville, Georgia.

How companies like Walmart and Best Buy have curtailed their ambitions to upend the $3.8 trillion healthcare industry

Read the full story from Patricia Kelly Yeo here>>


More stories we’re reading:


– Lydia

Read the original article on Business Insider