Mar 14, 2017 - Health

Adeptus Health ponders a sale

GIPHY

Things have gotten so bad at Adeptus Health that the emergency room chain has hired a chief restructuring officer and retained investment bank Houlihan Lokey to help explore "various strategic alternatives," the company disclosed in a federal filing. Adeptus, backed by private-equity firm Sterling Partners, still hasn't released its 2016 financial documents.

If Adeptus chooses to sell and is able to find a buyer, which is far from guaranteed given its precipitous fall since its initial public offering in 2014, it would likely sell for pennies on the dollar. Adeptus' stock cratered to an all-time low of $1.48 on Tuesday, its market cap is $21 million today compared with a high of $2.5 billion in 2015, and it is facing class-action securities lawsuits.

Expand chart

Data: Money.net; Chart: Andrew Witherspoon / Axios

The lesson: Adeptus heralded freestanding emergency rooms as a more convenient way to get care, but the facilities have been expensive to run and have led to exorbitant charges for some patients.

Go deeper

Maria Arias
35 mins ago - World

"I stood up for that": Pope Francis voices support for same-sex civil unions

Pope Francis at St. Peter's Basilica in Vatican City. Photo: Vatican Pool - Corbis/Corbis via Getty Images

Pope Francis voiced his support for same-sex civil unions for the first time as pope in the documentary “Francesco,” which premiered Wednesday at the Rome Film Festival, per the Catholic News Agency.

Why it matters: The pope’s remarks represent a break from the position of the Roman Catholic Church, which has long taught that homosexual acts are “intrinsically disordered" and contrary to natural law.

Go deeper (1 min. read)Arrow
Barak Ravid, author of from Tel Aviv
2 hours ago - World

Countries waiting to see if Trump wins before moving on Israel normalization

The delegation lands at Israel's Ben Gurion airport. Photo: Jack Guez/AFP via Getty

The White House is attempting to leverage momentum from Israel's normalization deals with Bahrain and the UAE to get more Arab countries on board before the U.S. election.

Driving the news: President Trump wants Sudan's removal from the U.S. state sponsors of terrorism list to be accompanied by a pre-election announcement on Israel.

Go deeper (1 min. read)Arrow
Orion Rummler
3 hours ago - Politics & Policy

Poll: 92% of battleground state voters are "extremely motivated to vote"

Voters stand in line at the Metropolitan Multi-Services Center in Houston, Texas, on Oct. 13. Photo: Mark Felix for The Washington Post via Getty Images

91% of likely voters nationally say they are "extremely motivated to vote," including 92% in battleground states Arizona, Florida, Michigan, North Carolina, Pennsylvania and Wisconsin, according to a Change Research/CNBC Poll.

Why it matters: The 2020 election could see record-breaking levels of voter turnout. Voters last week cast ballots at nearly five times the rate they did at this point in the 2016 election, per the U.S. Elections Project. Over 39 million ballots have been cast in early voting states as of Wednesday.

Go deeper (1 min. read)Arrow