Mar 14, 2017

Adeptus Health ponders a sale

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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.

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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.

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Netanyahu says July 1 deadline for West Bank annexation won't change

Photo: Artur Widak/NurPhoto via Getty Images

Israeli Prime Minister Benjamin Netanyahu said Monday at a Likud Party faction meeting at the Knesset, Israel's parliament, that his July 1 deadline for starting the process of annexation in the West Bank will not change, according to people in attendance.

Why it matters: The White House and the State Department have stressed over the last few weeks that the deadline set by Netanyahu is "not sacred" to the Trump administration — and that any discussion of annexation needs to be in the context of renewed Israeli-Palestinian peace talks.

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Trump threatens to move Republican convention from North Carolina if capacity reduced

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President Trump threatened in a series of Monday tweets to move this summer's Republican National Convention from Charlotte if North Carolina's Democratic governor, Roy Cooper, doesn't allow the event to be held at full capacity.

The state of play: Mandy Cohen, the state's health and human services secretary, said last week that the GOP should "plan for the worst" as mass gatherings will be a "very big challenge" if the number of coronavirus cases in the state continues to increase, per NPR.

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The wreckage of summer

Illustration: Sarah Grillo/Axios

We usually think of Memorial Day as the start of the summer, with all of the fun and relaxation that goes with it — but this one is just going to remind us of all of the plans that have been ruined by the coronavirus.

Why it matters: If you thought it was stressful to be locked down during the spring, just wait until everyone realizes that all the traditional summer activities we've been looking forward to are largely off-limits this year.

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