Get the latest market trends in your inbox

Stay on top of the latest market trends and economic insights with the Axios Markets newsletter. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Denver news in your inbox

Catch up on the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Des Moines news in your inbox

Catch up on the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Minneapolis-St. Paul news in your inbox

Catch up on the most important stories affecting your hometown with Axios Minneapolis-St. Paul

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tampa-St. Petersburg news in your inbox

Catch up on the most important stories affecting your hometown with Axios Tampa-St. Petersburg

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Atrium Health is offering to buy a local hospital for $3 billion. Photo: Atrium Health

Hospitals that have pocketed tens of millions of dollars in federal coronavirus bailouts are still pursuing big-ticket mergers and acquisitions.

Why it matters: The pandemic has dried up big parts of hospitals' businesses, and that's why Congress established a $175 billion bailout fund to help them. At the same time, they're spending millions on lawyers and advisers to explore deals that expand their business empires.

Where it stands:

  • Advocate Aurora Health and Beaumont Health are in discussions to merge into a giant hospital system spanning three Midwest states. Beaumont has received more than $550 million so far in coronavirus bailout funds, and Advocate Aurora has received $328 million.
  • Atrium Health, Duke Health and Novant Health are in a multibillion-dollar bidding war to acquire New Hanover Regional Medical Center in Wilmington, N.C. Atrium has pocketed $149 million, Novant has received more than $80 million and Duke has gotten almost $50 million in bailout funds.
  • ProMedica is offering to take over the operations of the University of Toledo Medical Center. ProMedica has received $158 million in coronavirus bailouts.
  • Lifespan and Care New England in Rhode Island have rekindled merger talks. The two systems have combined for more than $64 million in coronavirus funds.

Between the lines: The New Hanover situation, in particular, shows that the pandemic isn't slowing down market expansion, especially if the prize is big enough.

The bottom line: The effects on competition and patients' wallets will live on after the pandemic ends.

Go deeper: The coronavirus could force more doctors to sell to hospitals — or shutter

Go deeper

Sep 17, 2020 - Health

WHO: Health care workers account for around 14% of coronavirus cases

A health worker collecting coronavirus samples in New Delhi on Sept. 16. Photo: Sanchit Khanna/Hindustan Times via Getty Images

Though health workers represent less than 3% of the population in many countries, they account for around 14% coronavirus cases reported to the World Health Organization, the organization announced Thursday.

Why it matters: The WHO called on governments and health care leaders to address threats facing the health and safety of these workers, adding that the pandemic has highlighted how protecting them is needed to ensure a functioning health care system.

Updated Oct 7, 2020 - Health

World coronavirus updates

Expand chart
Data: The Center for Systems Science and Engineering at Johns Hopkins; Map: Axios Visuals

New Zealand now has active no coronavirus cases in the community after the final six people linked to the Auckland cluster recovered, the country's Health Ministry confirmed in an email Wednesday.

The big picture: The country's second outbreak won't officially be declared closed until there have been "no new cases for two incubation periods," the ministry said. Auckland will join the rest of NZ in enjoying no domestic restrictions from late Wednesday, Prime Minister Jacinda Ardern said, declaring that NZ had "beat the virus again."

Dion Rabouin, author of Markets
Updated 3 hours ago - Economy & Business

Our make-believe economy is here to stay

Illustration: Eniola Odetunde/Axios

The Federal Reserve and global central banks are remaking the world's economy in an effort to save it, but have created something of a monster.

Why it matters: The Fed-driven economy relies on the creation of trillions of dollars — literally out of thin air — that are used to purchase bonds and push money into a pandemic-ravaged economy that has long been dependent on free cash and is only growing more addicted.