Jan 9, 2018

Practice Fusion sells for less than it raised

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AllScripts yesterday said that it will pay $100 million in cash to acquire Practice Fusion, an early electronic health records company that raised over $200 million in venture capital funding (including at a $700 million valuation in 2014).

What happened: Practice Fusion rival eClinicalWorks last May paid $155 million to settle a suit brought regulators in Vermont, for allegedly misrepresenting the capabilities of its software and paying kickbacks to certain customers in exchange for product promotion. AllScripts notes in an SEC filing that Practice Fusion last March received its own document request from those same Vermont authorities, "pursuant to a civil investigative demand."

But Practice Fusion was having unrelated troubles beforehand, having booted its founding CEO in mid-2015 and focusing on small/mid-sized customers that kept getting scooped up by larger systems that didn't integrate with Practice Fusion (i.e., they sold to the least sticky buyers).

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WHO temporarily suspends trial of hydroxychloroquine over safety concerns

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The World Health Organization is temporarily pausing tests of the anti-malarial drug hydroxychloroquine as a coronavirus treatment in order to review safety concerns, the agency's director-general Tedros Adhanom Ghebreyesu said Monday.

Why it matters: The decision comes after a retrospective review published in The Lancet found that coronavirus patients who took hydroxychloroquine or its related drug chloroquine were more likely to die or develop an irregular heart rhythm that can lead to sudden cardiac death, compared to those who did nothing.

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 12 p.m. ET: 5,449,135 — Total deaths: 345,721 — Total recoveries — 2,188,200Map.
  2. U.S.: Total confirmed cases as of 10 a.m. ET: 1,647,741 — Total deaths: 97,811 — Total recoveries: 366,736 — Total tested: 14,163,915Map.
  3. 2020: Trump threatens to move Republican convention from North Carolina.
  4. World: White House announces travel restrictions on Brazil Over 100 cases in Germany tied to single day of church services — Top Boris Johnson aide defends himself after allegations he broke U.K. lockdown
  5. Public health: Officials are urging Americans to wear masks over Memorial Day.
  6. Economy: White House economic adviser Kevin Hassett says it's possible the unemployment rate could still be in double digits by November's election.
  7. What should I do? Hydroxychloroquine questions answeredTraveling, asthma, dishes, disinfectants and being contagiousMasks, lending books and self-isolatingExercise, laundry, what counts as soap — Pets, moving and personal healthAnswers about the virus from Axios expertsWhat to know about social distancingHow to minimize your risk.
  8. Other resources: CDC on how to avoid the virus, what to do if you get it, the right mask to wear.

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Updated 47 mins ago - Politics & Policy

Dominic Cummings: "I respectfully disagree" that I broke U.K. lockdown rules

Photo: Peter Summers/Getty Images

Dominic Cummings, the top aide to British Prime Minister Boris Johnson, defended himself at a press conference Monday against allegations that he broke the U.K.'s coronavirus lockdown rules by traveling to his parents' home last month while exhibiting symptoms.

What he said: "I respectfully disagree. The legal rules do not necessarily cover all circumstances, especially the ones I found myself in," Cummings told the assembled press.