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CVS is seeking a buyer for BSwift, the benefits technology business it acquired eight years ago, sources told Sarah Wednesday.

What's happening: A Goldman Sachs-run divestiture process is well into its second round, sources say.  

1. CVS' divest of BSwift well underway

A new startup called Power, which aims to spark diversity in clinical trials with user-friendly search tools, raised $7 million in seed funding, cofounder Brandon Li told Erin exclusively on Tuesday. 

Why it matters: Ninety-seven percent of U.S. patients and providers never participate in a clinical trial, with the majority of such research located at prestigious, difficult-to-access academic medical centers.  

2. Power jolts $7M into clinical trials

Four months after going private, SOC Telemed is back on the M&A train, acquiring Forefront Telecare and renaming the combined acute care telemedicine provider Access TeleCare, the parties told Sarah exclusively on Thursday. 

Why it matters: By uniting with Forefront, SOC gains the additional wherewithal needed to tackle what CEO Chris Gallagher says its hospital customers ask for most: more access to virtual behavioral health services.  

 3. SOC Telemed buys Forefront Telecare

A cellphone resting on a therapist's couch

LifePoint Health acquired from REIT Medical Properties Trust a majority stake in the operating company of psychiatric hospital organization Springstone for $250 million, MPT announced on Monday. 

Why it matters:  Unlike with most REIT transactions, MPT took on the underwriting risk when it acquired all of Louisville-based Springstone back in 2021 — and today's transaction proves the utility of that strategy.

4. MPT unloads Springstone operating business

GIF showing two hospital buildings coming together

Reproduced from Rock Health; Chart: Axios Visuals

Almost one-third of menstruating respondents used at least one digital tool to track their periods and/or fertility, Rock Health found in a new report on digital period tracking. 

Why it matters: The personal right to privacy was embedded in Roe v. Wade, and its reversal is already threatening those protections — including when it comes to the use of digital products that track fertility and ovulation, the Rock Health analysts note.

5. Chart of the week: Digital period tracking

Situational awareness: Hello! George Moriarty, senior editor for Axios Pro Deals, here with a quick update on our Axios Pro Deals publishing schedule.

Beginning today, we will send a digest of each week's Pro newsletters every Friday. The digests will feature the biggest story from each day and give a link to that day's full newsletter.

This change comes in response to consistent reader feedback that you want a digest of deals each week in addition to more special projects and in-depth reporting.

These digests will bring you a roundup of the week's deals news in one place. And keep your eyes peeled for new projects from our amazing journalists.

Comments? Questions? New ideas? Email or tweet at me!

Enjoy your long weekend! Sarah and Erin will be back on Tuesday!

September 02, 2022

1. CVS' divest of BSwift well underway