Reed Saxon / AP

NantWorks, the genomics and health technology company founded by billionaire doctor Patrick Soon-Shiong, has acquired a majority stake in the management company that operates Verity Health System — a network of six hospitals that predominantly treats the poor and teetered on the brink of bankruptcy a couple years ago. BlueMountain Capital Management, the hedge fund that bought Verity, will maintain a minority interest and put up extra funding.

Why it matters: Soon-Shiong (also a part owner of the Los Angeles Lakers and Tronc newspaper chain) is a controversial character. STAT and Politico recently reported numerous instances of Soon-Shiong overhyping medical claims and potentially engaging in self-dealing.

A NantWorks spokesperson did not say why Soon-Shiong was making this investment, but the news release quotes him as saying he wants to bring "breakthrough treatments and cures." In other words, Verity could be a gateway for the tests and treatments Soon-Shiong's company offers, even though little is known about their costs and efficacy. Soon-Shiong will sit on Verity's board.

Go deeper

Trump's Tucker mind-meld

Photo illustration: Sarah Grillo/Axios. Photo: Roy Rochlin/Getty Images and BRENDAN SMIALOWSKI/AFP via Getty Images

If you want to understand the rhetorical roots of Trump's Independence Day speech at Mount Rushmore, go back and watch Tucker Carlson's monologues for the past six weeks.

Between the lines: Trump — or rather his speechwriter Stephen Miller — framed the president's opposition to the Black Lives Matter protest movement using the same imagery Carlson has been laying out night after night on Fox.

Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 6 p.m. ET: 11,366,145 — Total deaths: 532,644 — Total recoveries — 6,154,138Map.
  2. U.S.: Total confirmed cases as of 6 p.m. ET: 2,874,396 — Total deaths: 129,870 — Total recoveries: 906,763 — Total tested: 35,512,916Map.
  3. States: Photos of America's pandemic July 4 ICU beds in Arizona hot spot near capacity — Houston mayor warns about hospitals
  4. Public health: U.S. coronavirus infections hit record highs for 3 straight days.
  5. Politics: Former Trump official Tom Bossert says face masks “are not enough”
  6. World: Mexican leaders call for tighter border control as infections rise in U.S.
  7. Sports: Sports return stalked by coronavirus
  8. 1 📽 thing: Drive-in movie theaters are making a comeback.

Bolton's hidden aftershocks

Photo illustration: Sarah Grillo/Axios. Photo: Justin Sullivan/Getty Images

The news media has largely moved on, but foreign government officials remain fixated on John Bolton's memoir, "The Room Where It Happened."

Why it matters: Bolton's detailed inside-the-Oval revelations have raised the blood pressure of allies who were already stressed about President Trump's unreliability.