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Reuters exclusively reported UnitedHealth Group Inc, the top U.S. healthcare company by market capitalization, is struggling to sell Brazilian unit Amil due to antitrust issues and growing losses from individual health plans. After studying ways to divest Amil 10 years after acquiring it, UnitedHealth decided last month to suspend the sale process, asking for anonymity because the discussions were private.
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Reuters was first to report that Indian drug and medical services startup PharmEasy is in talks with investors to raise $200 million, but at a valuation that could be 15% or even 25% lower than last year’s $5.1 billion. Indian startups have been jolted by uncertain global and domestic stock markets and growing investor skepticism over what they say are sky-high valuations, making it difficult for PharmEasy to raise funds at same or a higher valuation.
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Reuters offered readers a deep dive into how the diversion of resources into what China calls its ‘zero-COVID’ approach to contain and eliminate the virus forced hospitals to suspend many services it relied upon for revenue, sealing its financial failure. The world’s second-largest economy remains behind several parts of the world by many healthcare measures and is in the middle of a ‘Healthy China’ programme that aims to raise average life expectancy to 79 from 76 by 2030, while increasing survival rates for cancer and other chronic illnesses. Zero-COVID may actually make those goals harder to reach.
The post Reuters reveals COVID and bust: China’s private health system hurt by tough coronavirus controls appeared first on Reuters News Agency.
Reuters reported that China’s ‘zero-COVID’ policy of constantly monitoring, testing and isolating its citizens to prevent the spread of the coronavirus has battered much of the country’s economy but has created bubbles of growth in the medical, technology and construction sectors. The Chinese government, alone among major countries in vowing to eradicate the coronavirus within its borders, is on track to spend more than $52 billion this year on testing, new medical facilities, monitoring equipment and other anti-COVID measures, which will benefit as many as 3,000 companies, according to analysts.
The post Reuters reveals China’s anti-virus spending boosts medical, tech, construction appeared first on Reuters News Agency.