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An orthopedic and medical device maker is moving its U.S. headquarters to Middle Tennessee, with plans to create 50 jobs over the next five years. Medacta USA will invest $2.5 million to relocate its operations from Chicago to Franklin, according to a state news release. In addition to its headquarters, Medacta will open a development lab. Medacta is leaving Chicago to be near the companies that make up Music City’s $47 billion health care industry, according to the release.
Verily Life Sciences, an Alphabet company, launched the Baseline Health System Consortium in collaboration with six U.S. health systems to help make clinical research more accessible for patients, clinicians and researchers. Along with Verily, the consortium comprises Rochester, Minn.-based Mayo Clinic, Duke University Health System in Durham, N.C., Nashville, Tenn.-based Vanderbilt University Medical Center, University of Mississippi Medical Center in Jackson, Rapid City, S.D.-based Regional Health and the University of Pittsburgh.
Both houses in the Tennessee legislature unanimously passed a bill establishing a separate benefit for complex rehab technology products provided through Medicaid. CRT products—including wheelchairs—are designed to meet the unique needs of individuals with disabilities and profound healthcare challenges. In practical terms, the legislation designates CRT as its own category, protecting it from future across-the-board budget cuts. This protective language is important because, over the past decade, Tennessee has passed numerous budget cuts to durable medical equipment, including CRT.
The Trump administration on Thursday released a final rule aimed at boosting transparency of drug costs on Medicare Part D, but it does not include a proposal to pass on price concessions negotiated by the pharmacy to patients. While the agency had wanted to implement the new policy in 2020, the CMS said in a release that it is not implementing it after receiving more than 4,000 comments.
Atlanta's Noro-Moseley Partners Closes Oversubscribed Eighth Fund at $180M, Projects Up To 20 Investments
Atlanta-based Noro-Moseley Partners has closed on an oversubscribed eighth fund (NMP VIII) to invest in growing healthcare technology and software companies. At $180 million, this is Noro-Moseley’s largest fund since the dot-com boom and one of the largest active funds in the Southeast. Noro-Moseley General Partner Alan Taetle and Managing General Partner Allen Moseley have worked together for two-plus decades to refine their model and investment thesis. Since their start, they have invested over $800 million in 200-plus companies.
