Healthcare Biz Insights: ExamWorks BUYS MedHealth, Aetna’s WellStar DEAL
The new prostate cancer drug enzalutimide, which is being jointly developed by Medivation, Inc. (NASDAQ:MDVN) and Astellas Pharma Inc. (ALPMY.PK), has won early FDA approval. The drug was okayed to treat men suffering from prostate cancer that has spread or returned following prior treatment with another drug, docetaxel, will be marketed under the brand name Xtandi. Dendreon Corporation (NASDAQ:DNDN), whose own prostate drug Provenge is seeing slumping sales, traded down in reaction.
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ExamWorks Group, Inc. (NYSE:EXAM) has finalized its cash purchase of MedHealth Holdings for A$93 million, which allows its debut in the independent medical examination services market in Australia. The firm expects the acquisition to be immediately accretive to earnings.
Aetna, Inc. (NYSE:AET) has made a deal Friday for a multi-year contract extension with WellStar Health System. Under the terms, members of Aetna’s commercial plans will be allowed to continue to receive covered services, at in-network rates, at greater Atlanta WellStar hospitals and physicians.
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