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Business Valuation Orange County
Discover expert business valuation services in Orange County to accurately assess the worth of your enterprise. Our professionals utilize robust methodologies and industry insights to provide comprehensive evaluations tailored to your specific needs. Gain clarity on your company's value and make informed decisions with confidence. Trust our Orange County-based team for reliable business valuation solutions tailored to your unique circumstances.
#business appraisal florida#business valuation orange county#los angeles business valuation#business valuation california#business appraisal phoenix#phoenix business valuation
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First Choice Business Brokers Irvine: Your Partner in Navigating Irvine’s Business-for-Sale Market
Irvine, California, is known for its thriving economy, diverse industries, and prime location within Orange County. Whether you're a seasoned entrepreneur or a first-time buyer, finding the right business opportunity in this bustling city can be a daunting task. That’s where First Choice Business Brokers Irvine comes in — your trusted partner in navigating the competitive business-for-sale market in Irvine.
Why Irvine is a Hotspot for Business Buyers
Irvine has long been recognized as one of the most desirable places to live and work in Southern California. With its robust infrastructure, business-friendly environment, and access to top talent, it’s no wonder that entrepreneurs from various industries are eager to establish or expand their ventures here. The city boasts a mix of technology companies, retail stores, restaurants, healthcare providers, and more, creating a wealth of opportunities for prospective business buyers.
The Challenges of Buying a Business in Irvine
While Irvine presents a wealth of opportunities, the process of buying a business can be complex. Understanding market trends, valuing a business accurately, and negotiating terms are just a few of the challenges buyers face. Additionally, navigating the legal and financial intricacies of the sale can overwhelm even the most experienced business people.
At First Choice Business Brokers Irvine, we recognize these challenges and are dedicated to guiding our clients through every step of the process. Whether you’re looking to buy a small local restaurant, a large manufacturing company, or anything in between, our team of experienced brokers is here to make the transaction as seamless as possible.
How First Choice Business Brokers Irvine Can Help
First Choice Business Brokers Irvine is a premier brokerage service, specializing in connecting buyers and sellers of businesses. Here’s how we help you succeed in your business-buying journey:
Extensive Listings: We offer a diverse range of businesses for sale in Irvine, across various industries. From service-based companies to retail establishments, our listings provide options to fit every buyer's needs and budget.
Expert Valuations: Determining the fair market value of a business is critical to ensuring a smart investment. Our brokers conduct thorough assessments of each business, examining financial statements, market conditions, and growth potential to provide accurate valuations.
Negotiation Support: The terms of a business sale can significantly impact your future success. Our experienced brokers at First Choice Business Brokers Irvine have the skills to negotiate favorable terms, protecting your interests and ensuring that both parties walk away satisfied.
Confidentiality: We understand the importance of discretion when buying or selling a business. Our processes are designed to protect your privacy and maintain confidentiality throughout the transaction.
Guidance Through the Closing Process: From due diligence to finalizing contracts, we provide hands-on assistance throughout the entire closing process. With First Choice Business Brokers Irvine, you can trust that no detail will be overlooked, ensuring a smooth and successful transition.
Why Choose First Choice Business Brokers Irvine?
Our track record of success and dedication to our clients has made us the leading business brokerage in Irvine. Here’s what sets us apart:
Local Expertise: With deep knowledge of Irvine’s market dynamics, our brokers are well-positioned to identify the best business opportunities in the area.
Tailored Service: We understand that every buyer’s needs are unique. Our team works closely with you to develop a strategy that aligns with your goals and financial capabilities.
Industry Experience: With years of experience facilitating business transactions, our brokers have the insights and connections necessary to ensure successful deals.
Start Your Business Buying Journey with First Choice Business Brokers Irvine
If you’re considering purchasing a business in Irvine, don’t navigate the market alone. Let First Choice Business Brokers Irvine be your trusted partner, offering the guidance and expertise you need to make informed decisions and secure a profitable investment.
Contact us today to explore available business opportunities or schedule a consultation with one of our expert brokers. Together, we can turn your entrepreneurial dreams into reality in the vibrant city of Irvine.
First Choice Business Brokers Irvine 2888 Loker Avenue East #110, Carlsbad, California - 92010 (949) 569-6887 https://irvine.fcbb.com/
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Why a Commercial Appraisal in Inland Empire is Essential for Your Business
Investing in commercial real estate is a significant decision, and understanding a property's value is key to making smart financial moves. If you're considering an investment in the Inland Empire, a commercial appraisal in Inland Empire is critical to ensure you're making the best choices. But what exactly does a commercial appraisal provide, and why is it so important in this fast-growing region?
The Inland Empire: A Rapidly Expanding Real Estate Market
The Inland Empire, encompassing Riverside and San Bernardino counties, has become a booming area for commercial real estate. With an increasing demand for industrial facilities, retail spaces, and office complexes, this region is attracting more attention from investors.
Key Drivers of Growth in the Inland Empire:
Strategic Location: The Inland Empire offers excellent access to major highways, ports, and rail systems, making it a top destination for logistics and distribution centers.
Economic Growth: The logistics sector and e-commerce industries are fueling the rapid expansion of commercial real estate in the region.
Affordable Property: Compared to neighboring areas like Los Angeles and Orange County, property in the Inland Empire is more affordable, drawing in a wide range of investors.
In such a competitive market, getting a commercial appraisal in Inland Empire ensures you know the real value of your property, protecting you from overpaying or underselling.
Why a Commercial Appraisal in Inland Empire is Crucial
A commercial appraisal in Inland Empire provides more than just a price estimate; it offers detailed insights that shape your financial strategy. Whether you're buying, selling, or refinancing, an accurate appraisal can help you make informed, profitable decisions.
What a Commercial Appraisal Covers:
Market Trends: Analyzes local market conditions, including property demand and supply, to give you a clear view of your property's place in the market.
Property Condition: Assesses the physical state of the property, including any required repairs or updates that may impact value.
Comparable Sales: Reviews recent sales of similar properties in the Inland Empire, providing context for setting a fair market price.
Income Potential: Evaluates the future rental income and long-term profitability of the property, offering insights into its financial viability.
Each of these elements plays a critical role in determining the true value of a property, ensuring that your investment decisions are based on accurate and up-to-date information.
Examples of Commercial Appraisal in Inland Empire
The Inland Empire is a hotbed of real estate activity, and several high-profile properties have been appraised in recent years. These examples highlight the region's growth and the importance of accurate property valuations.
Noteworthy Appraisals:
Industrial Warehouses: With the rise of e-commerce, large warehouses in Riverside and San Bernardino have seen a surge in value, making accurate appraisals essential for investors.
Retail Centers: Shopping centers in Ontario and Rancho Cucamonga have undergone appraisals, reflecting the upward trend in property values in these areas.
Office Parks: Appraisals of office complexes in Corona and Riverside have showcased increasing demand for commercial space, leading to higher valuations.
These examples show how a commercial appraisal in Inland Empire provides the necessary data to make informed investment decisions in this rapidly growing market.
Why You Should Hire a Professional Appraiser for Your Commercial Appraisal in Inland Empire
While you may be tempted to rely on estimates or online tools, only a professional commercial appraisal in Inland Empire provides the detailed, accurate valuation needed to protect your investment. Working with a certified appraiser offers numerous advantages.
Benefits of a Professional Appraisal:
Precise Valuation: A professional appraiser offers an in-depth, accurate analysis of your property's value, ensuring you have the right information to make decisions.
Risk Management: An appraisal helps identify potential issues that could affect the property's value, such as necessary repairs or market fluctuations.
Compliance with Regulations: Professional appraisers ensure that all local, state, and federal regulations are met, keeping your transaction legally compliant and hassle-free.
Hiring a seasoned appraiser with experience in the Inland Empire market is the best way to ensure that your property is valued correctly, reducing risks and maximizing your return on investment.
Conclusion: The Importance of a Commercial Appraisal in Inland Empire
The Inland Empire's real estate market is booming, and as property values continue to rise, it's more important than ever to have an accurate understanding of a property's worth. A commercial appraisal in Inland Empire is a key step for investors looking to make sound financial decisions, whether buying, selling, or refinancing a property. By working with a professional appraiser, you ensure that your property's value is determined accurately, giving you the insights you need to succeed in this competitive market. A commercial appraisal is not just a good idea—it's a vital tool for navigating the Inland Empire's dynamic real estate landscape with confidence.
#Commercial appraisal in inland empire#Best commercial appraisal in inland empire#Commercial appraisal in inland empire cost#Moore Real Estate Group
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IRVINE, Calif. — Bob Kelley, former publisher of the Kelley Blue Book — long considered the Bible of used-car valuation — has died at age 96, the Irvine-based company announced Monday.
“For a time, he was the most knowledgeable used car mind in the post-war United States,” Charlie Vogelheim, Kelley’s son-in-law and also a former Kelley Blue Book editor, said in a statement. “He’d drive home at night in the oldest car on the lot just to better understand why it hadn’t sold.”
According to the Orange County Register, Kelley died May 28 at his home in Indian Wells in Riverside County.
Robert Sidney Kelley began working for his family’s Southern California car dealership, which was founded in 1918, at age 15, according to the company. He left to serve in the Navy during World War II, then rejoined the business when he returned home.
Kelley’s uncle, Les, who founded the Kelley Car Company, would create lists of cars he wanted to buy and how much he wanted to pay for them. It was that list, which was initially only used internally, that grew into the Kelley Blue Book, which became the standard publication for car values.
Bob Kelley “took responsibility for appraising and reconditioning hundreds of used cars a month,” according to the company. “He pioneered the evaluation methods common across the auto industry today.”
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Looking for Nashua New Hampshire Business Broker? Our NH Business Brokers help with Business Valuation in NH. To Buy or Sell a Business in New Hampshire, Call 888-854-1249.
CrossRoads Business Brokers is a full-service and top-rated M&A advisor and New Hampshire business broker. We serve buyers and sellers of small to medium-sized businesses in a variety of industries, with a keen focus on professionalism, integrity, and results.
Our Nashua Business Brokers are a team of experienced elite level deal brokers who help clients buy or sell a business in New Hampshire through collaborations with our nationwide network of offices in other states coast to coast. Our extensive footprint serves to effectively draw qualified buyers and sellers nationally. We focus on the often underserved lower middle-market sector of the M&A market, starting with companies with annual sales between $1 million and up to $100 million.
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Invest In An Iron Fence For Lasting Security And Also Long Lasting Charm
As a citadel stands resilient, securing its occupants from the outdoors aspects, so does an iron fencing give a robust obstacle guarding one's home.
These metal guardians offer not just as stalwart protectors but also boost the visual appeal of the landscape they confine.
The combination of sturdiness and style that they use make them a financial investment worth taking into consideration for those seeking to balance protection with elegance.
Iron fences have actually continuously acquired recognition in modern society owing to their ability to stand up to rust and also hold up against severe weather.
Their capability extends past providing security; these obstacles substantially add to the overall aesthetic appeal, therefore raising property worth in time.
Diving deeper right into this topic will certainly reveal why iron fencings are viewed as long-term investments with the ability of using useful returns such as heightened safety and security and long-term charm.
Benefits of Updating to Steel Barriers
The change to metal obstacles offers many advantages, including enhanced durability and aesthetic allure, thereby dramatically augmenting the value and also security of a home.
These frameworks, usually made from robust materials such as iron or steel, are developed to stand up to damaging weather conditions and also other kinds of physical stress.
Along with their impressive toughness, steel fences are immune to decomposing and insect damages-- typical problems that pester wooden obstacles over time.
Furthermore, they require minimal maintenance compared to their wood equivalents, making them a cost-efficient option over time.
Concurrently, the visual attraction associated with metal fencing can not be neglected.
The intricate styles often included on these barriers can substantially boost aesthetic allure-- a crucial variable when it pertains to residential property valuation.
Additionally, metal fences may be personalized according to specific choices or architectural styles of existing frameworks.
Consequently, homeowners have an opportunity not just to reinforce their protection however likewise develop an inviting environment that generates sensations of belonging among neighborhood members.
Eventually, buying a sturdy and visually enticing iron fencing can lead to durable safety and security and withstanding appeal for any type of house or company establishment.
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Foot Mask Market Research Trends Analysis by 2016-2030
The global foot mask market was worth USD 445.5 million in 2020 and is expected to expand with a CAGR of 5.5% over 2022-2030. Due to various growth inducing factors, the business vertical is poised to amass a valuation of USD 4757.53 million by 2030.
A skin care product called a foot mask is used to treat feet. A foot mask typically contains a variety of nutrients and active substances that nourish the feet with the things they need to stay healthy and beautiful. The foot mask is applied on the feet in the same manner as the face mask. Either thick cream or booties can be used as a foot mask. The foot mask dries on its own, removes pollutants from the feet, and increases blood flow to the feet. Additionally, it hydrates, exfoliates, and eliminates odour while also making the skin smooth and supple.
Skin-friendly substances are released when you apply foot masks on your feet and heels. For instance, the coconut milk + verbena exfoliating foot mask contains papain and willow bark extract to exfoliate, lemon, orange, and pumpkin seed extracts to polish feet, and black tea extract and bromelain to soothe and smooth the skin.
The cosmetic industry has recently seen a huge increase in the popularity of foot masks. This is due to the fact that they can cleanse the body, quicken cell renewal, aid in detoxification, exfoliate, and moisturise rough foot skin. Additionally, using a pumice stone and other conventional procedures to remove calluses takes a lot of time and effort; the mask does not.
Get Free Sample Access:- https://wemarketresearch.com/sample-request/foot-mask-market/505/
Global Foot Mask Market- Segmental assessment
By Price
Low
Medium
High
By Application
Personal
Commercial
The personal segment is slated to generate significant returns by 2030 ascribing to the surging disposable income of the masses.
By End User
Male
Female
By Distribution Channel
Online
Offline
The online segment is poised to amass notable gains over the stipulated timeline owing to the rising popularity of e-commerce sales channels.
Top players profiled:-
FX Studio, DR FOOT, Soft Touch Foot Peel, BIOAQUA OFFICIAL STORE, Holika Holika, Holistique Beauty Products Private Limited, TONYMOLY, Natura Siberica, AMOREPACIFIC US Inc., Scholl’s Wellness Co, and Johnson & Johnson Consumer Inc.
Access the Complete Report At:- https://wemarketresearch.com/reports/foot-mask-market/505/
Frequently Asked Questions
What is the growth rate projection for Global Foot Mask Market over 2022-2030?
What are the major factors influencing the expansion trends of the Global Foot Mask Market?
What are the primary segments covered in the Global Foot Mask Market?
What are the major regions present in the Global Foot Mask Market?
Which is the fastest growing region in the Global Foot Mask Market?
About We Market Research
WE MARKET RESEARCH is an established market analytics and research firm with a domain experience sprawling across different industries. We have been working on multi-county market studies right from our inception. Over the time, from our existence, we have gained laurels for our deep rooted market studies and insightful analysis of different markets.
Our strategic market analysis and capability to comprehend deep cultural, conceptual and social aspects of various tangled markets has helped us make a mark for ourselves in the industry. WE MARKET RESEARCH is a frontrunner in helping numerous companies; both regional and international to successfully achieve their business goals based on our in-depth market analysis. Moreover, we are also capable of devising market strategies that ensure guaranteed customer bases for our clients.
Contact Us:
We Market Research
Phone: +1(929)-450-2887
Email: [email protected]
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Citrus Fiber Market Report 2022 Market SWOT Analysis, Key Indicators, Forecast 2030
Global citrus fiber market was worth USD 300 million in 2021 and is anticipated to register a CAGR of 6% over 2022-2030, thereby reaching a valuation of USD 500 million by the end of the analysis timeline.
Citrus fibre, which is taken from orange pulp or peel, is a combination of soluble and insoluble fibre. It serves as dietary fibre and is high in antioxidants. Citrus insoluble fibre has a higher demand in the processed food business because it contains carotene, bioactive substances, polyphenols, and particularly flavonoids. It is one of the dietary fibres that has a number of health advantages, including a decreased risk of diabetes, hypertension, coronary heart disease, and many gastrointestinal (GI) illnesses.
A significant portion of the insoluble dietary fibre in citrus fibre, which is made from orange peel, is soluble fibre. It reduces starch digestion and glucose absorption, among other health advantages. Citrus fibre has a variety of uses in the processed food sector.
Get Free Sample:- https://wemarketresearch.com/sample-request/citrus-fiber-market/38/
Top Key Players:-
Edge Ingredients
FGF Trapani
AMC GROUP
CARGILL INC
Carolina Ingredients
CEAMSA
FIBERSTAR INC
FLORIDA FOOD PRODUCTS
Herbafoods
Citrus Extracts
CP KELCO
Ingredients Nature
JRS Silvateam
LUCID COLLIDS LTD
Nans Products
NATUREX SA
QUADRA CHEMICALS LTD
YANTAI ANDRE PACTIN CO.
Golden Health
Interested in purchasing this Report? Click here:- https://wemarketresearch.com/purchase/citrus-fiber-market/38/?license=single
Frequently Asked Questions (FAQ):
Q1. What will be the Citrus Fiber Market Size From 2022 to 2030?
Q2. What is the CAGR of Citrus Fiber Market?
Q3. How can I get sample report of Citrus Fiber Market?
Q4. Which is the base year calculated in the Citrus Fiber Market report?
Q5. Which are the top companies in the Citrus Fiber Market?
Q6. What are the segments of Citrus Fiber Market?
Q7. What are the key trends in the Citrus Fiber Market report?
About We Market Research
WE MARKET RESEARCH is an established market analytics and research firm with a domain experience sprawling across different industries. We have been working on multi-county market studies right from our inception. Over the time, from our existence, we have gained laurels for our deep rooted market studies and insightful analysis of different markets.
Our strategic market analysis and capability to comprehend deep cultural, conceptual and social aspects of various tangled markets has helped us make a mark for ourselves in the industry. WE MARKET RESEARCH is a frontrunner in helping numerous companies; both regional and international to successfully achieve their business goals based on our in-depth market analysis. Moreover, we are also capable of devising market strategies that ensure guaranteed customer bases for our clients.
Contact Us:
We Market Research
Phone: +1(929)-450-2887
Email: [email protected]
Web: https://wemarketresearch.com/
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Business Valuation Orange County
Business Valuation Orange County offers expert assessments of company worth in Orange County, CA. Our skilled professionals provide accurate valuations tailored to your needs, empowering informed decision-making for investors, sellers, and buyers alike.
#business valuation orange county#los angeles business valuation#business valuation california#business appraisal phoenix#phoenix business valuation#business valuation utah
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Automotive Windshield Market 2021 | Key Findings, COVID – 19 Impact Analysis, Business Trends, Industry Segments, Regional Study, Emerging Technologies and Future Prospects 2023
Market Synopsis:
Windshields in automobiles are used to protect the passengers from dust, wind, and other particles. The growing automotive industry has been witnessing a rise in demand for automobiles. This, in turn, is presumed to support the rising sales in the automotive windshield market. Market Research Future (MRFR) has analyzed the automotive windshield market on the global front in this report. The market is expected to register 7.4% CAGR during the forecast period. Also, it is assessed to value at over USD 14,270 Mn by 2023. The innovations in material used for the production of the product are expected to drive market growth in the years to come. In addition, the rising disposable income is poised to unleash opportunities for the market players.
Market Segmentation:
On the basis of position, the automotive windshield market has been divided into front and rear. The front segment led the market in 2016. It is presumed to witness substantial growth over the next few years.
On the basis of glass type, the automotive windshield market is bifurcated into tempered and laminated. Among these, the tempered segment is projected to exhibit a higher growth rate over the next few years due to increasing demand. The segment held a larger share of the market in 2016. Tempered glass is anticipated to account for higher demand as it is considered safer than any other material in the industry.
By vehicle type, the automotive windshield market has been segmented into light commercial vehicles, heavy commercial vehicles, and passenger cars. Among these, the passenger cars segment is anticipated to hold a larger fraction of market share closely trailed by light commercial vehicles segment.
On the basis of the end market, the automotive windshield market has been divided into OEMs and aftermarket. The OEM segment is expected to lead the expansion of the automotive windshield market in the coming years.
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Regional Analysis:
On the basis of region, the global automotive windshield market has been segmented into North America, Asia Pacific, Europe, and the Rest of the world (RoW). Asia Pacific, at present, dominates the market and is anticipated to expand at a rapid pace in the foreseeable future. The rising disposable income has led to a rise in demand for automobiles. It is poised to drive the growth of the automotive windshield market in the nearby future. The automotive windshield market in Europe is also poised to attain a considerable valuation owing to the presence of a developed automotive industry ion the region.
Competitive Dashboard:
Asahi Glass (Japan), Xinyi Glass (China), Saint-Gobain (France), Fuyao Glass Industry (China), Vitro (Mexico), Sisecam Group (Turkey), Dura Automotive (U.S.), Magna International (Canada), PPG Industries (U.S.), Guardian Industries (U.S.), and Shenzhen Benson Automobile (China) are few of the major players of the automotive windshield market. These players are expected to invest in their product lines for staying ahead of the curve. In addition, the investments in the expansion of their global footprint are expected to boost the existing robust competition among the players of the global market. The share analysis of the market included in the report suggests that the entry of new players. In addition, some of the common growth strategies expected to be employed by these players in the coming years are – mergers & acquisitions, product portfolio development, strategic partnerships, alliances, collaborations, etc.
Industry News:
In November 2019, Auto Glass Week™ has announced its location and dates for 2020. It will be held in Orange County Convention Center in Orlando from September 22nd to 24th.
In August 2019, Safelite, an auto glass company, has announced the acquisition of TruRoad, another auto glass company, as a part of its expansion plan.
Get a FREE Report Sample - https://www.marketresearchfuture.com/sample_request/4956
Key Questions Addressed by the Report
What was the historic market size?
Which segmentation (Product/ Capacity) is driving market?
What will be the growth rate?
How are the key players in this market?
What are the strategies adopted by key players?
TABLE OF CONTENTS
1 EXECUTIVE SUMMARY
2 SCOPE OF THE REPORT
2.1 MARKET DEFINITION
2.2 SCOPE OF THE STUDY
2.2.1 DEFINITION
2.2.2 RESEARCH OBJECTIVE
2.2.3 ASSUMPTIONS
2.2.4 LIMITATIONS
2.3 RESEARCH PROCESS
2.3.1 PRIMARY RESEARCH
2.3.2 SECONDARY RESEARCH
2.4 MARKET SIZE ESTIMATION
2.5 FORECAST MODEL
3 MARKET LANDSCAPE
3.1.1 THREAT OF NEW ENTRANTS
3.1.2 BARGAINING POWER OF BUYERS
3.1.3 THREAT OF SUBSTITUTES
3.1.4 SEGMENT RIVALRY
3.1.5 BARGAINING POWER OF BUYERS
3.2 VALUE CHAIN/SUPPLY CHAIN ANALYSIS
4 MARKET DYNAMICS
4.1 INTRODUCTION
4.2 MARKET DRIVERS
4.3 MARKET RESTRAINTS
4.4 MARKET OPPORTUNITIES
4.5 MARKET TRENDS
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Edibles.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
Media Contact Company Name: Market Research Future Contact Person: Abhishek Sawant Email: Send Email Phone: +1 646 845 9312 Address:Market Research Future Office No. 528, Amanora Chambers Magarpatta Road, Hadapsar City: Pune State: Maharashtra Country: India Website: https://www.marketresearchfuture.com
Browse Complete Report - https://www.marketresearchfuture.com/reports/automotive-windshield-market-4956
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Business Valuation Orange County
Looking for Los Angeles Business Appraisers or Business Valuation Services in Los Angeles? We provide Business Valuation in Los Angeles. Call us for Business Valuation in Orange County.
Our services range from the free “Opinion of Value” to a formal valuation report for the owners of closely held businesses. If you are looking for a business valuation in Irvine, a business valuation in Orange County, business valuation Los Angeles, business valuation San Diego CA, business valuation services Los Angeles, or anywhere in California and the United States, CrossRoads can help. The different types of business valuations offered in collaboration with a qualified third party.
Call CrossRoads Business Brokers at 949-753-2825 or visit our website page - https://crossroadsbusiness.com/business-valuations to know more about “Business Valuation Los Angeles CA”.
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PepsiCo Suspends Political Donations, Citing Capitol Rampage: Reside Updates Right here’s what it is advisable to know: PepsiCo joined corporations which have suspended all political donations after the assault on the Capitol.Credit score…Joshua Brilliant for The New York Occasions PepsiCo introduced on Thursday that it was suspending all donations from its company political motion committee, including to the record of dozens of corporations which have come out with some kind of halt on political giving since final week’s violence on the Capitol. “The peaceable switch of energy is a keystone of the American democratic course of, and we categorically denounce the violence final week that tried to disrupt this course of,” a consultant stated. “In gentle of those occasions, we’re suspending all political contributions whereas conducting a full assessment to make sure they align with our firm’s values and our shared imaginative and prescient going ahead.” Pepsi’s PAC spent $140,000 this election cycle, in response to the Heart for Responsive Politics. In pausing all donations, Pepsi just isn’t going so far as corporations like Walmart and Marriott, which halted donations particularly to the 147 Republicans in Congress who objected to certifying the presidential election end result. It joins corporations like rival Coca-Cola, together with the power large BP and the consulting agency EY, previously Ernst & Younger, in halting donations throughout the board. The brokerage agency Charles Schwab stated this week that it was shutting down its PAC, citing the divisive political surroundings. “I’ve by no means seen the company PAC world react to one thing this uniformly and strongly,” stated Kenneth Gross, a accomplice on the regulation agency Skadden who focuses on marketing campaign finance regulation. “I believe there’s a way of, ‘Let’s not overreact — however we have to do one thing,’” he stated. JPMorgan Chase reported earnings of simply over $12 billion, though the rise was attributed largely to the newly freed funds.Credit score…Justin Lane/EPA, by way of Shutterstock JPMorgan Chase, the most important United States financial institution, ended 2020 on a robust observe, releasing $2.9 billion from an emergency pool of cash, which helped push its revenue 42 p.c larger within the fourth quarter. The financial institution revealed the reserve launch in a report on its fourth-quarter monetary outcomes on Friday, when it reported earnings of simply over $12 billion, though the rise, from the identical interval final yr, was attributed largely to the newly freed funds. The financial institution’s income was 3 p.c larger, at $30 billion, in contrast with the identical quarter a yr in the past. Common recalculations of how a lot cash the financial institution would want to hold on to to be ready for a catastrophe had led to the discharge, JPMorgan’s chief government, Jamie Dimon, stated in a press release accompanying the financial institution’s outcomes, however he added that there was nonetheless a lot extra saved up in case a downturn occurred. “Whereas optimistic vaccine and stimulus developments contributed to those reserve releases this quarter, our credit score reserves of over $30 billion proceed to replicate vital near-term financial uncertainty and can enable us to face up to an financial surroundings far worse than the present base forecasts by most economists,” he stated. The outcomes confirmed that JPMorgan’s retail clients have been busy shopping for homes and automobiles. Mortgages and auto loans rose 20 p.c in contrast with final yr. And on Wall Road, the financial institution’s revenue from inventory buying and selling was 32 p.c larger, whereas earnings from buying and selling in bonds, currencies, commodities and different merchandise have been 15 p.c larger in contrast with the identical interval a yr in the past. Joe Biden’s spending plans have supplied a elevate to markets in current days, however that good feeling misplaced steam on Friday.Credit score…Amr Alfiky/The New York Occasions Wall Road is predicted to fall when buying and selling begins on Friday, because the preliminary enthusiasm about President-elect Joseph R. Biden Jr.’s $1.9 trillion spending plan to handle the influence of the pandemic gave approach to some second ideas about the price of all that borrowing. Mr. Biden, talking Thursday night time, stated his plan would deal with the “actual ache overwhelming the actual economic system,” with cash to quicken the rollout of the coronavirus vaccine, assist for state and native governments to handle funds shortfalls, extra beneficiant jobless advantages and direct funds of $1,400 to people. As virus instances hold climbing in lots of elements of the world, Mr. Biden’s spending plans have supplied a elevate to markets in current days, with the S&P 500 gaining greater than 3 p.c since Jan. 6. However that good feeling misplaced steam on Friday. The benchmark Stoxx Europe 600 was 0.6 p.c decrease on Friday, the FTSE 100 in London misplaced 0.7 p.c, and the DAX in Germany shed 0.6 p.c. Asian inventory markets closed broadly decrease. S&P 500 futures have been predicting a drop of greater than 0.5 p.c when Friday’s session begins. Buyers are wanting carefully on the monumental quantity of borrowing that will likely be essential to finance Mr. Biden’s proposal. Already, Treasury bonds have sunk in worth, and their yields risen. As yields inch up, borrowing prices will rise. That has additionally raised issues about tax will increase to assist underwrite Mr. Biden’s proposal. “There’s the possibility that markets should pay for this within the type of sharply larger rates of interest or tax hikes that might cap fairness valuations,” Jeff Buchbinder, fairness strategist for LPL Monetary, advised Reuters. One other issue which may be weighing on U.S. markets: On Friday, the Commerce Division will launch a tally of retail gross sales for December. Retail gross sales fell in October and November; a poor quantity for December, the peak of the vacation buying season, could be an indication of weak spot within the U.S. economic system, which depends closely on client spending. Oil costs stumbled, with Brent crude, the worldwide benchmark, falling 1.6 p.c, and West Texas Intermediate down 1.4 p.c. On Thursday, the S&P 500 closed 0.4 p.c decrease, weighed down by losses in Apple, Microsoft and different giant tech corporations. A Disneyland parking zone was used as a vaccination web site on Wednesday. The resort has been closed for 10 months due to the pandemic.Credit score…Mario Tama/Getty Photos Disneyland, which has been closed for 10 months due to California’s strict strategy to coronavirus security, alerted annual passholders that it was ending the favored program, which it began providing to hard-core clients within the Nineteen Eighties. The Walt Disney Firm stated it will start issuing prorated refunds within the coming days. Annual passes to Disneyland have been most not too long ago $419 to $1,449, relying on entry and perks. Disney declined to say how many individuals have been enrolled. The Orange County Register estimated in 2018 that Disneyland bought “lots of of 1000’s” annual passes a yr. Partially, this system is ending as a result of Disney expects pent-up demand — from passholders and day friends alike — to far outstrip capability when the points of interest finally reopen. Walt Disney World in Florida returned in July and has been working at 35 p.c capability because the fall. In a letter to passholders, Ken Potrock, president of the Disneyland Resort, cited uncertainty in regards to the period of the pandemic and “anticipated restrictions across the reopening of our theme parks.” “We plan to make use of this time whereas we stay closed to develop new membership choices,” he stated. He gave no replace on when Disneyland would possibly reopen. Disneyland usually attracts greater than 18 million guests per yr; an adjoining Disney theme park in Anaheim, Calif., attracts 10 million. Whole income in 2019 stood at roughly $3.8 billion, in response to analysts. Britain’s economic system declined in November, the earliest sign that the nation is perhaps heading for its second spherical of contraction inside months — a double-dip recession — due to the severity of the second wave of the pandemic and the restrictions which have been imposed on companies and the inhabitants. Gross home product dropped 2.6 p.c in November, when a second lockdown was imposed throughout England, after six consecutive months of financial progress, in response to the Workplace for Nationwide Statistics. That stated, the influence of this second lockdown was a lot much less economically extreme than the closures final spring, when the economic system fell by greater than 18 p.c. The distinction this time was, partially, as a result of the restrictions have been looser and extra companies had tailored: faculties remained open, extra folks may go to their workplaces and plenty of retail and hospitality companies had added supply and pickup companies. The development and manufacturing sectors of the economic system have been the one ones that grew in November, however the general decline was smaller than most economists had forecast. Nonetheless, the financial restoration that many thought would come as soon as vaccinations started has been postponed, at the very least till the spring. A lot of Britain is beneath a 3rd lockdown (longer and stricter than the second), as a extra contagious variant of the virus has strained the well being care system, and economists are forecasting the economic system to contract within the first quarter of 2021. Commerce disruptions created by Britain’s exit from the European Union’s single market and customs union, together with delays, misplaced enterprise, and the halting of some companies, can be anticipated to weigh on the economic system within the first few months of the yr. “We must always count on the economic system to worsen earlier than it will get higher,” Rishi Sunak, the chancellor of the Exchequer, stated in Parliament on Monday. The subsequent day, Andrew Bailey, the governor of the central financial institution, stated the economic system was going through its “darkest hour” and that it was in “a really troublesome interval.” Credit score…J. Scott Applewhite/Related Press A lawmaker in Washington is asking large banks and different monetary companies corporations to cease processing monetary transactions for folks and organizations that participated in final week’s assault on the USA Capitol. Consultant Emanuel Cleaver, a Missouri Democrat who serves on the Home Monetary Providers Committee and is chairman of its subcommittee on nationwide safety, introduced on Thursday that he had written to a commerce group, the Digital Transaction Affiliation, to request the freeze. He additionally requested the group, which represents corporations like Visa, JPMorgan Chase and Sq., to right away cease doing enterprise with anybody who primarily based fund-raising campaigns off the Jan. 6 assault. “Far-right, white-nationalist and related home terror organizations pose an imminent menace to the nationwide safety of the USA and our monetary system,” Mr. Cleaver wrote in a letter on Tuesday to the group’s leaders. “Each effort must be made to establish all terror suspects concerned within the assault, forestall the facilitation of additional legal exercise, and to disrupt their illicit networks.” Mr. Cleaver stated that a number of teams, together with the Proud Boys, the Boogaloo Bois and the Sons of Liberty, which had been documented as contributors within the assault, had already been reduce off from many mainstream fund-raising platforms, however have been nonetheless utilizing “middleman organizations with questionable phrases of service” which may in flip be doing banking and funds enterprise with mainstream corporations. He requested that the affiliation’s members assess their “formal and casual relationships” with the teams and work to chop them off He additionally requested that the group reply to his request by Friday. “We obtained the chairman’s letter and are getting ready our response on how the funds business is addressing criminal activity that occurred final week,” Scott Talbot, a lobbyist for the group, stated in an e-mail on Thursday. Supply hyperlink #Capitol #Citing #Donations #Live #PepsiCo #Political #rampage #Suspends #Updates
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Two Tax Strategies to Consider Ahead of the 2020 Election
Trying to guess how and when the tax code is going to change and plan for those changes now is an impossible task.Most prognosticators guessed correctly that President Trump was going to slash the corporate tax rate in 2017. But the doubling of the estate and gift tax exemption to more than $23 million a couple, from an already generous $11 million, was a bit of a surprise. More so was the elimination of deductions for state and local taxes, which disproportionately hit California and states in the Northeast that have high tax rates.But with a presidential election just a few months away, the game of predicting and analyzing proposals that might affect taxpayers has begun. Most candidates are talking about the big headline-grabbing moves, like health insurance, climate change and infrastructure, as well as the wealth tax that Senators Elizabeth Warren and Bernie Sanders have pitched.What needs to be analyzed for affluent individuals are the potential changes no candidate is talking about: lowering exemptions and raising rates for the estate and gift tax and ending the valuation discount for closely held family businesses, a tax break that allows families to transfer a valuable asset for less than it is worth.The valuation discount can affect any small business that the owner expects to pass to heirs. The current exemption levels for the estate and gift tax are so high that the tax applies to very few people, but both the exemption level and the tax rate could change if the next president wants to raise revenue.This is the first of what I expect will be several columns this year looking at how tax provisions that can be quickly changed by a new president may affect high-net-worth individuals and what they can do to plan for them.First, the estate tax. The current exemption, in effect until 2025, is $11.4 million for an individual and $23 million for a couple. Everything above that is taxed at a rate of 40 percent. Lowering the exemption and increasing the tax rate are on the agenda of many progressive candidates, who see the changes as a way to raise revenue and make a statement against income inequality.The estate tax is high on the list for many candidates because it can fill the tax coffers without affecting a lot of people.Such changes could get pushed through only if the Democratic Party takes back the Senate and keeps control of the House. President Trump faced a similar situation in his first two years in office when the Republican Party held both chambers. Just as he got his 2017 tax overhaul through the budget reconciliation process, a Democratic president could do the same.Planning for what could happen with estate and gift taxes is a challenge. In 2012, the last time the estate and gift tax exemption was predicted to decrease, it was raised instead.“People say exemptions have never gone down,” said Chris Pegg, senior director of wealth planning for Wells Fargo Private Bank. “That’s true. But we’ve never had exemptions this large and we’ve never had candidates talking about wealth redistribution. If you look at some of the dials that are most likely to be turned, I think the estate tax is one of them.”Mr. Pegg said that taking advantage of the high estate tax exemption and the valuation discount around closely held businesses could allow business owners to pass more of their wealth to heirs free of tax. It could also help settle some business issues now, not later when the owners die.“You have a powerful, tax-free way to move money,” said Joanne Johnson, head of the wealth advisory group at J.P. Morgan’s private bank. “Just moving money for the sake of moving money, it’s not impactful. You have to identify your goals — that’s the most important thing.”In certain states, like Connecticut, it may not make sense to plan so aggressively because the state’s estate and gift tax exemption is lower than the federal one. (In Connecticut, those exemptions are set to become equal in 2023.)James Dougherty, a partner in the private client and tax team at the law firm Withers Bergman, advises clients to not rush. “Take a break and leave room in your plan for changes,” he said. “Every day, the I.R.S. is inventing new ways to go after tax planning.”What a Democratic president could do with a stroke of the pen is enforce a section of the Internal Revenue Code that ends valuation discounts for closely held family businesses. The Treasury Department and the Internal Revenue Service under President Barack Obama had proposed regulations that would have disallowed these discounts, which were seen as being overly generous when it came to estate planning.A few months after taking office, Mr. Trump issued an executive order that told the Treasury Department to withdraw the regulations.But advisers have pointed out that the statute eliminating valuation discounts remains on the books and is easy to reinstate. “Those regulations were shelved; they weren’t unwritten,” Mr. Pegg said. “You could reinstruct the secretary of the Treasury to propose them again, and they’d become law in the form of regulations.”Eliminating valuation discounts also has support within the progressive wing of the Democratic Party. “If they have any way to scale back tax rules that benefit the 1 percent, they’re likely to do it,” said Bill Smith, managing director in the national tax office of at CBIZ MHM, an accounting firm. “This is certainly what they’d think of as a ‘1 percent rule.’ It isn’t, in my mind, because it affects all small business.”The discounts were meant to be used by a private business that was owned by several family members. For example: Five people each own a 20 percent stake in a $100 million company. The difficulty they would have selling a stake to a nonfamily member meant it was not really worth $20 million.Generally, 30 percent was considered a reasonable discount for this type of illiquidity. At that level and with the current gift tax exemption, a share in a business worth $33 million could be discounted and put in trust without paying any gift tax.Some planners pushed the discount limit to 40 percent and beyond. A few egregious examples drew the ire of policymakers, like ones where a family partnership was created to hold a basket of marketable securities, whose value was easy to ascertain.Ron Shepard, a small-business owner who lives in Orange County, Calif., is in the process of using various tax structures to pass his family business to his son and daughter. His business, Shepard Brothers, makes cleaners, sanitizers and water treatment products used for food safety.“The tax implications are all part of that equation,” he said. The company is based in California, which has high state taxes on top of federal taxes.The structures to protect those shares are also appealing to individuals. Irrevocable trusts, for example, can allow a business owner to give a share of a business at a discounted valuation and still have it protected from creditors. The business itself can be recapitalized so those shares do not carry a vote. This allows the business owner to have full control over day-to-day decisions while still saving on any future estate tax.Mr. Shepard said it took him nearly 10 years to get to the point where he was ready to begin passing on the business. He realized that he could continue building the business himself and leave it to his children later. But he chose to include them while they were still young, a decision that helped the family build mutual trust, he said. That made the transfer easier.“A lot of people will get the advisory side right, where they can put all kinds of things into all kinds of vehicles to protect it, but that doesn’t teach them how to spend the money,” he said. “The main thing I taught my kids about the business we have is you have to understand the asset and how it works because you’re going to own it one day, even if you don’t work in the business.”That’s easier to plan for than what a tax rate is going to be and when. Read the full article
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Grapefruit Oil Market Growth Trends Analysis and Dynamic Demand, Forecast 2016 to 2030
The global grapefruit oil market is presently valued at USD 385 million. Due to various growth propellants, there industry is reckoned to amass a substantial valuation by 2030, with a CAGR of 4% over 2022-2030.
The subtropical citrus tree that grapefruit comes from is recognised for its sour, bitter, and semi-sweet flavour. The birthplace of grapefruit in the 17th century was Asia. It is a cross between the pomelo and the sweet orange species. Because grapefruit was frequently confused with pomelo, the term "forbidden fruit" was first applied to it. Since it resembles grapes in shape when growing on a tree, grapefruit is how it got its name. Currently, grapefruit is regarded as one of Barbados' seven natural marvels.
Grapefruit oil is made from the fruit's peel and has different varieties depending on the colour. There are red, white, and pink variations that are typically categorised as "white" or "coloured."
An excellent source of vitamin C, as well as other nutrients and phytochemicals, grapefruit is frequently linked to healthy eating and lifestyles.
Its flavour is very acidic and includes grapefruit mercaptan, a sulphur terpene that imparts a sweet, tangy, and occasionally bitter flavour that is somewhat different from the taste of most other citrus fruits.
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Global Grapefruit Oil Market- Segmental assessment
By End Use
Household Care
Healthcare
Cosmetics and Personal Care
The healthcare segment is poised to amass notable gains over the stipulated timeframe owing to the wide array of health benefits offered by grapefruit oil.
By Application
Aromatherapy
Skin Care
Hair Care
By Distribution Channel
Supermarkets/Hypermarkets
Convenience Stores
Specialty Stores
Pharmaceuticals
Online Retail
The online retail segment is expected to generate significant returns over the estimated timeline due to the growing internet penetration across the globe.
Top players profiled:-
Aromaaz International Natural Essential Oils, NOW Health Group, Inc., Mystic Moments UK, Ancient Healing Oils, PRZ, Dève Herbes, Rocky Mountain Oils LLC, AVI Naturals, Botanic Spa Flora Oil, Clamor, Aubrey Organics, Kazima Perfumers, BrownBoi, Moksha Lifestyle Products, Riya Agro Products, India Essential Oils, Florihana Distillerie, VedaOils, Ambre Blends, Naissance Trading, Alabama Essential Oil Company, Citromax Flavors Inc. (Citromax S.A.C.I.), Fischer S/A - Com. Ind. e Agricultura (Citrosuco Paulista SA), Bontoux S.A.S, Citrus and Allied Essences Ltd, Citrus Oleo, Lionel Hitchen Essential Oils Ltd, Young Living Essential Oils LC:, Symrise AG, do Terra International,
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9 Healthcare Companies Who Changed the 2010s
By ANDY MYCHKOVSKY
In order to celebrate the next decade (although the internet is confused whether its actually the end of the decade…), we’re taking a step back and listing our picks for the 9 most influential healthcare companies of the 2010s. If your company is left off, there’s always next decade… But honestly, we tried our best to compile a unique listing that spanned the gamut of redefining healthcare for a variety of good and bad reasons. Bon appétit!
1. Epic Systems Corporation
The center of the U.S. electronic medical record (EMR) universe resides in Verona, Wisconsin. Population of 13,166. The privately held company created by Judith “Judy” Faulkner in 1979 holds 28% of the 5,447 total hospital market in America. Drill down into hospitals with over 500-beds and Epic reigns supreme with 58% share. Thanks to the Office of the National Coordinator for Health Information Technology (ONC) and movement away from paper records (Meaningful Use), Epic has amassed annualized revenue of $2.7 billion. That was enough to hire the architects of Disneyland to design their Google-like Midwestern campus. The other amazing fact is that Epic has grown an average of 14% per year, despite never raising venture capital or using M&A to acquire smaller companies.
Over the years, Epic has been criticized for being expensive, non-interoperable with other EMR vendors, and the partial cause for physician burnout. Expensive is probably an understatement. For example, Partners HealthCare (to be renamed Mass General Brigham) alone spent $1.2 billion to install Epic, which included hiring 600 employees and consultants just to build and implement the system and onboard staff. With many across healthcare calling for medical record portability that actually works (unlike health information exchanges), you best believe America’s 3rd richest woman will have ideas how the country moves forward with digital medical records.
My very first interview out of undergrad was for a position at Epic. I chose a different path, but have always respected and followed the growth of the company over the past decade. In a world where medical data seems like tomorrow’s oil, a number of articles have speculated whether Apple or Alphabet would ever acquire Epic? I don’t buy it. I’m thinking it’s much more likely that 2020 is the first year they acquire a company. How you doing Athenahealth?
2. Theranos
No one can argue Theranos didn’t change the game in healthcare forever… for the worse. I do my best to give all healthcare founders the benefit of a doubt, but Elizabeth Holmes and Ramesh Balwani make that nearly impossible. Turns out that an all-star cast of geopolitical juggernauts on your Board of Directors and the black turtleneck of Steve Jobs is not the recipe for success. Founded by 19-year Elizabeth Holmes, Theranos raised over $700 million at a peak valuation of $9 billion. In retrospect, they have become the poster-child for Silicon Valley’s over-promise and under-deliver mantra. The only problem is that instead of food delivery, their failures resulted in invalid blood testing that could’ve really hurt people.
Despite this failure, the mission and purpose would’ve been tremendously impressive. Cheaper blood tests that require only 1/100 to 1/1,000 the amount of blood that LabCorp or Quest Diagnostics needed. I think the craziest part of the whole saga was that seemingly sophisticated healthcare leaders thirsted for the new technology to beat competitors and improve patient convenience. Before the technology was proved defunct, Theranos convinced Safeway to invest $350 million to retrofit 800 locations with clinics that would offer in-store blood tests. Theranos convinced Walgreens to invest $140 million to develop a partnership that would help beat CVS. Theranos partnered with Cleveland Clinic to test its technology and was working with AmeriHealth Caritas and Capital BlueCross to become their preferred lab provider.
To be clear, they weren’t the first, and won’t be the last healthcare company to fail. I only hope that this extremely well documented (thanks Hollywood) experience has re-focused founders and investors towards building sustainable growth companies that actually help patients live higher quality lives, not just make people money as quickly as possible.
3. One Medical
Thanks to Tom Lee and the One Medical crew, primary care is now investable. Whether you’re talking about private equity or venture capitalists, many have dived head first into the space in search of value-based care treasure. One Medical is the most well-known tech-enabled primary care practice, with 72 clinic locations across seven states, and new locations opening in Portland, Orange County, and Atlanta. The Carlyle Group liked the company so much that it invested $350 million in August 2018, at a reported $1.5 billion valuation. This has led to a number of primary care focused companies (ChenMed, Iora Health, Forward) to amass significant valuations that historically would’ve seemed optimistic. However, the elevation of the primary care provider from the “punter” to the “quarterback” of a patient’s medical journey has lifted all boats.
Interestingly, One Medical has unique differentiators over the traditional primary care competitors. For example, One Medical limits doctors to seeing 16 patients a day, versus the average physician seeing 20-30 patients a day. One Medical also built its own medical records in hopes of a more user friendly experience, instead of outsourcing to practice-based EMRs. One Medical charges $199 annually to each patient to help make up for lower volume, and in return provides same-day appointments, onsite lab draws, and a slick app that allows online appointment scheduling and telehealth consults with providers 24/7. They are also adding capabilities and services to cover mental health and pediatric services to increase revenue.
This change is remarkable. Historically, primary care has been a low-margin business with high administrative and staffing costs, along with physician burnout and regulatory burden. One Medical pioneered the concept of a more modern primary care experience, and I am looking forward to their initial public offering (IPO) targeted for early 2020 and whatever Tom Lee is cooking up at Galileo.
4. Centene
Centene is my favorite health plan to study over the past decade. You would never know that the second largest publicly-traded company headquartered in Missouri was originally started by Elizabeth “Betty” Brinn in Milwaukee, Wisconsin. Under-hyped, which is rare in healthcare nowadays, Centene has quietly grown to become the largest player in both the Medicaid managed care and Affordable Care Act (ACA) exchanges. Under Michael Neidorff’s leadership, Centene now serves 32 states with over 15 million lives and 53,600 employees. They were most recently ranked #51 on the Fortune 500 list. In addition, they are about to grow with the $17.3 billion acquisition of WellCare. Here’s a brief rundown of some major events that demonstrate why I’m so bullish on Centene dominating another decade:
April 2018: WellCare and Centene awarded Medicaid managed care contracts in Florida.
July 2018: Centene acquires Fidelis Care and their 1.6 million New Yorkers for $3.75 billion. This single-handedly gives Centene the leading Medicaid share in the state.
September 2018: WellCare acquires Meridian Health Plan and their 1.1 million lives in Michigan, Illinois, Indiana, and Ohio, for $2.5 billion.
February 2019: Centene and WellCare awarded Medicaid managed care contracts in North Carolina.
December 2019: WellCare awarded Medicaid managed care contract in WellCare (re-procurement underway)
In addition, Texas Medicaid is set to award their STAR contracts for 3.4 million lives between Medicaid and CHIP, of which Centene already won a contract to serve the STAR+PLUS (aged, blind, and disabled population). Seems like a pretty solid guess that Centene will fair pretty well in the STAR RFP rankings. Next decade, I look for Centene to significantly increase their efforts to recruit Medicare Advantage (MA) lives, and I wouldn’t bet against them.
5. Mylan
One word. EpiPen. Mylan, the $10 billion market cap pharmaceutical manufacturer and producer of the epinephrine auto-injector product, EpiPen, became the lightning rod in a consumer and political drug pricing debate in 2016. For those who were living under a rock, here’s the quick recap. Epinephrine auto-injectors are used to treat anaphylaxis (severe allergic reaction). Prior to 2016, Mylan held absolute dominant share of the auto-injector market, hovering around 90% for the first half of the 2010s. The only real competitor was Adrenaclick, produced by Lineage Therapeutics, but they were barely considered a competitor despite having cheaper prices. In 2016, news outlets caught wind of Mylan’s 500% list price increase over a decade ($100 to $600) and a nationwide discussion about drug prices began.
If you asked the Mylan CEO, Heather Bresch, she would tell you that the reason brand EpiPen’s list price increased 500 percent over 7 years is because they invested billions of dollars to significantly increase access in schools and employers across America. These efforts increased the number of EpiPen prescriptions in the U.S. from 2.5 million to more than 3.5 million between 2011 and 2015. She would also tell you that there is a big difference between wholesale acquisition cost price (list price) and net price. This part is often misunderstood by media. The net price takes into account discounts, prescription savings cards, and rebates that Mylan provides to purchasers (PBMs, Employers, Plans). The exact negotiated rebate or discount is different by line of business and organization. However, safe to say that Mylan made a good amount of profit with increasing volume.
At the end of the day, Mylan settled with the U.S. Justice Department for $465 million over claims it overcharged the government. Mylan kept their $600 list price brand EpiPen product with rebates, and added a generic version of EpiPen for $300 list price without rebates and requiring commercial insurance. According to a GoodRx analysis in 2018, the epinephrine auto-injector market now looks much different, with 60% of the market moving to the generic version of EpiPen, 10% of the market remaining with brand EpiPen, and 30% of the market switching to the generic version of Adrenaclick. However, whether generic or brand EpiPen, Mylan makes strong profits and American will continue to discuss the best strategy forward to control drug spend.
6. Evolent Health
First let me caveat. I’ve worked for Evolent Health for the past 5 years and seen it grow from a Series B startup to a publicly-traded company (NSYE: EVH). However, the reason they’re on this list is because Evolent Health has forever changed the game for future value-based care startups. When Frank Williams, Seth Blackley, and Tom Peterson founded the company in 2011 with the help of UPMC Health Plan and The Advisory Board Company, concepts like the Medicare Shared Savings Program (MSSP) did not even exist. Fast forward a decade later, and Evolent Health now serves approximately 3.7 million lives across 35 different U.S. healthcare markets. The mission of Evolent Health is to, “Change the health of a nation, by changing the way healthcare is delivered.” To do this, you need both the technology, clinical, financial, and operational capacity to empower providers to confidently move away from fee-for-service towards fee-for-value.
With the implementation of MACRA and the continued perseverance of CMS under this new administration, value-based care is still full steam ahead (good luck incoming CMMI Director, Brad Smith). Despite the naysayers of value-based care, find me a better way to control medical inflation that is accepted by nearly all healthcare institutions and doesn’t negatively impact patient outcomes, and we can talk. I will mention the importance of “significant” downside risk to actually change provider culture, strategy, and operations. I don’t want the primary purpose of setting up a clinically integrated network (CIN) to be negotiating higher fee-for-service commercial rates for independent physicians aligned to tertiatiary academic medical centers.
I wholeheartedly believe that providers will continue to seek partner options (not vendors with high fees independent of performance) who are not wholly-owned by the large for-profit health plans (Optum…). Of all the available options, Evolent Health is the market leader across a variety of areas. In 2020, I look forward to watching how the 3,000+ Evolenteers push the boundaries of downside risk value-based care with both payers and providers.
7. Livongo
To me, Livongo represents Daenerys Targaryen in Game of Thrones. Not the blood-thirsty character towards the end, but the only person to bring back dragons to the world of Westeros. Except in this example, the dragon is a successful digital health IPO. This was a big deal. Going public rewarded early investors who believed in the nascent digital health and chronic condition space. It allowed public investors an opportunity to peak under the hood of the financials and get comfortable with future economics of the industry. And it provided a legitimacy and a peer valuation to other leading digital health companies like Omada Health. All-in-all, 207,000 members use Livongo for Diabetes management solutions, including a connected glucose monitor, unlimited test strips, and personalized health coaching. This number is expected to grow significantly, with the announcement of a new, two-year diabetes contract with the BlueCross BlueShield Federal Employee Program (FEP). They anticipate the partnership will add an additional $50-60 million in revenue across 2020 and 2021
Livongo has done a brilliant job marketing itself as building a full-stop solution for the 147 million Americans with a chronic condition. According to their estimates, their immediately addressable markets for managing diabetes and hypertension represents a $46.7 billion opportunity. Digging into the unit economics, Livongo estimates that diabetes is worth $900 per patient per year and $468 per patient per year. Since they’re focused on chronic conditions, the business model is subscription-based. In the Q3 quarterly report, Livongo provided full year guidance of $168.5 million on the low end and $169 million on the high end. In either scenario, FY2019 Adjusted EBITDA is projected to lose around $26 million for the year.
Livongo has smartly started with addressing diabetes, given the downstream health impacts of mismanagement of blood sugar and the ability to impact spend with regular insulin, diet, and exercise. They also are very smart to efficiently sell into self-funded large employers using existing channel partners like Express Scripts, CVS, Health Care Services Corporation (HCSC), Anthem, and Highmark BCBS. I know that the stock is down 35% since IPO, but I fundamentally believe chronic conditions are not going away and over time, Livongo will add supplementary clinical programs to expand revenue growth.
8. Optum
UnitedHealth Group is the single largest healthcare company in the world with a $280 billion market cap. It owns UnitedHealthcare, the country’s largest private insurer serving Medicare Advantage, managed Medicaid, employer-sponsored insurance, and ACA exchanges. And yet in 2020, more than 50% of the company’s earning and $112 billion in revenue will come from the lesser known side of the business, Optum. It is difficult to describe Optum because they do so much, but they technically split their business into three units: OptumHealth, OptumInsight and Optum Rx. OptumHealth provides care delivery (primary, specialty, urgent care) and care management to address chronic, complex, and behavioral health needs. OptumInsight utilizes data, analytics, and clinical information to support software, consulting, and managed services programs. OptumRx is a pharmacy benefit management (PBM) to create a more streamlined pharmacy system. In total Optum estimates the U.S. addressable market for its services to exceed $850 billion. If that wasn’t enough, here’s some fun facts why they made the list:
Works with 9 out of 10 U.S. hospitals, more than 67,000 pharmacies, and more than 100,000 physicians, practices, and other providers.
Added 10,000 physicians in the past year, growing its network to 46,000 physicians.
Includes 180,000 team members and serves 120 million customers.
Serves 80% of health plans to reduce total cost of care.
Works with 9 out of 10 Fortune 100 companies.
Pretty remarkable for a business unit that was only technically created in 2011, by merging existing pharmacy and care deliver services into one brand. As chronic disease increases and value-based care is here to stay, Optum is focused on comprehensively treating patients and coordinating their care to improve quality and lower costs. With UnitedHealthcare under the corporate umbrella, Optum has the adequate scale to test any new clinical initiatives before rolling out to other health plans.
9. Purdue Pharma
Purdue Pharma is a privately owned drug company owned by the Sackler Family and most well known for creating OxyContin in 1996. OxyContin represents 90% of Purdue Pharma’s revenue and was aggressively marketed to doctors for use in patients with chronic pain. According to court records, Purdue Pharma has grossed an estimated $35 billion. This is the same prescription painkiller that many experts say fueled the U.S. opioid crisis that has resulted in more than 130 deaths each day after overdosing on opioids. To be clear, the deaths are caused by prescription pain relievers, heroin, and synthetic opioids (fentanyl), however, the initial addiction to opioids is often caused by OxyContin and other prescription drugs. All but two U.S. states and 2,000 local governments have taken legal action against Purdue, other drug makers and distributors.
The Sackler family is the 19th richest family and is well known for supporting the fine arts, including the Sackler Wing at the Metropolitan Museum of Art in New York City where the Ancient Egyptian Temple of Dendur sits. I’ve seen a number of articles persecuting the entire Sackler family, but I want to be a little more nuanced. In 1952, three Sackler brothers (Arthur, Raymond, and Mortimer) bought a drug company called Purdue Frederick. Arthur’s branch of the family got out of the company after his death in 1987. The Raymond and Mortimer branches of Sacklers, who own it, founded affiliate Purdue Pharma in the early 1990s. According to a 2017 article from The New Yorker, there are 15 Sackler children in the generation following the founders of Purdue. Some family members have served on the Board of Directors, while others (most notably descendants from Arthur Sackler who died before OxyContin was invented), have distanced themselves from the company and condemned the OxyContin-based wealth.
Purdue Pharma filed for bankruptcy in September 2019 as part of a tentative settlement related to misleading marketing of the controversial painkiller. The settlement requires the owners of Purdue Pharma and the Sackler family to pay out $3 billion of their own fortune in cash over the next seven years. The only problem is that some family members have reportedly moved $10.7 billion from Purdue Pharma to trusts and holding companies across the world between 2008 and 2017. And all we’re left with is a complicated web of holding companies and offshore bank accounts, ravaged communities, and the leading cause of injury-related death in the U.S.
Andy Mychkovsky is a Director at Evolent Health and the Founder of a healthcare startup and innovation blog, Healthcare Pizza. This post originally appeared on Healthcare Pizza here.
The post 9 Healthcare Companies Who Changed the 2010s appeared first on The Health Care Blog.
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9 Healthcare Companies Who Changed the 2010s
By ANDY MYCHKOVSKY
In order to celebrate the next decade (although the internet is confused whether its actually the end of the decade…), we’re taking a step back and listing our picks for the 9 most influential healthcare companies of the 2010s. If your company is left off, there’s always next decade… But honestly, we tried our best to compile a unique listing that spanned the gamut of redefining healthcare for a variety of good and bad reasons. Bon appétit!
1. Epic Systems Corporation
The center of the U.S. electronic medical record (EMR) universe resides in Verona, Wisconsin. Population of 13,166. The privately held company created by Judith “Judy” Faulkner in 1979 holds 28% of the 5,447 total hospital market in America. Drill down into hospitals with over 500-beds and Epic reigns supreme with 58% share. Thanks to the Office of the National Coordinator for Health Information Technology (ONC) and movement away from paper records (Meaningful Use), Epic has amassed annualized revenue of $2.7 billion. That was enough to hire the architects of Disneyland to design their Google-like Midwestern campus. The other amazing fact is that Epic has grown an average of 14% per year, despite never raising venture capital or using M&A to acquire smaller companies.
Over the years, Epic has been criticized for being expensive, non-interoperable with other EMR vendors, and the partial cause for physician burnout. Expensive is probably an understatement. For example, Partners HealthCare (to be renamed Mass General Brigham) alone spent $1.2 billion to install Epic, which included hiring 600 employees and consultants just to build and implement the system and onboard staff. With many across healthcare calling for medical record portability that actually works (unlike health information exchanges), you best believe America’s 3rd richest woman will have ideas how the country moves forward with digital medical records.
My very first interview out of undergrad was for a position at Epic. I chose a different path, but have always respected and followed the growth of the company over the past decade. In a world where medical data seems like tomorrow’s oil, a number of articles have speculated whether Apple or Alphabet would ever acquire Epic? I don’t buy it. I’m thinking it’s much more likely that 2020 is the first year they acquire a company. How you doing Athenahealth?
2. Theranos
No one can argue Theranos didn’t change the game in healthcare forever… for the worse. I do my best to give all healthcare founders the benefit of a doubt, but Elizabeth Holmes and Ramesh Balwani make that nearly impossible. Turns out that an all-star cast of geopolitical juggernauts on your Board of Directors and the black turtleneck of Steve Jobs is not the recipe for success. Founded by 19-year Elizabeth Holmes, Theranos raised over $700 million at a peak valuation of $9 billion. In retrospect, they have become the poster-child for Silicon Valley’s over-promise and under-deliver mantra. The only problem is that instead of food delivery, their failures resulted in invalid blood testing that could’ve really hurt people.
Despite this failure, the mission and purpose would’ve been tremendously impressive. Cheaper blood tests that require only 1/100 to 1/1,000 the amount of blood that LabCorp or Quest Diagnostics needed. I think the craziest part of the whole saga was that seemingly sophisticated healthcare leaders thirsted for the new technology to beat competitors and improve patient convenience. Before the technology was proved defunct, Theranos convinced Safeway to invest $350 million to retrofit 800 locations with clinics that would offer in-store blood tests. Theranos convinced Walgreens to invest $140 million to develop a partnership that would help beat CVS. Theranos partnered with Cleveland Clinic to test its technology and was working with AmeriHealth Caritas and Capital BlueCross to become their preferred lab provider.
To be clear, they weren’t the first, and won’t be the last healthcare company to fail. I only hope that this extremely well documented (thanks Hollywood) experience has re-focused founders and investors towards building sustainable growth companies that actually help patients live higher quality lives, not just make people money as quickly as possible.
3. One Medical
Thanks to Tom Lee and the One Medical crew, primary care is now investable. Whether you’re talking about private equity or venture capitalists, many have dived head first into the space in search of value-based care treasure. One Medical is the most well-known tech-enabled primary care practice, with 72 clinic locations across seven states, and new locations opening in Portland, Orange County, and Atlanta. The Carlyle Group liked the company so much that it invested $350 million in August 2018, at a reported $1.5 billion valuation. This has led to a number of primary care focused companies (ChenMed, Iora Health, Forward) to amass significant valuations that historically would’ve seemed optimistic. However, the elevation of the primary care provider from the “punter” to the “quarterback” of a patient’s medical journey has lifted all boats.
Interestingly, One Medical has unique differentiators over the traditional primary care competitors. For example, One Medical limits doctors to seeing 16 patients a day, versus the average physician seeing 20-30 patients a day. One Medical also built its own medical records in hopes of a more user friendly experience, instead of outsourcing to practice-based EMRs. One Medical charges $199 annually to each patient to help make up for lower volume, and in return provides same-day appointments, onsite lab draws, and a slick app that allows online appointment scheduling and telehealth consults with providers 24/7. They are also adding capabilities and services to cover mental health and pediatric services to increase revenue.
This change is remarkable. Historically, primary care has been a low-margin business with high administrative and staffing costs, along with physician burnout and regulatory burden. One Medical pioneered the concept of a more modern primary care experience, and I am looking forward to their initial public offering (IPO) targeted for early 2020 and whatever Tom Lee is cooking up at Galileo.
4. Centene
Centene is my favorite health plan to study over the past decade. You would never know that the second largest publicly-traded company headquartered in Missouri was originally started by Elizabeth “Betty” Brinn in Milwaukee, Wisconsin. Under-hyped, which is rare in healthcare nowadays, Centene has quietly grown to become the largest player in both the Medicaid managed care and Affordable Care Act (ACA) exchanges. Under Michael Neidorff’s leadership, Centene now serves 32 states with over 15 million lives and 53,600 employees. They were most recently ranked #51 on the Fortune 500 list. In addition, they are about to grow with the $17.3 billion acquisition of WellCare. Here’s a brief rundown of some major events that demonstrate why I’m so bullish on Centene dominating another decade:
April 2018: WellCare and Centene awarded Medicaid managed care contracts in Florida.
July 2018: Centene acquires Fidelis Care and their 1.6 million New Yorkers for $3.75 billion. This single-handedly gives Centene the leading Medicaid share in the state.
September 2018: WellCare acquires Meridian Health Plan and their 1.1 million lives in Michigan, Illinois, Indiana, and Ohio, for $2.5 billion.
February 2019: Centene and WellCare awarded Medicaid managed care contracts in North Carolina.
December 2019: WellCare awarded Medicaid managed care contract in WellCare (re-procurement underway)
In addition, Texas Medicaid is set to award their STAR contracts for 3.4 million lives between Medicaid and CHIP, of which Centene already won a contract to serve the STAR+PLUS (aged, blind, and disabled population). Seems like a pretty solid guess that Centene will fair pretty well in the STAR RFP rankings. Next decade, I look for Centene to significantly increase their efforts to recruit Medicare Advantage (MA) lives, and I wouldn’t bet against them.
5. Mylan
One word. EpiPen. Mylan, the $10 billion market cap pharmaceutical manufacturer and producer of the epinephrine auto-injector product, EpiPen, became the lightning rod in a consumer and political drug pricing debate in 2016. For those who were living under a rock, here’s the quick recap. Epinephrine auto-injectors are used to treat anaphylaxis (severe allergic reaction). Prior to 2016, Mylan held absolute dominant share of the auto-injector market, hovering around 90% for the first half of the 2010s. The only real competitor was Adrenaclick, produced by Lineage Therapeutics, but they were barely considered a competitor despite having cheaper prices. In 2016, news outlets caught wind of Mylan’s 500% list price increase over a decade ($100 to $600) and a nationwide discussion about drug prices began.
If you asked the Mylan CEO, Heather Bresch, she would tell you that the reason brand EpiPen’s list price increased 500 percent over 7 years is because they invested billions of dollars to significantly increase access in schools and employers across America. These efforts increased the number of EpiPen prescriptions in the U.S. from 2.5 million to more than 3.5 million between 2011 and 2015. She would also tell you that there is a big difference between wholesale acquisition cost price (list price) and net price. This part is often misunderstood by media. The net price takes into account discounts, prescription savings cards, and rebates that Mylan provides to purchasers (PBMs, Employers, Plans). The exact negotiated rebate or discount is different by line of business and organization. However, safe to say that Mylan made a good amount of profit with increasing volume.
At the end of the day, Mylan settled with the U.S. Justice Department for $465 million over claims it overcharged the government. Mylan kept their $600 list price brand EpiPen product with rebates, and added a generic version of EpiPen for $300 list price without rebates and requiring commercial insurance. According to a GoodRx analysis in 2018, the epinephrine auto-injector market now looks much different, with 60% of the market moving to the generic version of EpiPen, 10% of the market remaining with brand EpiPen, and 30% of the market switching to the generic version of Adrenaclick. However, whether generic or brand EpiPen, Mylan makes strong profits and American will continue to discuss the best strategy forward to control drug spend.
6. Evolent Health
First let me caveat. I’ve worked for Evolent Health for the past 5 years and seen it grow from a Series B startup to a publicly-traded company (NSYE: EVH). However, the reason they’re on this list is because Evolent Health has forever changed the game for future value-based care startups. When Frank Williams, Seth Blackley, and Tom Peterson founded the company in 2011 with the help of UPMC Health Plan and The Advisory Board Company, concepts like the Medicare Shared Savings Program (MSSP) did not even exist. Fast forward a decade later, and Evolent Health now serves approximately 3.7 million lives across 35 different U.S. healthcare markets. The mission of Evolent Health is to, “Change the health of a nation, by changing the way healthcare is delivered.” To do this, you need both the technology, clinical, financial, and operational capacity to empower providers to confidently move away from fee-for-service towards fee-for-value.
With the implementation of MACRA and the continued perseverance of CMS under this new administration, value-based care is still full steam ahead (good luck incoming CMMI Director, Brad Smith). Despite the naysayers of value-based care, find me a better way to control medical inflation that is accepted by nearly all healthcare institutions and doesn’t negatively impact patient outcomes, and we can talk. I will mention the importance of “significant” downside risk to actually change provider culture, strategy, and operations. I don’t want the primary purpose of setting up a clinically integrated network (CIN) to be negotiating higher fee-for-service commercial rates for independent physicians aligned to tertiatiary academic medical centers.
I wholeheartedly believe that providers will continue to seek partner options (not vendors with high fees independent of performance) who are not wholly-owned by the large for-profit health plans (Optum…). Of all the available options, Evolent Health is the market leader across a variety of areas. In 2020, I look forward to watching how the 3,000+ Evolenteers push the boundaries of downside risk value-based care with both payers and providers.
7. Livongo
To me, Livongo represents Daenerys Targaryen in Game of Thrones. Not the blood-thirsty character towards the end, but the only person to bring back dragons to the world of Westeros. Except in this example, the dragon is a successful digital health IPO. This was a big deal. Going public rewarded early investors who believed in the nascent digital health and chronic condition space. It allowed public investors an opportunity to peak under the hood of the financials and get comfortable with future economics of the industry. And it provided a legitimacy and a peer valuation to other leading digital health companies like Omada Health. All-in-all, 207,000 members use Livongo for Diabetes management solutions, including a connected glucose monitor, unlimited test strips, and personalized health coaching. This number is expected to grow significantly, with the announcement of a new, two-year diabetes contract with the BlueCross BlueShield Federal Employee Program (FEP). They anticipate the partnership will add an additional $50-60 million in revenue across 2020 and 2021
Livongo has done a brilliant job marketing itself as building a full-stop solution for the 147 million Americans with a chronic condition. According to their estimates, their immediately addressable markets for managing diabetes and hypertension represents a $46.7 billion opportunity. Digging into the unit economics, Livongo estimates that diabetes is worth $900 per patient per year and $468 per patient per year. Since they’re focused on chronic conditions, the business model is subscription-based. In the Q3 quarterly report, Livongo provided full year guidance of $168.5 million on the low end and $169 million on the high end. In either scenario, FY2019 Adjusted EBITDA is projected to lose around $26 million for the year.
Livongo has smartly started with addressing diabetes, given the downstream health impacts of mismanagement of blood sugar and the ability to impact spend with regular insulin, diet, and exercise. They also are very smart to efficiently sell into self-funded large employers using existing channel partners like Express Scripts, CVS, Health Care Services Corporation (HCSC), Anthem, and Highmark BCBS. I know that the stock is down 35% since IPO, but I fundamentally believe chronic conditions are not going away and over time, Livongo will add supplementary clinical programs to expand revenue growth.
8. Optum
UnitedHealth Group is the single largest healthcare company in the world with a $280 billion market cap. It owns UnitedHealthcare, the country’s largest private insurer serving Medicare Advantage, managed Medicaid, employer-sponsored insurance, and ACA exchanges. And yet in 2020, more than 50% of the company’s earning and $112 billion in revenue will come from the lesser known side of the business, Optum. It is difficult to describe Optum because they do so much, but they technically split their business into three units: OptumHealth, OptumInsight and Optum Rx. OptumHealth provides care delivery (primary, specialty, urgent care) and care management to address chronic, complex, and behavioral health needs. OptumInsight utilizes data, analytics, and clinical information to support software, consulting, and managed services programs. OptumRx is a pharmacy benefit management (PBM) to create a more streamlined pharmacy system. In total Optum estimates the U.S. addressable market for its services to exceed $850 billion. If that wasn’t enough, here’s some fun facts why they made the list:
Works with 9 out of 10 U.S. hospitals, more than 67,000 pharmacies, and more than 100,000 physicians, practices, and other providers.
Added 10,000 physicians in the past year, growing its network to 46,000 physicians.
Includes 180,000 team members and serves 120 million customers.
Serves 80% of health plans to reduce total cost of care.
Works with 9 out of 10 Fortune 100 companies.
Pretty remarkable for a business unit that was only technically created in 2011, by merging existing pharmacy and care deliver services into one brand. As chronic disease increases and value-based care is here to stay, Optum is focused on comprehensively treating patients and coordinating their care to improve quality and lower costs. With UnitedHealthcare under the corporate umbrella, Optum has the adequate scale to test any new clinical initiatives before rolling out to other health plans.
9. Purdue Pharma
Purdue Pharma is a privately owned drug company owned by the Sackler Family and most well known for creating OxyContin in 1996. OxyContin represents 90% of Purdue Pharma’s revenue and was aggressively marketed to doctors for use in patients with chronic pain. According to court records, Purdue Pharma has grossed an estimated $35 billion. This is the same prescription painkiller that many experts say fueled the U.S. opioid crisis that has resulted in more than 130 deaths each day after overdosing on opioids. To be clear, the deaths are caused by prescription pain relievers, heroin, and synthetic opioids (fentanyl), however, the initial addiction to opioids is often caused by OxyContin and other prescription drugs. All but two U.S. states and 2,000 local governments have taken legal action against Purdue, other drug makers and distributors.
The Sackler family is the 19th richest family and is well known for supporting the fine arts, including the Sackler Wing at the Metropolitan Museum of Art in New York City where the Ancient Egyptian Temple of Dendur sits. I’ve seen a number of articles persecuting the entire Sackler family, but I want to be a little more nuanced. In 1952, three Sackler brothers (Arthur, Raymond, and Mortimer) bought a drug company called Purdue Frederick. Arthur’s branch of the family got out of the company after his death in 1987. The Raymond and Mortimer branches of Sacklers, who own it, founded affiliate Purdue Pharma in the early 1990s. According to a 2017 article from The New Yorker, there are 15 Sackler children in the generation following the founders of Purdue. Some family members have served on the Board of Directors, while others (most notably descendants from Arthur Sackler who died before OxyContin was invented), have distanced themselves from the company and condemned the OxyContin-based wealth.
Purdue Pharma filed for bankruptcy in September 2019 as part of a tentative settlement related to misleading marketing of the controversial painkiller. The settlement requires the owners of Purdue Pharma and the Sackler family to pay out $3 billion of their own fortune in cash over the next seven years. The only problem is that some family members have reportedly moved $10.7 billion from Purdue Pharma to trusts and holding companies across the world between 2008 and 2017. And all we’re left with is a complicated web of holding companies and offshore bank accounts, ravaged communities, and the leading cause of injury-related death in the U.S.
Andy Mychkovsky is a Director at Evolent Health and the Founder of a healthcare startup and innovation blog, Healthcare Pizza. This post originally appeared on Healthcare Pizza here.
The post 9 Healthcare Companies Who Changed the 2010s appeared first on The Health Care Blog.
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