Issue link: https://beckershealthcare.uberflip.com/i/1252329
85 HEALTHCARE NEWS HCA strikes deal to boost financial flexibility amid COVID-19 pandemic By Alia Paavola N ashville, Tenn.-based HCA Healthcare has inked a deal with two banks that will allow it to take out up to $2 billion in loans if needed as COVID-19 spreads across the U.S. and creates financial uncertain- ties, according to The Nashville Post. HCA struck the deal with Bank of America and Wells Fargo Bank. Under the deal, the hospital operator can take out term loans in two draws before next March. HCA has not withdrawn money yet. HCA leaders said the deal is helping the company build in "financial flexibility in light of the uncertainty resulting from the novel coronavirus pandemic." In addition, HCA is pausing plans on construction proj- ects and will halt buybacks of HCA shares. Last year, HCA spent more than $1 billion on share buy- backs. n Optum targets telehealth provider for $470M acquisition: 5 details By Laura Dyrda O ptum is trying to purchase a virtual therapy pro- vider for $470 million, according to CNBC. Four things to know: 1. Optum, which is part of UnitedHealth Group, is in talks with AbleTo, a New York-based telehealth company fo- cused on mental health services. The company is seeing an uptick in users during the COVID-19 pandemic. 2. There are some insurers that cover AbleTo's main ser- vices and it also offers free tools for managing stress and supporting employees, among others. 3. In 2019, Optum Ventures invested in AbleTo. The com- pany's other investors include Bain Capital Ventures and Aetna. 4. The $470 million transaction values AbleTo at about 10 times forward revenue, according to the report. Neither company provided comment for the report. n The rise of Vision Innovation Partners By Eric Oliver A nnapolis, Md.-based Vision In- novation Partners went through an identity crisis before establishing its current moniker, but the growing mid-At- lantic private equity platform is establishing a stronghold in the region with no plans of stopping. Here's how Vision Innovation Partners came to be: July 2017: Centre Partners invests in Chesa- peake Eye Care, which combines Annapolis, Md.-based Chesapeake Eye Care and Laser Center and Charlotte Hall, Md.-based Whit- ten Laser Eye. November 2017: Chesapeake Eye Care acquires Malouf Eye Center in Camp Springs, Md. January 2018: Chesapeake Eye Care acquires Select Eye Care and its locations in Towson, Md., and Elkridge, Md. Chesapeake Eye Care establishes One Vision Eye Partners and acquires Arlington (Va.) Eye Center. April 2018: Chesapeake Eye Care acquires Hagerstown-based Maryland Vision Institute. September 2018: Chesapeake Eye Care acquires Maryland Eye Associates, with loca- tions in Prince Frederick, and Annapolis. June 2019: Chesapeake Eye Care rebrands as Vision Innovation Partners aer acquiring majority ownership of Wilkes-Barre, Pa.- based Eye Care Specialists. September 2019: Vision Innovation Partners acquires Washington, D.C.-based Washing- ton Eye Specialists. October 2019: Vision Innovation Partners acquires Metropolitan Ophthalmology As- sociates' practices in Chevy Chase, Md., and McLean, Va. December 2019: Vision Innovation Partners acquires Carroll Vision Center, Center for Total Eye Care and Carroll County Surgery Center, all in Westminster, Md. February 2020: Vision Innovation Partners acquires Busack Eye Center in Frederick, Md. March 2020: Vision Innovation Partners acquires Baltimore Eye Physicians. n