United Health Systems launches $1.5B health care investment plan

UNITED HEALTH SYSTEMS is the latest high-tech health-care company to announce it will invest at least $1 billion to expand its health-services footprint.

The company will announce the news Thursday in New York City, the company said in a statement.

United Health is a private company that was founded in 1999 by billionaire investor Peter Lynch and former IBM executive David Einhorn.

UnitedHealth is based in Dallas and has operations in Texas, Florida and California.

United Healthcare plans to spend $600 million in capital and other assets to expand operations across the United States, United Health CEO and president David Gershman said in the statement.

The UnitedHealth investment will be focused on expanding its network of more than 600 health-related businesses.

United will also spend $300 million to buy additional medical devices, UnitedHealth CEO and chief financial officer Stephen J. Krasner said in an interview.

United plans to use its existing investments to expand the healthcare delivery system and improve the quality of care, he said.

The U.S. health care system is in dire straits.

The national health-cost index, which is the percentage of Americans who live in poverty, is about 50 percent higher than it was in 2000, according to a recent study by the University of Michigan’s Annenberg Public Policy Center.

United has about 3.4 million members, and UnitedHealth operates about 10 million private health-insurance plans.

The stock is up nearly 12 percent since Lynch bought the company in 1999, when it had a market value of $8.9 billion.

Lynch is also chairman and CEO of the New York Jets football team.

The New York Times first reported UnitedHealth’s plan to spend at least that much.

Cone Health System is shutting down amid budget woes

The Cone health system is shutting its doors following a funding shortfall.

Cone Health is the only ConeHealth network in the US.

Creex Health, which is run by Cone Healthcare, is the sole provider of ConeCare, which covers about 40,000 residents of Dallas-Fort Worth, Texas.

In a statement released on Friday, Cone said it was shutting down because of the need to meet its full staffing needs, as well as to make investments to improve the quality of care.

“While we will continue to operate as a provider of services, our business is under pressure and we have to make tough decisions to survive,” Cone CEO John Bittner said in the statement.

“We believe our commitment to our community and our members will continue, but the need for immediate financial resources must now be addressed.”

The announcement came days after the Dallas County Board of Supervisors approved a budget for the 2018-19 fiscal year that included $1.8 million for Cone, according to local media reports.

The Cone network includes more than 1,200 health facilities across the US, including more than 2,500 in Dallas, Dallas-Ft Worth, Dallas, Fort Worth and Plano, Texas, according the company.

Coon is the second Cone healthcare system to be shut down.

The largest health system in the state, CPO Health, announced it would close its doors on June 30, 2017.

Cisco Systems, the largest US wireless company, said it would shut down its Dallas network on July 1, 2017, following the closure of its Fort Worth-area facilities in late 2017.

The Dallas County Health and Human Services Department is also seeking help from the Federal Communications Commission and other federal agencies, and the Texas Health and Safety Commission.