Plum Healthcare Group Risk Report

⚖️ Legal & Regulatory

Plum Healthcare Group has faced several legal and regulatory challenges in recent years, especially concerning lawsuits and regulatory penalties. These issues highlight significant legal risks for the company, impacting its operations and financial standing. A notable incident is the $30.9 million verdict faced by the company, underscoring the severity of the legal pressures it faces.

• A Northern California facility of Plum Healthcare Group was required to pay $30.9 million in a wrongful death lawsuit 🗓 October 30, 2023.
• A jury in Northern California returned a $30.9 million verdict against Plum Healthcare and its skilled nursing facility 🗓 January 27, 2023.
• In July 2024, Plum Healthcare Group settled a labor violation case for $10 million 🗓 July 19, 2024.

👥 Labor & Workforce

Plum Healthcare has experienced workforce changes, including layoffs, which are critical factors of concern for employees. The company has shown patterns of restructuring, which might be related to financial streamlining or adjustments in operational models.

• The insurtech firm, backed by Tiger Global, laid off part of its workforce 🗓 November 9, 2022.

🏗️ Operational & Business Continuity

Operational challenges are evident at Plum Healthcare, as indicated by past litigations and settlements. Maintaining business continuity amidst such disruptions is an area that requires strategic focus.

• Plum Healthcare faced over 50 lawsuits, as reported by the attorney general 🗓 June 29, 2022.

📜 Innovation & R&D

Innovation and R&D efforts at Plum suggest a focus on broadening services and enhancing healthcare solutions. This might diversify their portfolio and help mitigate risks associated with their current operational focus.

• ICU Medical introduced a new category of infusion devices, including Plum Solo™ and Plum Duo™ precision IV pumps, cleared by the FDA 🗓 April 7, 2025.
• In a strategy move, PACS revealed plans to go public and diversify its healthcare solutions 🗓 March 15, 2024.