Westmed Medical Group Risk Report

🛡️ Financial & Liquidity

Westmed Medical Group has experienced significant financial activities primarily focused on mergers and acquisitions. The group's financial activity suggests strategic moves to enhance business operations and partnerships, reflecting its efforts to expand and sustain operations.

• Westmed Medical Group was acquired by Summit Health 🗓 2022-01-27.
• Summit Health added Westmed Medical Group and New Jersey Urology to expand its connected care model 🗓 2022-01-19.
• Summit Health made further expansions with deals involving Westmed Medical Group 🗓 2022-01-19.
• Westmed Medical Group formed a partnership for medical services in Fairfield, Westchester, and Putnam Counties 🗓 2020-02-18.

⚖️ Legal & Regulatory

The company has faced some legal challenges, evidenced by involvement in lawsuits. These legal matters could imply potential risks to the brand or financial standing, necessitating careful management.

• An orthopedic surgeon demanded $6 million from Summit Health, which could have legal implications for Westmed Medical Group 🗓 2024-07-31.
• The largest ever malpractice verdict in Westchester amounted to $23.3 million against a medical center, illustrating potential sector-wide legal risks 🗓 2024-05-28.
• A malpractice lawsuit resulted in a $30 million award in a C-section case against a New York doctor, unrelated to Westmed but indicating industry-wide legal scrutiny 🗓 2024-10-15.
• A recall of Westmed Inc.'s manual resuscitation devices was issued, highlighting operational risks 🗓 2010-10-13.

👥 Labor & Workforce

The labor dynamics at Westmed Medical Group have recently involved moves towards unionization. This highlights possible challenges, yet the unionization can also indicate positive changes towards better work conditions.

• Some employees at Westmed/Summit voted to unionize, indicating a shift towards structured labor relations 🗓 2024-02-21.

🏗️ Operational & Business Continuity

Operational risks have been identified with past recalls affecting Westmed Medical Group. Proper risk management strategies might be essential to mitigate operational disruptions.

• A recall of Westmed Inc.'s manual resuscitation devices indicated serious operational risks 🗓 2010-10-13.

📜 Innovation & R&D

Westmed Medical Group has invested in innovation and R&D, enhancing patient engagement through technology improvements, suggesting a focus on maintaining competitiveness and improving patient care.

• The company improved its patient portal and mobile app to boost patient engagement, showcasing its focus on digital health innovations 🗓 2016-10-18.
• Westmed announced new mobile app innovations to enhance patient interactions and experiences 🗓 2017-10-26.
• The company planned to offer Sunday mammograms at its Ridge Hill location, reflecting innovative service offerings 🗓 2017-02-06.

🏅 Awards & Recognition

Westmed Medical Group has been recognized positively, which could enhance its brand value and attractiveness as an employer or partner.

• Westmed Medical Group was acknowledged as a best employer with awards presented to key professionals 🗓 2013-01-02.
• The group recognized a White Plains heart doctor for excellence, showcasing commitment to high-quality provider relationships 🗓 2014-01-17.