The Ledger

38 percent: that is how much Dupixent’s global sales jumped last quarter, pushing the eczema and asthma drug past 6 billion dollars in a single quarter for the first time, as Regeneron beat Wall Street on both the top and bottom line. Regeneron Pharmaceuticals reported second quarter 2026 revenue of 4.291 billion dollars, up 17 percent year over year, with non-GAAP earnings per share of 14.29 dollars, beating a roughly 10.16 dollar consensus estimate by more than 4 dollars a share; GAAP earnings per share came in at 12.23 dollars, down 5 percent from a year earlier. Dupixent, marketed with Sanofi, drove the quarter, its global net sales up 38 percent to a record 6.0 billion dollars, while Regeneron’s own EYLEA HD grew 52 percent to 596 million dollars and Libtayo grew 30 percent to 489 million dollars, each a record. The company said it fully repaid the Sanofi Development Balance as of quarter end, a milestone it said will drive “a meaningful step-up in collaboration profits” starting in the third quarter, and separately won FDA and EMA acceptance of regulatory submissions for cemdisiran in generalized myasthenia gravis. Confidence: High on the reported figures, since they come directly from Regeneron’s own SEC filing; Medium on the consensus-beat framing, since the Wall Street estimate is drawn from third-party financial data aggregation rather than a figure Regeneron itself publishes. Sources: Regeneron Reports Second Quarter 2026 Financial and Operating Results, Regeneron Pharmaceuticals, Regeneron Pharmaceuticals, Inc. Form 8-K, U.S. Securities and Exchange Commission.

761: that is how many corporate and administrative jobs a nonprofit Georgia hospital system just cut, even as it insists every frontline caregiver keeps their job. Wellstar Health System, the Marietta, Georgia-based nonprofit that is one of the state’s largest employers, notified employees July 28, 2026 that it is eliminating 761 positions, about 2 percent of its more than 35,000-person workforce, concentrated in corporate and shared-services functions and select administrative roles inside Wellstar Medical Group; the company says frontline clinical roles, physicians, nurses and direct patient-care staff, are not affected. In a statement carried by multiple outlets, Wellstar said the cuts follow “a comprehensive review” benchmarked against industry standards and are meant to “simplify our structure, clarify roles, strengthen accountability and move decision making closer to the people who care for patients,” with severance and transition resources offered to affected employees. Confidence: High on the headcount and scope, since Wellstar’s own statement is quoted consistently across outlets; Medium on the underlying financial rationale, since Wellstar did not disclose specific cost-savings targets or tie the cuts to systemwide operating results in the material this run reviewed. Sources: Wellstar Health System lays off 761 corporate, administrative staff, Fierce Healthcare, Wellstar cuts 761 jobs, Becker’s Hospital Review.

38: that is how many dental locations across eight states and Washington, D.C. a Northeast dental partnership organization just agreed to hand over to a larger platform, in the latest deal in an accelerating round of consolidation. Guardian Dentistry Partners announced July 15, 2026 that it entered a definitive agreement for a strategic majority acquisition of Select Dental Management, a dental support organization operating 38 locations across Connecticut, Massachusetts, Maryland, New Hampshire, New Jersey, New York, Pennsylvania, Vermont and Washington, D.C.; the deal adds a network supporting more than 130 dentists and roughly 720 team members to Guardian’s platform, with closing targeted before the end of the third quarter of 2026. Select Dental Management, launched in 2018, posted company-level EBITDA growth of 115 percent from 2022 through 2024 with practice-level EBITDA margins around 20 percent, according to the companies’ own announcement; financial terms of the transaction were not disclosed. Confidence: Medium, since the deal’s existence, scope and operating metrics come directly from the companies’ own press release, but the transaction value was not disclosed and this run could not independently verify the EBITDA figures. Sources: Guardian Dentistry Partners Expands Northeast Footprint Through Strategic Majority Acquisition of Select Dental Management, Guardian Dentistry Partners, Guardian Dentistry Partners acquires Select Dental Management, adds 38 locations, Becker’s Dental Review.

FRONTIER SCAN. 437 million dollars: that is what a private equity firm paid to take the country’s second-largest travel-nurse staffing company private, in a deal that also folded its locum tenens business into a sister portfolio company. Knox Lane completed its all-cash acquisition of Cross Country Healthcare on July 21, 2026, disclosed in a Cross Country Form 8-K filed with the U.S. Securities and Exchange Commission on July 27, paying 13.25 dollars a share for a total deal value of approximately 437 million dollars, a roughly 31 percent premium to Cross Country’s closing price the day before the deal was first announced May 6, 2026; Cross Country’s shares stopped trading on Nasdaq the day the deal closed. Founder and longtime chief executive Kevin Clark is retiring from his leadership roles, replaced by Joel Tremblay, a nearly two-decade healthcare-staffing veteran; separately, Cross Country’s locum tenens division was carved out and sold to All Star Healthcare Solutions, another Knox Lane portfolio company, consolidating two of the sector’s platforms under one private equity sponsor. This sits inside a wider wave of private equity consolidation across healthcare staffing, travel nursing, allied health and locum tenens, a corner of the labor-cost side of the healthcare business ledger this issue has not covered as its own thread before; Staffing Industry Analysts’ near-daily tracking of PE roll-up activity across the sector becomes this issue’s entry point for tracking it going forward. Confidence: High on the deal terms and closing date, since they come directly from Cross Country’s own SEC filing; Medium on the strategic rationale behind combining Cross Country and All Star under Knox Lane, since it rests on the companies’ own characterization rather than independent analysis. Sources: Knox Lane Completes Acquisition of Cross Country Healthcare, Business Wire, Cross Country Healthcare, Inc. Form 8-K, U.S. Securities and Exchange Commission.

THE DEAL SHEET

Target	Acquirer/Investor	Vertical	Value	Source
Cross Country Healthcare	Knox Lane	Healthcare staffing, travel nursing and locum tenens	$437 million ($13.25/share); closed July 21, disclosed in a July 27 SEC 8-K	Knox Lane Completes Acquisition of Cross Country Healthcare, Business Wire
Select Dental Management	Guardian Dentistry Partners	Dental service organization, 38 locations across 8 states and D.C.	Undisclosed; expected to close Q3 2026	Guardian Dentistry Partners Expands Northeast Footprint, Guardian Dentistry Partners
14 senior living communities (Midwest, South, Mid-Atlantic)	National Healthcare Properties	Senior housing real estate	Approximately $99 million; closed in early July, disclosed July 7	National Healthcare Properties Provides Transaction Updates, GlobeNewswire

CVS Health reports second quarter results Wednesday, August 5, the same day agilon health and Clover Health report; Privia Health and Oscar Health follow Thursday, August 6.