•  Illinois: Walgreens is reportedly in talks with private equity firm Sycamore Partners about potentially selling the company. According to the Wall Street Journal, Walgreens and Sycamore are currently discussing a deal that could potentially be completed early next year. In a Tuesday report, Evercore ISI analysts said the size of the potential deal likely means that Sycamore will need partners to complete it. "Ultimately, we think the transaction would not be without risk, but would be a positive for public shareholders given ongoing business headwinds. Should a deal come to fruition, we would anticipate that a restructuring of [Walgreens] may likely be easier outside of public eyes," the analysts wrote. So far, Walgreens has not commented publicly about the potential deal, with a spokesperson declining to comment on "rumors/speculation." (Lombardo et al., Wall Street Journal, 12/11; Japsen, Forbes, 12/10; Hudson, Modern Healthcare, 12/10)
• Kentucky: Humana announced that CFO Susan Diamond will step down from the role, effective Jan. 11. Diamond, who has been CFO since 2021, will remain in an advisory role with the insurer through the end of next year. Celest Mellet, who is finance chief at Global Infrastructure Partners, has been chosen as Diamond's replacement. Previously, Mellet worked at Evercore, Morgan Stanley, and Fannie Mae. "Celeste is a highly accomplished CFO and brings first-hand experience navigating dynamic and highly regulated industries," Humana CEO Jim Rechtin said. "She has a proven track record of working with cross-functional teams to drive improved performance throughout the complex organizations where she has served as a leader." (Olsen, Healthcare Dive, 12/3)
• North Carolina: Risant Health has completed its acquisition of Cone Health, making it the second health system to join Risant after Geisinger Health. "Having two of these close in one year has made for a pretty busy year," said Risant CEO Jaewon Ryu. "It's great to get on the other side of the regulatory approvals and finalize welcoming [Cone] into Risant Health." According to Ryu, Risant is currently in discussions with other health systems to bring them into the organization's network. So far, Risant is on track to have around five member systems within the next five years. Ryu noted that Risant is looking for health systems that are financially sustainable and have a legacy of quality. "They have to be walking the talk around value-based care, if you will," he said. "This kind of transformative work is never easy, and it goes better when systems are already building from a solid core reputation within their respective communities." (Hudson, Modern Healthcare, 12/3)

Learn the five most important distinctions between private equity deals with physician practices to help you determine whether a partnership will be successful.