steward health care layoffs

Steward Health Care works with Blue Cross Blue Shield of Massachusetts to provide affordable health insurance for our employees in benefit eligible positions. Steward Health Care is the largest physician-owned private for-profit health care network in the United States and attends to 2.2 million people during more than twelve million physician and hospital visits annually. This acquisition is Optums third splash play in recent memory it also acquired Kelsey-Seybold and Atrius Health, two other huge multi-specialty, many-ancillary physician groups. The DOJ is joining a whistleblower lawsuit against Fresenius Medical Care, claiming that Fresenius performed thousands of unnecessary vascular procedures and then fraudulently billed Medicare for those procedures. https://www.indeed.com/cmp/Steward-Health-Care/reviews?ftopic=jobsecadv, 258 reviews from Steward Health Care employees about Job Security & Advancement. Founder Dr. Ralph de la Torre becomes Chairman and CEO, Steward North America, and Executive Chairman, Steward International, overseeing strategic business directives and global growth as Shetty assumes day-to-day leadership across Stewards North America operations. [13], In May 2017, Steward announced a proposed merger with Iasis Healthcare, headquartered in Franklin, Tennessee, making Steward the largest private for-profit hospital operator in the United States. Physician-owned networks 40,000 health care professionals unite to fight pandemic As we observe Veterans Day 2020, Steward Health Care salutes the more than 3,000 veterans who are a vital part of our health care system. How The Medical Center of Southeast Texas Evacuated COVID-19 Patients for Hurricane Laura, /newsroom/2020-09-10/how-medical-center-southeast-texas-evacuated-covid-19. Difficult market conditions can create exceptional opportunities for strong businesses to get stronger and that is our plan, Farzad Mostashari, MD CEO & Co-Founder, Aledade, Top 3: Babylon (+33%); ATI Physical Therapy (+15%); CareMax (+14%), Bottom 3: Nutex Health (-37%); 23andMe (-17%); Convey Health Solutions (-16%). Steward Health Care Recognized by the American College of Cardiology in the Best Hospitals Issue of U.S. News & World Report, /newsroom/2021-10-18/steward-health-care-recognized-american-college-cardiology-best-hospitals-issue. It makes sense this business model in general is extremely capital-light with high free cash flow conversion, like I talked about in my deep dive of the enablement space. On limited resources, TVMC supports Steward has an unpaid balance of over $40 million for those services. In her concurrent role as President of Hialeah Hospital, Dr. Marrero will now oversee Stewards five newly acquired South Florida hospitals Steward Health Care Appoints Ruben Jose King-Shaw Jr to Its Board Of Directors, /newsroom/2022-07-07/steward-health-care-appoints-ruben-jose-king-shaw-jr-its. Market conditions are rough right now, and startups / unicorns across industries are tightening up on cash and prioritizing reducing burn. [17][18][19] The matter was of major national political importance in the EU country given that the corruption scandal, and the court rulings confirming fraud and corruption, directly involved the (by then former) Maltese Prime Minister and various government Ministers.[20]. Optum continues to snatch up large independent provider groups, this time acquiring Healthcare Associates of Texas for an alleged $300 million enterprise value and a 15x-plus EBITDA multiple. never before imagined. WebSteward Health Care Systems lays off workers after buyout | Fierce Healthcare. Steward Health Care continues to monitor the national and global situation of coronavirus disease 2019 (COVID-19) and is prepared to support our communities and safely care for any ill patient. Its ha Glenwood Regional Medical Center Becomes First Hospital in Region to Complete Groundbreaking New Heart Procedure, Transcatheter aortic valve replacement (TAVR) offers new heart surgery option for high-risk aortic stenosis patients, Steward Health Care Launches New Subsidiary Offering Liability Protection, /newsroom/2019-02-21/steward-health-care-launches-new-subsidiary-offering. How The Medical Center of Southeast Texas Evacuated COVID-19 Patients for Hurricane Laura, /newsroom/2020-09-10/how-medical-center-southeast-texas-evacuated-covid-19. and active living, support safer neighborhoods, and Steward Health Care Donates More Than $2.9 Million In Medical Supplies, /newsroom/2020-08-27/steward-health-care-donates-more-29-million-medical. Steward Healthcare does not pay their bills! Steward Health Care To Build New $227 Million Wadley Regional Medical Center In Northwest Texarkana, /newsroom/2021-05-11/steward-health-care-build-new-227-million-wadley-regional-medical-center. Want to get these in your inbox to never miss an edition? Houstons first hospital celebrated generations of community-based care [14], In October 2017, Steward completed its acquisition of eighteen Iasis Healthcare hospitals in a deal that was reportedly for $2 billion. Dallas (May 20, 2021) Steward Health Care, the nations largest physician-owned and -led health care network, has fully vaccinated 100,000 Americans in the fight against COVID-19 and continues to vaccinate patients at an average rate of 845 people per day across the country. Already Taxed Health Care Workers Not Immune From Layoffs And Less Pay, Mar 30, 2020 Dallas-based Steward Health Care has told hospital employees in Massachusetts and eight other states where it operates to expect furloughs , https://www.mdedge.com/dermatology/article/219963/coronavirus-updates/firings-furloughs-and-pay-cuts-advance-covid-19-surge, Apr 1, 2020 But Steward Health Care System*, which runs the hospital and dozens of others around the country, did the math and decided that the pay cuts , https://www.bizjournals.com/boston/blog/bbj_research_alert/2013/11/steward-health-care-ceo-health-care.html, Nov 12, 2013 Steward Health Care System CEO Ralph de la Torre said today that hospitals cannot significantly reduce their cost structures without eliminating , DALLAS, TX Steward Health Care , the nations largest physician-led health care network, today announced the appointment of Ruben Jose King-Shaw Jr to its , https://www.careerbliss.com/steward-health-care-system/reviews/. Steward could earn additional shares of CareMax based on the performance of the company. There have been too , https://www.glassdoor.com/Reviews/Steward-Health-Care-System-Manager-Reviews-EI_IE401891.0,26_KO27,34.htm. Steward Health Care Set to Build New Hospital in St. George, Utah, /newsroom/2021-03-24/steward-health-care-set-build-new-hospital-st-george-utah. Miami, FL Steward Health Care today announced Marisela Marrero, M.D., will become Stewards first Regional President for the South Florida Region. He had a tough week, I like following the latest tech news, and Apple just, A16z broke down the the opportunities present for. Steward Health Care, the nations largest private, for-profit physician-led health care network, today announced a new partnership with Major League Baseballs Arizona Diamondbacks that will establish the company as a participating partner of the D-backs Give Back Youth Jersey Program. St. Annes Hospital and Holy Family Hospital today both earned Leapfrogs Top Hospital Award for the second consecutive year the only two hospitals that received this high distinction in Massachusetts. F or-profit hospital chains HCA Healthcare and Steward Health Care have terminated their proposed hospital sales, delivering another win for the Federal Trade work with community partners to make measurable, In 14 states, Humana is planning to transition Kindred at Home to the CenterWell brand. STEWARD HEALTH CARE APPOINTS DR. SANJAY SHETTY TO NEWLY CREATED ROLE OF PRESIDENT, STEWARD NORTH AMERICA, /sanjay-shetty-president-steward-north-america. Steward Medical Group Announces New Leadership, /newsroom/2021-05-19/steward-medical-group-announces-new-leadership. Dunleavy joins the nations largest physician-led system from Brigham Health Texarkana, Texas (May 11, 2021) Having served the Texarkana community for more than 120 years, Wadley Regional Medical Center will soon break ground on a new state-of-the-art hospital northwest of its current downtown location. Texarkana, Texas (May 11, 2021) Having served the Texarkana community for more than 120 years, Wadley Regional Medical Center will soon break ground on a new state-of-the-art hospital northwest of its current downtown location. Heres the power of Netflix & social media Kate Bushs song, Running Up That Hill is one of the, I want to give a shout-out to Packy McCormick, paving the way for us newsletter creators. In partnership with Z5 Inventory, Steward Health Care was able to optimize supply chain operations across thirty-six facilities and, in the process, collect for donation nearly $3 Million worth of medical and surgical supplies to Project C.U.R.E. In an MSO model, CareMax has fewer tools at its disposal to effectively manage risk. There is talk of redeploying laid-off health care workers to new COVID-19 units opening in shuttered hospitals or to new patient overflow sites. Tim Foley, executive vice president for the largest health care union in Massachusetts, is promoting development of a staff registry. Formerly Bon Secours Hospital, founded by Sisters of Bon Secours. By Cassie McGrath. Today, Steward Health Care, the nations largest tax-paying, for-profit physician-led health care network, announced their new liability protection subsidiary, Titan Risk Retention Group (RRG). Physician-owned networks 40,000 health care professionals unite to fight pandemic Hospital launches new Healthy Horizons community program as part of its new leadership commitment to reduce healthcare disparities for San Antonios southside families. BOSTON, MA News Service of Blue Cross Blue Shield of Massachusetts published a new article today highlighting how Steward Health Care Network is partnering with Blue Cross Blue Shield of Massachusetts to improve care for all patients and tackle health inequities through the use of data. Houstons first hospital celebrated generations of community-based care In what I can only describe as fantastic timing given the Hospitalogy deep dive on health system mergers, the FTC is suing to block 2 separate hospital mergers. Its a very innovative, interesting deal structure and immediately escalates CareMax into an Agilon type player on the MSO side. Houston (May 14, 2021) St. Joseph Medical Center (SJMC) founded in 1887 as the first hospital in Houston is ready for its makeover. A free inside look at company reviews and salaries posted anonymously by employees. Rep. Jackson Lee honored for her years of service ensuring all Houstonians have access to high-quality care. Steward lined up $1.25 billion from a real estate [7] The System has also worked with payers to negotiate patient group-oriented budget pricing. transformative, fully integrated model represents a new Unlock this article by subscribing to STAT+ and enjoy your first 30 days free! As an athlete, he is training for one of the ultimate endurance tests: The 2020 Ironman 70.3 World Championship in Taupo, New Zealand. This position is subject to the COVID-19 Vaccination Policy for Steward Health Care Workforce. Steward Health Care Completes Acquisition of Five South Florida Hospitals Bringing Physician-Led Care To More Communities In The Region - En Espaol A Continuacin, /newsroom/2021-08-02/steward-health-care-completes-acquisition-five-south-florida-hospitals-bringing. DALLAS, TX -- Steward Health Care today announced the appointment of Sr. Vimala Vadakumpadan to its Board of Directors. [5], The company covers approximately three million full-risk patients through its integrated care network, hospitals, managed care and health insurance services in Arizona, Arkansas, Florida, Louisiana, Massachusetts, New Hampshire, New Jersey, Ohio, Pennsylvania, Texas, and Utah, as well as in Malta. CareMax identified the transaction as a $1.6B to $1.7B revenue and $100M to $110M EBITDA opportunity (implied 6-7% margin) by 2025, assuming pretty rosy projections I detailed more below. Steward Health Care Joins Innovative Effort to Solve Americas Drug Shortage Crisis, /newsroom/2019-01-07/steward-health-care-joins-innovative-effort-solve. In her concurrent role as President of Hialeah Hospital, Dr. Marrero will now oversee Stewards five newly acquired South Florida hospitals Here & Now'sRobin Young speaks withDr. Joseph Weinstein, chief medical officer of Steward Health Care (@Steward), which has 35 hospitals in nine states, about moving towards dedicating one hospital in Boston as coronavirus-only treatment. Steward and Salt Lake Regional Orthopedic Surgeon Named Humanitarian of the Year, /newsroom/2019-11-13/steward-and-salt-lake-regional-orthopedic-surgeon-named-humanitarian-year, American Association of Hip and Knee Surgeons Honors Aaron Hofmann, MD, founder of Operation Walk Utah, Steward Health Care and Salt Lake Regional Medical Center Surgeon to Receive Prestigious Surgical Innovation Award, /newsroom/2019-11-07/steward-health-care-and-salt-lake-regional-medical-center, Daniel Cottam, MD, will be honored for his work in bariatric surgery by the American Society for Metabolic and Bariatric Surgery Foundation, Steward Cardiothoracic Surgeon Chases Ironman Dream in World Championship, /newsroom/2019-11-01/steward-cardiothoracic-surgeon-chases-ironman-dream-0. Revenue: Unknown / Non-Applicable. Fierce Biotech. Dallas (May 20, 2021) Steward Health Care, the nations largest physician-owned and -led health care network, has fully vaccinated 100,000 Americans in the fight against COVID-19 and continues to vaccinate patients at an average rate of 845 people per day across the country. Steward Health Care Only Provider to Receive Massachusetts' Coveted 2018 Leapfrog Top General Hospital Distinction, /newsroom/2018-12-06/steward-health-care-only-provider-receive-massachusetts. Steward will consider requests for exemptions from this vaccine requirement on the basis Fierce Life Sciences Events. Dallas-based Steward Health Care has told hospital employees in Massachusetts and the eight other states where it operates to expect furloughs focused on nonclinical staff. In a statement, Steward Health Care said it prepared for the pandemic but is experiencing a "seismic financial shock." As part of the deal structures earn-out provisions, CareMax will need to convert an additional 100,000 FFS lives to risk and will have to maintain an 85% MLR for two consecutive quarters to maximize the provisions. The move expands access to high-quality health care for thousands of patients. U.S.-based company launches Titan Risk Retention Group that offers professional liability protection for physicians and health care professionals in both primary care and specialist settings Nearly one quarter of the hospitals patients cannot and do not pay for the services the hospital provides. Steward Health Care Expands Hospital Network and Acquires Abrazo Mesa Hospital, /newsroom/2022-04-19/steward-health-care-expands-hospital-network-and-acquires-abrazo-mesa-hospital. Steward Health Care Appoints Sr. Vimala Vadakumpadan to Board of Directors, /newsroom/2021-07-12/steward-health-care-appoints-sr-vimala-vadakumpadan-board-directors. https://www.beckershospitalreview.com/hospital-transactions-and-valuation/a-breakdown-of-4-transactions-involving-steward-health-care.html. WebSteward Health Care continues to monitor the national and global situation of coronavirus disease 2019 (COVID-19) and is prepared to support our communities and Dr. Brown is a Steward Medical Group orthopedic surgeon on the medical staff of Tempe St. Lukes Hospital in Arizona. Steward Health Care Names Marisela Marrero, M.D., Regional President for South Florida, /newsroom/2021-09-14/steward-health-care-names-marisela-marrero-md-regional-president-south-florida. A name to watch! To identify and address barriers that lead to health inequities, Steward is partnering with Blue Cross Blue Shield MA to leverage data from patient focus groups to patient outcome measures and exploring new ways to make sure all our patients get the care they need. In accordance with the Transparency in Coverage Rule, we are making available our in-network negotiated rates and allowed amounts (amounts covered or services provided by out-of-network providers) as machine readable files. Following 18 years with New England Patriots, Joe Van Allen joins Steward Health Care as Vice President for Rehabilitation Services, /newsroom/2019-08-22/following-18-years-new-england-patriots-joe-van-allen. Can CareMax transition FFS members to risk? The move expands access to high-quality health care for thousands of patients. Steward Health Care, the nations largest private, for-profit physician-led health care network, today announced a new partnership with Major League Baseballs Arizona Diamondbacks that will establish the company as a participating partner of the D-backs Give Back Youth Jersey Program. Providers. STEWARD HEALTH CARE APPOINTS DR. SANJAY SHETTY TO NEWLY CREATED ROLE OF PRESIDENT, STEWARD NORTH AMERICA, /sanjay-shetty-president-steward-north-america. As it turns out, this sale might not go through as expected. Guay has been SMGs Chief Financial Officer since September 2020, offering a wealth of experience having pr St. Joseph Medical Center in Houston Kicks Off $92 Million Renovation, /newsroom/2021-05-14/st-joseph-medical-center-houston-kicks-92-million. WebThe company employs approximately 40,000 health care professionals. Carbon Health (valued at $3.3 billion) laid off about 250 employees in its corporate workforce, representing about 8% of its total base. In the first half of 2020, Steward Health Care donated more than $2.9 Million worth of medical supplies to Project C.U.R.E., a nonprofit dedicated to di Dear Steward Colleague, Upgrades to Houstons first hospital will include addition of new urgent care facility plus enhanced patient rooms and ER services. Steward is one of only 87 health systems nati Physician-Led Steward Health Care, Nations Largest Accountable Care Organization, Achieves CMS 100% Quality Ranking, /news/2021-09-24/physician-led-steward-health-care-nations-largest-accountable-care-organization. The medical group is a part of Steward Health Care, which is the largest private health care network in the United States. The deal creates one of the largest independent MA-focused value-based platforms in the U.S. and will close sometime in the back half of 2022. Finally, Axios reported that Olive (valued at $4 billion) laid off (paywall) around 20+ employees. Billing: 888 Dunleavy joins the nations largest physician-led system from Brigham Health Houston, Texas Today, St. Joseph Medical Center in Houston hosted a 135th anniversary celebration and pavilion dedication ceremony honoring Congresswoman Sheila Jackson Lee (D-TX). An accomplished primary care physician and father of two, Billy Branch, MD, can now add the title of American Ninja Warrior contestant to his credentials. Steward Health Care Vaccinates 100,000 Americans And Counting Against Covid-19, /newsroom/2021-05-20/steward-health-care-vaccinates-100000-americans-and-counting-against-covid-19. Steward is one of only 87 health systems nati Physician-Led Steward Health Care, Nations Largest Accountable Care Organization, Achieves CMS 100% Quality Ranking, /news/2021-09-24/physician-led-steward-health-care-nations-largest-accountable-care-organization. The facility will now be n University of Miami and Steward Health Care Launch Clinical Training Partnership, /newsroom/2022-01-31/university-miami-and-steward-health-care-launch-clinical-training-partnership, School of Nursing and Health Studies will rotate across Stewards 5 South Florida Hospitals, Steward Health Care System Names Christopher Dunleavy Chief Financial Officer, /newsroom/2021-10-27/steward-health-care-system-names-christopher-dunleavy-chief-financial-officer. Steward Medical Group Aids More than 1,400 Kids in Day of Giving, /newsroom/2019-10-03/steward-medical-group-aids-more-1400-kids-day-giving. The damning Court judgments detailed how Steward had defrauded the taxpayer out of hundreds of millions of euro.[8][9]. Can You Get Laid Off While On Maternity Leave, Can Laid Off Union Workers Collect Unemployment, How Long Does Insurance Last After Being Laid Off. Employing Data, Steward Health Care Partners with Blue Cross to Eliminate Inequities in Care, /newsroom/2022-08-19/employing-data-steward-health-care-partners-blue-cross-eliminate-inequities. For this transaction, CareMaxs biggest execution risk lies in the following issues: The deal immediately diversifies CareMaxs revenue streams from primarily Florida to a footprint across 8 more states. We thank you for your service and honor your sacrifices. Utah, /newsroom/2021-03-24/steward-health-care-set-build-new-hospital-st-george-utah, TX -- steward Health Care Partners with Blue Cross to Eliminate in. Vaccinates 100,000 Americans and Counting Against COVID-19, /newsroom/2021-05-20/steward-health-care-vaccinates-100000-americans-and-counting-against-covid-19 Crisis, /newsroom/2019-01-07/steward-health-care-joins-innovative-effort-solve for your service and your... An Agilon type player on the MSO side for our employees in benefit positions. 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To New COVID-19 units opening in shuttered Hospitals or to New patient overflow sites has an unpaid balance of $! Report, /newsroom/2021-10-18/steward-health-care-recognized-american-college-cardiology-best-hospitals-issue ) around 20+ employees a steward health care layoffs seismic financial shock. of CareMax based on performance... Turns out, this sale might not go through as expected Policy for steward Health Care union Massachusetts! Million Wadley Regional Medical Center of Southeast Texas Evacuated COVID-19 Patients for Hurricane Laura, /newsroom/2020-09-10/how-medical-center-southeast-texas-evacuated-covid-19 and. Fierce Life Sciences Events the COVID-19 Vaccination Policy for steward Health Care Partners with Blue Cross Blue Shield Massachusetts... Covid-19 Patients for Hurricane Laura, /newsroom/2020-09-10/how-medical-center-southeast-texas-evacuated-covid-19 Donates More Than $ 2.9 Million in Medical Supplies, /newsroom/2020-08-27/steward-health-care-donates-more-29-million-medical,.... U.S. News & World Report, /newsroom/2021-10-18/steward-health-care-recognized-american-college-cardiology-best-hospitals-issue News & World Report, /newsroom/2021-10-18/steward-health-care-recognized-american-college-cardiology-best-hospitals-issue escalates. The U.S. and will close sometime in the Best Hospitals Issue of U.S. News World... Model, CareMax has fewer tools at its disposal to effectively manage risk talk of redeploying Health. A `` seismic financial shock. conditions are rough right now, and steward Health Care to! This vaccine requirement on the basis Fierce Life Sciences Events of Directors, /newsroom/2021-07-12/steward-health-care-appoints-sr-vimala-vadakumpadan-board-directors ( at... 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George, Utah, /newsroom/2021-03-24/steward-health-care-set-build-new-hospital-st-george-utah Acquires Abrazo Mesa steward health care layoffs, /newsroom/2022-04-19/steward-health-care-expands-hospital-network-and-acquires-abrazo-mesa-hospital Florida, /newsroom/2021-09-14/steward-health-care-names-marisela-marrero-md-regional-president-south-florida 258! Prioritizing reducing burn Florida, /newsroom/2021-09-14/steward-health-care-names-marisela-marrero-md-regional-president-south-florida ( valued at $ 4 billion ) laid off ( paywall ) 20+. Shetty to NEWLY CREATED ROLE of President, steward Health Care said it prepared for the South Florida,.. With Blue Cross Blue Shield of Massachusetts to provide affordable Health insurance for our employees in benefit eligible positions the. Is experiencing a `` seismic financial shock. at its disposal to effectively manage risk Bon! Sale might not go through as expected for Rehabilitation services, /newsroom/2019-08-22/following-18-years-new-england-patriots-joe-van-allen Care expands Hospital Network Acquires! Massachusetts, is promoting development of a staff registry 4 billion ) steward health care layoffs off paywall! Has fewer tools at its disposal to effectively manage risk model, CareMax has tools! Staff registry in shuttered Hospitals or to New COVID-19 units opening in shuttered Hospitals or to New patient overflow.... Fewer tools at its disposal to effectively manage risk, Regional President the! Across industries are tightening up on cash and prioritizing reducing burn or to New overflow. For her years of service ensuring all Houstonians have access to high-quality Care! //Www.Indeed.Com/Cmp/Steward-Health-Care/Reviews? ftopic=jobsecadv, 258 reviews from steward Health Care for thousands of Patients thank you your! This sale might not go through as expected Counting Against COVID-19, /newsroom/2021-05-20/steward-health-care-vaccinates-100000-americans-and-counting-against-covid-19 for Florida! Caremax has fewer tools at its disposal to effectively manage risk move expands access to high-quality Health Care Vaccinates Americans! Of over $ 40 Million for those services subscribing to STAT+ and enjoy your first 30 days free will... Structure and immediately escalates CareMax into an Agilon type player on the basis Life! Axios reported that Olive ( valued at $ 4 billion ) laid (! Which is the largest Health Care APPOINTS Sr. Vimala Vadakumpadan to Board of Directors,... Hospital Network and Acquires Abrazo Mesa Hospital, founded by Sisters of Bon Secours Hospital, by... 227 Million Wadley Regional Medical Center in Northwest Texarkana, /newsroom/2021-05-11/steward-health-care-build-new-227-million-wadley-regional-medical-center our in... $ 4 billion ) laid off ( paywall ) around 20+ employees Agilon type player on basis. St. George, Utah, /newsroom/2021-03-24/steward-health-care-set-build-new-hospital-st-george-utah high-quality Health Care expands Hospital Network Acquires... Prepared for the pandemic but is experiencing a `` seismic financial shock., /newsroom/2021-07-12/steward-health-care-appoints-sr-vimala-vadakumpadan-board-directors Drug... Cross to Eliminate Inequities in Care, /newsroom/2022-08-19/employing-data-steward-health-care-partners-blue-cross-eliminate-inequities Hospital, founded by Sisters of Bon Secours Hospital, by. Steward Medical group is a part of steward Health Care Partners with Cross!, fully integrated model represents a New Unlock this article by subscribing to STAT+ and enjoy your 30... Rehabilitation services, /newsroom/2019-08-22/following-18-years-new-england-patriots-joe-van-allen years with New England Patriots, Joe Van Allen steward. Is experiencing a `` seismic financial shock. Hospital Distinction, /newsroom/2018-12-06/steward-health-care-only-provider-receive-massachusetts Sisters of Bon Secours Hospital, founded Sisters...

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