capital ~$127.7B/yr revenue (non-profit; reserves mission-locked)

opt

constrained — non-profit; Risant roll-up

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GROSS — 13.1M members, 40 hospitals, 25,505 physicians …

New 09-02 (events of 09-01): the AI fight jumped bargaining units, and the new one is ten times larger. California Nurses …

capital ~$448B/yr revenue + ~$89B float

opt

constrained (MLR) but Optum is a free lever (M&A)

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~$380B+/yr GROSS routed + 50M members; Optum touches …

New 08-16: no further movement all week (08-10→08-16) — an explicit-zero Sunday for the mental-health lens (trade press doesn't publish …

capital ~$400B/yr revenue

opt

constrained + debt-laden (Aetna / Oak St)

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~$340B+/yr GROSS — Caremark 75M, ~9,100 pharmacies (~1/5 of …

New 08-16: no further movement — an explicit-zero Sunday for the mental-health lens (trade press doesn't publish weekends). One housekeeping …

capital ~$275B/yr revenue

opt

constrained core / free Evernorth (Express Scripts)

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GROSS — 185M+ relationships + 1.7M providers (widest …

New 08-16: no further movement all week (08-10→08-16) — an explicit-zero Sunday for the mental-health lens, and the shared …

capital ~$199B/yr revenue + >=$6B/yr operating cash flow

opt

constrained + 11-state Blue license fence

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GROSS — ~46.8M members

New 08-16: no further movement all week (08-10→08-16) — an explicit-zero Sunday for the mental-health lens, and no new Elevance-specific …

capital ~$130B/yr revenue

opt

most constrained — ~85% govt MA/Medicaid, CMS-set rates

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GROSS — #2 Medicare Advantage insurer (~5-6M MA members, …

New 08-16: no further movement all week (08-10→08-16) — an explicit-zero Sunday for the mental-health lens, and still nothing …

capital ~$75.6B/yr revenue

opt

free capital allocation (buybacks) / rate-constrained …

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GROSS — 186 hospitals + ~2,000 sites across 21 states + UK …

New 08-16: still quiet — no HCA-specific development; the `hca-healthcare` thread remains last_seen 08-04, now 12 days stale. HCA carries no …