He Sees Himself As A Medical Philanthropist, But This Billionaire’s Business Practices Raise Red Flags
Politico investigates Patrick Soon-Shiong and his research foundation.
How Washington’s Favorite Cancer Fighter Helps Himself
Patrick Soon-Shiong, the California health care billionaire, believes the United States is fighting a flawed war on cancer, “stuck in dogma.” His bracing critique caught the attention of Joe Biden and, more recently, Donald Trump, who met privately with Soon-Shiong twice during the transition, as he reportedly angled for a role in the administration. (Tahir, 4/9)
In other news on the doctor —
Soon-Shiong Allegedly Made 'Implicit Threat' To Bring In Investors
When Dr. Patrick Soon-Shiong invested in the troubled media company Tronc, he was greeted as a white knight. But a lawyer for Tronc is now accusing Soon-Shiong of making an “implicit threat” that he would abandon the company unless Tronc invested in his own medical diagnostics startup, NantHealth. Soon-Shiong helped rescue Tronc from a hostile takeover attempt last May with an investment of more than $70 million. But he first tried to convince the publishing company to invest in the initial public offering of NantHealth, according to a letter from Tronc’s attorneys filed with the Securities and Exchange Commission. (Garde, 4/3)