Latest news with #KarenSullivan
Yahoo
11-06-2025
- Health
- Yahoo
Bangor man sues hospital, Covenant Health over data breach
Jun. 11—A Bangor man has filed a class-action lawsuit against St. Joseph Hospital and its owner, Covenant Health, over a recent data breach he says compromised confidential patient information. In a complaint filed Monday in Penobscot County Superior Court, Michael McClain says he is suing on behalf of himself and others whose sensitive private information was impacted by a data breach in May. Covenant Health — the nonprofit owner of St. Joseph Hospital, St. Mary's Health System, St. Andre Health Care in Biddeford, and nursing homes in Lewiston and Bangor — disconnected from all of its hospitals' data systems on May 26 because of a "cyber incident" that it said was initiated by an outside group. A spokesperson for Covenant said shortly after the incident that the Catholic organization was working with outside parties to determine what happened and to get its computer systems restored. The lawsuit says Covenant and St. Joseph failed to properly secure private information that was entrusted to them. Because of the breach, access to documents systems, online patient portals and patient services were disrupted, according to the lawsuit. "Unexpected connectivity issues linked to a cyberattack on hospitals and medical facilities serves as a strong indicator that private information stored on the breaching entity's IT network was likely compromised because of the cyberattack," the complaint says. Karen Sullivan, a spokesperson for Covenant, said Wednesday that the organization is aware of the filing but does not comment on pending litigation. The lawsuit alleges that Covenant failed to implement and maintain reasonable network safeguards against threats, maintain data retention policies, train staff on data security and comply with industry-standard data security practices. It also says Covenant did not warn patients about its inadequate data security practices or encrypt private information, and that the organization failed to recognize that its networks had been compromised. The lawsuit says the plaintiff's and class members' identities are at risk because of Covenant's "negligent conduct" and is "now in the hands of data thieves." "As a result of the data breach, plaintiff and class members are now at a current, imminent, and ongoing risk of fraud and identity theft. Plaintiff and class members must now and for years into the future closely monitor their medical and financial accounts to guard against identity theft," the lawsuit reads. The lawsuit claims that impacted patients have incurred financial costs to mitigate the risk of identity theft, have experienced delays in experiencing medical care, and are at a continued risk for further breaches as long as Covenant fails to undertake adequate steps to protect private information. The plaintiff is seeking compensatory damages, reimbursement for out-of-pocket costs and injunctive relief, including improvements to the system's data security systems, annual audits and long-term credit monitoring. A jury trial has been requested. The plaintiffs are being represented by Portland law firm Murray, Plumb & Murray. A reporter's calls and emails seeking comment Wednesday afternoon were not returned. Copy the Story Link We believe it's important to offer commenting on certain stories as a benefit to our readers. At its best, our comments sections can be a productive platform for readers to engage with our journalism, offer thoughts on coverage and issues, and drive conversation in a respectful, solutions-based way. It's a form of open discourse that can be useful to our community, public officials, journalists and others. We do not enable comments on everything — exceptions include most crime stories, and coverage involving personal tragedy or sensitive issues that invite personal attacks instead of thoughtful discussion. You can read more here about our commenting policy and terms of use. More information is also found on our FAQs. Show less
Yahoo
21-02-2025
- Business
- Yahoo
Newmont Corp (NEM) Q4 2024 Earnings Call Highlights: Record Cash Flow and Strategic Divestments ...
Release Date: February 20, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Newmont Corp (NYSE:NEM) exceeded its production guidance by delivering 6.8 million ounces of gold and over 150,000 tonnes of copper in 2024. The company generated a record free cash flow of $1.6 billion in the fourth quarter, driven by strong gold prices and higher sales volumes. Newmont Corp (NYSE:NEM) successfully completed its divestment program, selling six non-core operations, which is expected to result in $2.5 billion in cash proceeds. The company maintained a strong balance sheet with over $3.6 billion in cash and $7.7 billion in liquidity, while retiring $1.4 billion in debt. Newmont Corp (NYSE:NEM) returned $2.3 billion to shareholders through dividends and share repurchases, demonstrating a commitment to shareholder returns. The integration of acquired assets like Cadia and Lihir faced challenges, requiring significant investment to realize their full potential. All-in sustaining costs are expected to rise to $1,620 per ounce in 2025 due to sustaining capital investments and macroeconomic factors. The company is undergoing an investment cycle that will keep sustaining capital at elevated levels over the next few years. Newmont Corp (NYSE:NEM) is carrying unacceptably high G&A costs, which are expected to decrease as the company transitions to a smaller portfolio of managed operations. The company provided only one-year guidance for 2025, focusing on stabilizing the business, which may leave investors seeking more long-term visibility. Warning! GuruFocus has detected 4 Warning Signs with NEM. Q: Can you discuss the recent debt reduction and divestments, and how they impact your gearing and debt targets going forward? A: Karen Sullivan, CFO: Our capital allocation strategy remains unchanged. We aim to maintain a strong balance sheet with around $3 billion in cash and debt below $8 billion. We are steadily funding our cash-generative projects with $1.8 billion in sustaining capital and $1.3 billion in development capital. We also continue to return capital to shareholders through dividends and share repurchases. Q: What is the status of your growth projects, and when can we expect updates on them? A: Tom Palmer, CEO: Our focus is on delivering the three projects currently in execution with a $1.3 billion spend. We have exciting projects in the pipeline, such as Red Chris and Yanacocha sulfides, which are undergoing feasibility studies and permitting. We aim to bring these projects online once we complete our current commitments. Q: Can you explain the difference between your reserve price assumption and your cost guidance? A: Tom Palmer, CEO: We set our reserve price based on a rigorous annual process considering the three-year trailing average price and analyst forecasts. Our cost guidance reflects current operational realities, including significant investments in sustaining capital and macroeconomic factors. We aim to reduce costs and improve productivity to align with our Tier 1 asset portfolio. Q: Why are your G&A costs expected to be high in 2025, and how will they change in the future? A: Tom Palmer, CEO: Our G&A costs are currently elevated due to the integration of Newcrest and ongoing divestments. As we complete these processes and reduce our portfolio to 11 managed operations, we expect G&A costs to decrease significantly, aligning with our streamlined operations. Q: What is your approach to providing guidance, and will you return to longer-term forecasts? A: Tom Palmer, CEO: After a year of transformation, our focus is on stabilizing the business and delivering high-confidence guidance for 2025. We are working to understand the full potential of our portfolio and will provide more detailed guidance for 2026 and beyond once we have a clearer picture. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
