Dr. Oz Pledges to Divest Healthcare Holdings Amid CMS Nomination

Dr. Mehmet Oz, the renowned cardiothoracic surgeon and former television personality, has committed to divesting his extensive healthcare investments if confirmed as the next Administrator of the Centers for Medicare & Medicaid Services (CMS). This announcement comes as part of the ethical disclosure process following his nomination by President Donald Trump to lead the agency responsible for overseeing crucial federal health programs.

Comprehensive Divestment Plan

In a recent filing, Dr. Oz outlined a sweeping plan to sell off his healthcare-related stocks and resign from various advisory positions. His current portfolio includes significant holdings in major players across the healthcare spectrum:

• Insurance: UnitedHealth Group
• Providers: HCA Healthcare
• Pharmaceuticals: AbbVie, Eli Lilly
• Distribution: Cencora, McKesson
• Technology: Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia

The divestment extends beyond publicly traded companies to include partnerships and advisory roles. Dr. Oz will relinquish his equity in Cardiology Partners and step down from advisory positions with iHerb, Sandbox AQ, Housey Pharma, and the American Association of Thoracic Surgery.

Retention of Select Interests

While the divestment plan is extensive, Dr. Oz will maintain certain financial interests:

• Oz Property Holdings
• Oz Media
• iHerb Oz Partners

He will resign from positions within these entities but retain his ownership stakes. Additionally, Dr. Oz plans to continue his involvement with several production companies without compensation.

Scrutiny and Criticism

The nomination has not been without controversy. Democratic senators have raised concerns about Dr. Oz's qualifications and past statements, particularly regarding Medicare Advantage. Senators Elizabeth Warren and Tammy Duckworth have questioned his stance on abortion rights and his previous comments equating abortion to murder.

Critics point to Dr. Oz's support for "Medicare Advantage for All" as potentially conflicting with his role overseeing traditional Medicare. In a letter to Dr. Oz, senators expressed doubt about his qualifications, citing his financial ties to private insurers and his characterization of the traditional Medicare program as "highly dysfunctional."

As the confirmation process unfolds, all eyes will be on Dr. Oz's ability to navigate these ethical challenges and convince skeptics of his readiness to lead CMS in an impartial and effective manner.