Hippocratic AI, a generative AI company developing safety-focused large language models for healthcare, launched with $50 million in seed funding.
The funding round was co-led by General Catalyst and Andreessen Horowitz.
WHAT THEY DO
Hippocratic AI is building a large language model for healthcare, initially concentrating on non-diagnostic, patient-facing applications. The company is focusing on...
Telehealth and medical transportation company DocGo saw its shares rise after reporting its first quarter financial results, showing total revenue of $113 million with a net loss of $3.9 million.
The company reported a 19% decline in mobile health revenue from $90.1 million in the first quarter of 2022 to $72.9 million in the first quarter of 2023 but a 44% increase in transportation services...
Amino Health, a healthcare navigation platform, announced it received $80 million in equity and debt financing led by Transformation Capital, alongside Oxford Finance.
Transformation Capital joins existing investors WTI, Red Swan Ventures, North Woodmere Capital and Commerce Ventures.
Mike Dixon, managing partner at Transformation Capital, will join Amino's board of directors.
WHAT IT DOES...
Butterfly Network, maker of a handheld, smartphone-connected ultrasound system, saw its stock price drop after reporting first-quarter revenue of $15.5 million, flat from its total revenue of $15.6 million in Q1 2022, alongside a net loss of $33.5 million.
Still, this year, the Mass.-based company's first quarter net loss was less than its reported $44.5 million loss in the first quarter of...
Since Pear Therapeutics, one of the earliest digital therapeutic companies, declared bankruptcy in April, there's been discussion surrounding the state of investments in digital therapeutics, challenges that exist around standards of care, barriers to adoption and how to achieve success in the sector.
Andy Molnar, CEO of the Digital Therapeutics Alliance, a nonprofit organization that provides...
Babylon's stock price fell sharply after it announced plans to take the multinational digital health firm private, less than two years after the company debuted on the New York Stock Exchange.
Babylon also entered into an agreement with AlbaCore Capital LLP for a secured term loan facility for up to $34.5 million to support the company's plans to delist.
In the first quarter, Babylon reported...
Oura, the company behind a health tracking ring wearable, announced Tuesday it had purchased digital identification startup Proxy in an all-equity deal.
Proxy offers digital identity tech that aims to replace keys, cards, badges, apps and passwords. The startup said it had been working to include its offerings on wearable devices as well as phones.
According to reporting by Bloomberg, the deal...
Aegis Ventures and Northwell Holdings, the investment arm of the New York-based health system, on Tuesday launched Optain, a company that aims to use AI-backed retinal imaging to catch early signs of disease. The partners also provided an initial seed investment of $12 million.
Though the startup is new to the U.S. market, Aegis and Northwell said the tech can be traced back to Australian...
Cue Health laid off another 326 workers, or about 30% of the home diagnostics company's workforce, as part of a new cost reduction plan.
The cuts mark a second round of layoffs this year. In January, Cue laid off 388 employees, about 26% of its workforce.
In a filing with the Securities and Exchange Commission, Cue said it had approved the new plan at the end of last month, aiming to "reduce the...
Global healthcare company AmerisourceBergen has announced a strategic partnership with business-to-business telehealth provider SteadyMD, beginning with the companies cocreating and piloting a telehealth offering for independent community pharmacies dubbed Test to Treat.
The Test to Treat model allows individuals to be tested for an illness or condition at an independent pharmacy and then consult...
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