Business
Business model is unsustainable due to a challenging reimbursement environment and escalating operating costs, company says.
The health tech giant reported lower-than-expected sales and profits in the first quarter, resulting in its shares plummeting.
GenAI company for health plans Alaffia Health and oncology-focused clinical-trial platform Klineo also secured funding.
The wearable-tech company broadened its reach to 56 markets worldwide, added Italian and Latin American Spanish to its app and appointed three C-suite executives.
It is envisioned to cover greater distances, serving Australia's rural and remote communities, while being sustainable.
The telemedicine giant reported a net loss of $81.9 million in the first quarter of the year and a 20% increase in EBITDA year-over-year.
The startup plans to use the funds to build out its technology platform.
The ODU-led team will assess the commercial viability and feasibility of digital environments for people who are visually impaired.
The Series B funding round comes less than a year after the company closed a $25 million Series A round led by Google Ventures.
Xaira's CEO, Dr. Marc Tessier-Lavigne, resigned as president of Stanford University last August due to controversy over inaccuracies discovered in his lab's scientific papers.