Finance
Also: Baby tech company Owlet and diagnostics-focused Cue Health plan on submitting for regulatory clearances this year.
Also: Butterfly Network reports a year-over-year revenue increase of more than 25%, with a $44.5 million net loss, and One Medical announces a significant jump in revenue.
The size of the healthcare industry is attractive to entrepreneurs, but the highly regulated field can be a challenge for startups.
Under the deal, MedRhythms would receive a $3 million upfront payment and could earn up to $117.5 million if certain milestones are met.
The completed deal comes weeks after LetsGetChecked announced its intent to acquire Veritas Genetics and Veritas Intercontinental.
Dr. Liz Kwo outlines the landscape of the RPM space.
The virtual care giant reported a $6.7 billion loss in the first quarter, driven by a non-cash goodwill impairment charge related to its 2020 Livongo deal.
Also: Mount Sinai Innovation Partners launches a BIPOC-focused fund, and Carbon Health acquires more clinics in Southern California.
This brings the company's valuation to $1 billion.
The proposed acquisition and research partnership will add to the biopharmaceutical giant's growing digital capabilities and bolster its efforts "to pave a new era for digital health".