Finance

The companies first partnered in 2020 to develop a prescription digital therapeutic for schizophrenia. They said a treatment strategy for the condition "would benefit from a multi-product approach."

Click Therapeutics received FDA Breakthrough Device Designation for a prescription digital therapeutic for episodic migraine, and Superior HealthPlan announced a home care partnership with MedArrive and Brave Health.

The deal is expected to close in January 2023.

According to TechCrunch and Fierce Healthcare, the health data company also recently closed a $200 million structured equity infusion.

The companies also raised $13 million in funding to support the merger.

Though funding has fallen this year, Dr. Sunny Kumar, partner at GSR Ventures, said there are still opportunities for startups that can prove their value.

The company said it needed to restructure following "a period of rapid growth and hiring."

Medical waste-management firm Stericycle sold the business to Carenet for approximately $45 million in cash.

Its acquisition is expected to close in the coming days.

Healthcare investment firm Patient Square Capital now owns approximately three-quarters of Eargo's outstanding common stock.