H|T: The Healthtech Times – A bumpy ride for Peloton

Plus: Zymeworks stock hits three-year low.

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Amplitude Ventures, AltaML pen partnership to build AI, biotech companies (BETAKIT)

Edmonton-based AltaML and Montréal’s Amplitude Ventures want to fuel more Canadian AI and biotech companies, penning what they call a “strategic alliance” to source investments as well as projects where they can work together. The partnership follows the more than $200 million close of Amplitude’s precision health fund last year.


Lyra Health gets $235M, soars to $5.58B valuation with new acquisition for global expansion (FIERCE HEALTHCARE)

Employer-focused Lyra Health snagged $235 million in series F funding, sending the health tech unicorn’s valuation to $5.58 billion as the company focuses its efforts on global expansion.


Hyivy Health secures $1.1 million in pre-seed funding to ease women’s pelvic health problems (BETAKIT)

Hyivy Health is developing the first smart, holistic pelvic health rehabilitation product for the one in three women who will develop pelvic health complications in their lifetime.


Peloton hires McKinsey to review cost structure; cycle maker may cut jobs, close stores (CNBC)

At the end of this month, Peloton will tack on fees for delivery and assembly of its Bike and Tread products, citing historic levels of inflation and heightened supply chain costs.


Tech sees progress in promoting women to executive roles, but still lags behind other sectors (BETAKIT)

The review shows that compared to other industries technology companies have the second lowest number of women on boards at 74 percent. In contrast, manufacturing boasts 95 percent.


Zymeworks stock hits three-year low after the B.C. biotech firm announces 25-per-cent job cut, halving of management team (THE GLOBE AND MAIL)

Zymeworks’ US$11.55 close on the NYSE marks a three-year low after shedding nearly four-fifths of its value in the past year.


What jobs at Apple, Xerox, and HP taught Vena Solutions COO Tina Goulbourne about building a startup (BETAKIT)

On the #CIBCInnovationEconomy Podcast, Tina Goulbourne shared how her previous jobs at global tech giants set her up for success at Vena Solutions.


IBM sells Watson Health assets to investment firm Francisco Partners (FIERCE HEALTHCARE)

The companies did not disclose financial terms of the deal, but previous reports said IBM was seeking a price in the $1 billion range, Axois reported, citing people familiar with the situation.


Future Fertility secures $7.6 million CAD for AI-powered in vitro fertilization (BETAKIT)

Future Fertility CEO Diana Olusanmi told BetaKit that many of the other firms operating in the fertility space have focused on the embryo, while Future Fertility is “the first company to offer non-invasive egg assessment for patients through their fertility clinics.”


To reinvent itself in telehealth, Wheel lands $150 million Series C (TECHCRUNCH)

The money will help Wheel offer its platform to more companies seeking to sell holistic, virtual care service to patients. The startup wants to now be able to help patients start at a telehealth visit, but then get directed to labs, diagnostics or even an in-person visit.


Maple acquires Wello to expand employee healthcare business (BETAKIT)

Co-founded in 2015 by CEO Brett Belchetz, a former emergency-room doctor, Maple has developed a digital healthcare platform that aims to deliver timely and convenient access to healthcare providers.


J&J’s investment arm joins $150M investment in digital health firm Verana (MED CITY NEWS)

The company said it will use the new capital to expand its technology, which is used by physicians and pharmaceutical companies.


Telus Health launches virtual pharmacy service nationally (BETAKIT)

Telus is also, notably, an investor in digital pharmacy startup PocketPills, for which Telus Ventures led an all-equity, $30 million round in March.


For doctors drowning in emails, one health system’s new strategy: pay for replies (STAT NEWS)

The move follows pandemic-era policy from the Centers for Medicare and Medicaid Services allowing Medicare reimbursement for these messages, known as e-Visits.


Josh Scott

Josh Scott

Josh Scott is a BetaKit staff writer who loves to tell Canadian business and tech stories. His coverage is more complete than his moustache.

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