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Federal government names six funds to distribute $50 million VCCI life science financing (BETAKIT)
The government renewed its commitment to Venture Capital Catalyst Initiative in Budget 2021, promising $450 million across three streams.
The three streams are funds-of-funds, life science, and inclusive growth. The announcement of the life science fund managers marks the second stream the government has chosen managers for.
Apple Plans AI-Powered Health Coaching Service and Mood Tracker
The new coaching service — codenamed Quartz — is designed to keep users motivated to exercise, improve eating habits and help them sleep better, according to people with knowledge of the project. The idea is to use AI and data from an Apple Watch to make suggestions and create coaching programs tailored to specific users, said the people, who asked not to be identified because the initiatives haven't been announced yet.
Practice Better raises $27 million USD to grow client management software for wellness providers (BETAKIT)
Since its launch, the startup claims to have reached more than 10,000 customers in more than 70 countries. Practice Better says the majority of this came through word of mouth, and with little outside financing.
Earlier this year, Practice Better raised $27 million USD to expand the reach of its platform even further.
Quest Diagnostics pens $450M deal for cancer detection startup Haystack Oncology (FIERCE BIOTECH)
The clinical testing giant plans to acquire Baltimore-based Haystack for its technology to detect minimal residual disease by catching the early signs of a solid tumor’s recurrence by sifting out small pieces of cancer DNA floating in the bloodstream.
Inside the reborn OneEleven (BETAKIT)
Toronto tech hub OneEleven has seen high executive turnover, an ill-fated national expansion, and in 2020, an abrupt shutdown that sent shockwaves through the local tech sector.
While questions remain as to why it went away in the first place, OneEleven is now firmly back. How did that happen and what does the innovation hub look like in 2023?
With Halo Shutdown, Amazon Has Now Closed 3 of Its Healthcare Divisions Since 2021 (MEDCITYNEWS)
This week, Amazon announced that it is shuttering its Halo division, focused on wearable health and fitness devices. This is not the first time Amazon has shuttered one of its healthcare divisions. In fact, it’s the third time in about two years.
Well Health looks to invest $2.5 million into AI companies developing healthcare solutions (BETAKIT)
Well’s interest in AI for healthcare comes as the market for it is estimated to reach a valuation of nearly $188 billion USD by 2030, driven by its capabilities to automate various tasks.
GoodRx appoints interim CEO as cofounders step down (MOBIHEALTHNEWS)
Drug cost and telehealth platform GoodRx has appointed previous GoDaddy leader Scott Wagner as interim chief executive officer, replacing cofounders and co-CEOs Doug Hirsch and Trevor Bezdek.
How new tools will change the way developers learn to build software (BETAKIT)
Mark Paulsen, the Global Director of Enterprise Advocacy at GitHub, shared with BetaKit the major trends he's seeing globally, where Canada fits in, and why companies need to change their approach to skills training for developers.
Teladoc posts narrower loss with boost from BetterHelp division (MOBIHEALTHNEWS)
Teladoc Health stock rose Wednesday night after the virtual care company posted a revenue boost and a narrower loss in the first quarter this year.
Teladoc reported revenue of $629.2 million, an 11% increase from $565.4 million in the first quarter of 2022.
Elizabeth Holmes’s Prison-Reporting Date Is Delayed
(THE WALL STREET JOURNAL)
Elizabeth Holmes, the disgraced Theranos founder convicted of criminal fraud, appealed her guilty verdict and asked the court directly if she could stay out of prison while her case makes its way through the appeals process.
The request automatically puts Holmes’s reporting date on hold while the court considers her request.
Medfar secures $30 million CAD, looks to acquire more electronic medical record software providers (BETAKIT)
Medfar is part of a growing space for healthtech startups looking to cash in on the electronic health records market, which is expected to reach a valuation of $30.8 billion USD globally by 2030, according to market research from Precedence Research.
EVisit acquires Bluestream Health to build out digital tools as hospitals double down on telehealth strategies (FIERCE HEALTHCARE)
Virtual care platform company eVisit acquired Bluestream Health to add digital front door capabilities, integrated language services and other digital tools to its solution.
Sachin Agrawal, eVisit's CEO, said Bluestream Health has a similar approach and ethos to reconstruct care using a digital foundation.
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