The Healthtech Times is a weekly newsletter covering healthtech news from Canada and around the globe. Subscribe to H|T using the form at the bottom of this page to ensure you don’t miss out on the most important healthtech news every week!
“Social” healthtech startup Curatio merges with Australian medtech firm RxMx (BETAKIT)
Named RxPx, which stands for prescription medication and patient experience, the newly combined entity aims to combine the strengths of both Curatio and RxMX to deliver “next level” solutions to patients, especially those on specialty therapies meant to treat more serious diseases.
CVS beats out Amazon for Signify Health (AXIOS)
After losing out on One Medical to Amazon and watching Walgreens make bets on VillageMD and CareCentrix, CVS has finally gained a major foothold in health care delivery.
Headversity acquires Health Improvement Solutions to build out its mental health platform (BETAKIT)
“Employers are learning there are no out-of-the-box solutions when it comes to mental health,” said Dr. Ryan Todd, CEO and co-founder of Headversity. “With the acquisition of HIS and its integration into our platform, we’ll have the tools to assess risks and opportunities upfront and help organizations build bespoke programs that fit their needs with our technology,” Todd said.
Alphabet’s Verily raises $1 billion as tech giants enter red hot healthcare sector (TECHCRUNCH)
The influx of capital and executive shuffling come as Verily readies itself for a new phase of growth in a red hot healthcare sector that has attracted tech giants like Amazon and Apple. Earlier this year, Amazon acquired One Medical, a primary care provider that leverages in-person, digital and virtual interactions in its services, in a deal valued at $3.9 billion.
Meet the five Canadian startups participating in Y Combinator’s Summer 2022 Demo Day (BETAKIT)
This time around, only five of these 227 participants are Canadian. This total represents a steep drop compared to Y Combinator’s previous two cohorts, as 16 Canadian startups took part in Winter 2022 and Summer 2021 Demo Days—an all-time high.
Walmart, UnitedHealth to offer preventive healthcare program for seniors (REUTERS)
The 10-year partnership represents Walmart’s latest push into healthcare and could help the retail giant better compete with CVS Health (CVS.N) and Walgreens Boots Alliance (WBA.O).
Panache closes $100 million for second fund as firm doubles down on seed-stage startups (BETAKIT)
Originally launched in 2018 by a team that came out of 500 Startups Canada, Panache’s stated goal at the time was to become “the most active and best-performing fund of its kind in the country.” It’s a feat that Panache has been able to achieve in the last five years, according to Canadian Venture Capital and Private Equity Association (CVCA) data. Panache has invested in 100 companies to date, including Certn, Clutch, MobSquad, and Dooly
Amazon’s $3.9B One Medical purchase is being reviewed by FTC, filings show (FIERCE HEALTHCARE)
Both companies have received a request from the FTC for “additional information and documentary materials … in connection with the FTC’s review of the Merger,” according to the SEC filings. The FTC will consider the additional information alongside the notification and other report forms initially submitted to the regulator and the Department of Justice’s Antitrust Division on Aug. 3, per the filings. The request also extends the companies’ mandatory waiting period by another 30 days.
Amazon plans job cuts in health-care business after shuttering telehealth service (CNBC)
Amazon said 159 employees will be laid off from Amazon Care, based on Worker Adjustment and Retraining Notification (WARN) filings submitted late Thursday. The WARN Act requires employers to provide advance notice, generally within 60 days, of mass layoffs or plant closings.
Telus acquires TSX-listed HR tech firm LifeWorks for $2.3 billion CAD (BETAKIT)
The LifeWorks deal was initially announced in June, following Telus’ recent purchase of healthtech startup Sprout Wellness Solutions. Telus’ other acquisitions, made through its health division, include EQ Care, Akira Health, Nightingale, and ZRX Prescriber.
ArsenalBio Raises $220M As Cell Therapy’s Popularity Grows (CRUNCHBASE)
The company’s Series B marks the second-largest funding among cell therapy startups in 2022, per Crunchbase data. ArsenalBio has raised $305 million since its start in 2019, according to Crunchbase.
Cell therapy transplants healthy, engineered human cells into a patient whose body is too weak to fight disease. As a result, cell therapy has become increasingly promising to scientists as a way to treat a wide variety of diseases.
Canadian-founded healthtech startup Power emerges from stealth with $7 million (BETAKIT)
Power, which is based in San Francisco, was formed last year by Canadian entrepreneurs, Brandon Li and Michael ‘Bask’ Gill, with the mission to modernize the discovery and accessibility of clinical trials. Its open-access platform connects patients to over 30,000 clinical trials and 100,000 researchers spanning 10,000 medical conditions. The startup said it is on track to have more than 500,000 patients this year.
Headspace Health acquires BIPOC-focused mental wellness app Shine (MOBIHEALTHNEWS)
The company’s cofounders and co-CEOs Marah Lidey and Naomi Hirabayashi will take on leadership roles in Headspace’s product and marketing teams. Some Shine engineers and leaders in its client successes and marketing groups will also move to Headspace.
A memory prosthesis could restore memory in people with damaged brains (MIT TECHNOLOGY REVIEW)
The “memory prosthesis,” which involves inserting an electrode deep into the brain, also seems to work in people with memory disorders—and is even more effective in people who had poor memory to begin with, according to new research. In the future, more advanced versions of the memory prosthesis could help people with memory loss due to brain injuries or as a result of aging or degenerative diseases like Alzheimer’s, say the researchers behind the work.
Subscribe to The Healthtech Times
Don’t forget to subscribe to The Healthtech Times using the form below to make sure it hits your email inbox every week!