H|T: The Healthtech Times – Peloton co-founders resign amid company shakeup

John Foley standing in front of a Peloton sign.
Plus: Well Health crack into TSX30 amid sector downturn.

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WELL Health among few tech companies to crack TSX30 amid sector downturn (BETAKIT)

The companies included in the list were revealed on Thursday, in which oil and gas companies made up the majority of it. Named the TSX30, the program was created in 2019 to recognize companies listed on the exchange with “exceptional” shareholder returns.


The Rounds closes $5.1 million CAD Series A from US VC firm Panoramic Ventures (BETAKIT)

Founded in 2012, The Rounds (whose corporate name is Boondoc Technologies) provides an online collaboration network for physicians and healthcare professionals to discuss various medical topics in specialized groups named “Communities.”


Peloton co-founders resign amid company shakeup (TECHCRUNCH)

In February, co-founder John Foley stepped down as CEO amid a 2,800-person layoff. Spotify CFO Barry McCarthy stepped into the leadership role, before appointing a number of new members to the executive team, in a bid to stem the bleeding, tighten the company’s belt and, perhaps, raise its stock price in the process.

Today, Peloton announced that Foley — who had remained in the executive chair position — has resigned from the company altogether, alongside fellow founder and Chief Legal Officer Hisao Kushi. Foley’s resignation goes into effect today, while Kushi’s is planned for October 3.


Bright secures $1.45 million from Atlantic Canadian investors to bolster its "wellness-at-work" platform (BETAKIT)

The investment was led by Tidal Venture Partners, which focuses on pre-seed and seed startups, and manages a fund that is just over $4 million. Bright’s raise also had participation from Concrete Ventures and Innovacorp—the latter of which is being consolidated with Nova Scotia Business Inc. to form Invest Nova Scotia.


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Galvanize Therapeutics Merges 3 Companies, Nabs $100M (CRUNCHBASE NEWS)

Founded just this year, Galvanize is the brainchild of Apple Tree Partners, a life science-focused firm that incubated the company. The startup was originally envisioned as three companies pursuing different medical problems, but will now be combined to use one platform for multiple use cases.


Flo period tracker launches ‘Anonymous Mode’ to fight abortion privacy concerns (THE VERGE)

In the aftermath of the US Supreme Court decision to end federal protection for abortion, period tracking apps like Flo came under particular scrutiny as users worried that the data trail from those apps could be used against people suspected of having an abortion.


Indigenous venture firm Raven Capital eyes US market as it secures $46 million for second fund (BETAKIT)

“This is a really tough environment to raise [in], and a lot of investors are slowing down right now across the board,” Raven Capital managing partner Paul Lacerte told BetaKit in an interview.

“What we’ve found is sort of a unique value proposition [as the] first to market, and a pretty significant untapped desire on the part of investors to find ways to deploy capital into the Indigenous space, both in Canada and in the US.”


Redesign Health scores $65M to create and launch more healthcare startups (FIERCE HEALTHCARE)

General Catalyst led the series C financing round. CVS Health Ventures, UPMC Enterprises, the innovation and venture capital arm of leading health system UPMC, Eden Global Partners, Euclidean Capital, Samsung Next, TriplePoint Capital and founding investor Declaration Partners also participated in the financing.


Startup syllabus: how Dal Innovates embraced innovation education in Atlantic Canada (BETAKIT)

Halifax’s Dalhousie University (“Dal”), through its award-winning program Dal Innovates, is working to provide this education with multiple programs that encourage and support academics considering or otherwise joining the innovation economy.


“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.


MedLife Acquires Healthtech Startup SanoPass on Its Way to Becoming the Biggest Medical Player in Romania (THE RECURSIVE)

The health startup, launched in 2019, offers subscriptions to medical services, consultations, investigations, medical analyses, dentistry, nutrition, psychology, physiotherapy, advanced imaging, as well as fitness, and aerobics. What’s more, the platform also joined the 24/7 telemedicine trend and has tapped into NFTs to promote their services.


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.


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Michael Edgar

Michael Edgar

Michael is a multimedia journalist and Carleton Journalism alumni working out of Ottawa and Montreal. Follow him on twitter @mwedgar.

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