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Ontario invests $5.25 million to help health companies scale (BETAKIT)
As part of this new program, OBIO will issue select Ontario-based health science companies up to $100,000 in grant funding per company.
The pandemic effect: IPOs the new path for Canadian tech firms
The Canadian tech ecosystem is thriving in Canada. COVID-19, or the “pandemic effect” has resulted in emerging tech companies in Canada eyeing the public market more than ever for growth. This has led to a tech IPO boom early in 2021, with likely more to come.
Weight-loss app Noom raises whopping $540 million in latest funding round (FORBES)
Noom reached a record number of signups during the most recent New Year’s season.
Healthtech company Doximity files for IPO and says doctors will get up to 15% allocation (CNBC)
The company is including a “reserved share program” in the offering so that physicians who use the technology can get shares in the IPO.
Felix Health launches mental health service to meet rising demand during COVID-19 (BETAKIT)
The move comes a few months after Felix secured $10 million CAD in Series A financing led by Whitecap Ventures. To date, Felix has raised a total of $13.3 million CAD.
Frazier Healthcare Partners brings in $1.4B to invest in healthcare IT, data analytics (FIERCE HEALTHCARE)
With its latest healthcare private equity fund, the firm plans to focus on the middle market.
Federal government promises $199.16 million to biotech company Resilience Biotechnologies (BETAKIT)
“[This is] another important step to support Canada’s leadership in the life sciences sector and to build its pandemic preparedness.”
Amazon and Walmart have an Rx for healthcare. The cure won’t be easy. (WALL STREET JOURNAL)
Tech, banking and retail giants face numerous obstacles in their efforts to fix — and profit from — an industry that attracts $4 trillion annually.
Ada Health raises $90m, plans further US expansion (SIFTED)
The symptom-checking app is doubling down on partnerships with health insurers and health systems — in the US in particular.
Why startups are easier targets for cybercrime (and what founders can do about it) (BETAKIT)
Microsoft Canada CSO Kevin Magee explains how startup leaders can prioritize security without impacting growth potential.
Telehealth staffing and tech services startup Wheel banks $50M to power virtual care (FIERCE HEALTHCARE)
The COVID-19 pandemic has driven a telehealth boom and one fast-growing startup has been behind the scenes powering the infrastructure behind virtual care.
BioBox Analytics launches platform to help scientists analyze genomic data (BETAKIT)
BioBox’s founding team launched the startup to address some of the technical and collaborative barriers faced by scientists who work with genomic data.
Staffing firm AMN Healthcare buys telehealth provider for $42.5M (MED CITY NEWS)
The acquisition is a part of the company’s strategy to keep pace with the evolving market, where a greater emphasis is being placed on virtual care delivery and remote patient monitoring.
A new tool tracks health disparities in the U.S. — and highlights major data gaps (STAT NEWS)
By making data that do exist on racial health disparities accessible, the tracker aims to empower local advocates to drive change in their communities — and inspire action to fill in holes in data that are themselves reinforced by structural racism.