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Well Health Technologies posts record Q1 revenue, announces $30 million bought deal offering to fuel acquisitions (BETAKIT)
Strategic acquisitions represent a key part of Well Health’s growth strategy, and the company plans to execute even more, entering into a bought deal offering to sell $30 million worth of Well Health common shares to support these efforts.
Vancouver biotech Zymeworks rejects $10.50-a- share hostile bid from Dubai hedge fund All Blue (THE GLOBE AND MAIL)
All Blue Falcons FZE, an arm of All Blue Capital, in late April made a $10.50-a-share cash offer, valuing Zymeworks at US$773-million. It made the bid after a tumultuous year for Zymeworks, once Canada’s most valuable early-stage drug developer.
Canadian tech venture deal count continued to decline in Q1 2022, but total investment stayed high: CVCA (BETAKIT)
A new report from the Canadian Venture Capital and Private Equity Association (CVCA) states that in the first quarter of 2022, $1.4 billion CAD was invested in 212 private equity (PE) deals. That marks the second-highest number of deals for a single quarter on record; 215 deals were made in Q4, 2021.
Cerebral Replaces CEO Kyle Robertson, a Move He Calls Illegal (THE WALL STREET JOURNAL)
The board said in the statement that it has replaced Mr. Robertson with David Mou, the company’s president and chief medical officer. The leadership tumult comes as the company is facing a federal probe into its prescription practices and possible violations of the Controlled Substances Act.
Learn, share and be inspired by the startups, entrepreneurs, policy makers and thought leaders who are transforming the global healthcare space as they explore the latest breakthroughs at Inventures, June 1-3 in Calgary.
Health innovation is occurring at an increasingly rapid pace in Canada and around the world, with technology leading the way. Faced with the rising cost of acute healthcare, an aging population and changing citizen expectations, policymakers, healthcare providers and taxpayers alike are seeking new ways to deliver services and achieve better outcomes.
Like other tech stocks, healthtech stocks are currently circling the toilet, despite Canadian firms posting slightly robust first quarterly earnings. Dialogue Health Technologies and LifeSpeak Inc. both posted earnings reports for the first quarter of 2022.
Shares fell as much as 25% in the extended session, selling for less than the $26 price in Doximity’s initial public offering less than a year ago, after closing at $33.89. Its shares have never traded for less than $27.06 in a regular session since going public, and have never closed lower than $28.46, according to FactSet records.
Fertility support startups banked $345M in 2021. Here’s why the business of family planning is booming (FIERCE HEALTHCARE)
Fertility benefits, which could include egg freezing, in vitro fertilization (IVF) and surrogacy, have become a top workplace perk as companies try to attract talent and remain competitive in a tight labor market.
Think Research posts record 438 percent revenue increase in Q4 2021 following acquisitions (BETAKIT)
The Toronto-based healthtech firm disclosed its Q4 and full-year 2021 earnings, sharing that it pulled in $19.1 million in revenue in the fourth quarter—a 438 percent rise compared to the same period in 2020. The company’s net loss in Q4 was $7.6 million, an improvement relative to the $13.1 million it lost during the fourth quarter of 2020.
Privacy experts immediately said that period tracking and other apps could become a target for law enforcement agencies or motivated vigilantes to exploit to identify potential people seeking abortions or those providing them.
Nicoya acquires University of Toronto spinout LSK Technologies to bolster testing capabilities, expedite product roadmap (BETAKIT)
The deal represents Nicoya’s first acquisition to date. LSK, which was spun out of the University of Toronto (U of T), claims to offer “lab-quality testing without the lab.” The financial terms of the transaction, which will see Nicoya acquire LSK’s team, tech, and customers, were not disclosed.
Turquoise Health raises $20M to boost price transparency (MEDCITY NEWS)
On Wednesday, the San Diego-based startup announced it raised $20 million in Series A funding led by existing investor Andreessen Horowitz (a16z) to make transparent pricing ubiquitous in healthcare.
Shareholder files class-action suit against Oscar Health over IPO financial disclosures (FIERCE HEALTHCARE)
In the suit, which was filed late last week in New York district court, shareholder Lorin Carpenter said key information about its performance during the pandemic was omitted from Oscar’s filings before the IPO. For one, the registration statement failed to disclose that the company’s testing and treatment costs related to COVID-19 were growing.
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