H|T: The Healthtech Times – Zymeworks has the blues

Plus: Think Research to continue acquisition spree with new $25 million credit facility.

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!

Think Research to continue acquisition spree with new $25 million credit facility (BETAKIT)

Think Research is an acquisitive healthcare software company that develops tools and content for clinicians. The firm has been active in its acquisition strategy in the last couple of years, backed by numerous moves to expand and switch credit facilities.

Zymeworks receives US$773-million buyout proposal from private capital firm All Blue (THE GLOBE AND MAIL)

Investment firm All Blue Capital has approached Zymeworks Inc, a developer of antibody therapies for cancer, with a US$773-million acquisition offer. In a regulatory filing late on Thursday, All Blue said it had made a non-binding offer for US$10.50 per share in cash, which represents a 116-per-cent premium to Wednesday’s closing price of US$4.86.


Fire your phone company

Join Cisco at the Hockey Hall of Fame in Toronto on May 5 from 2:30-5pm to learn all about how migrating from an on-premise phone system to the cloud is the perfect solution for your business. From easier collaboration to simpler remote work, cloud calling has you covered. You’ll hear from industry experts and attendees will also get a chance to win exciting prizes!

Key learnings include:
– How to cut your collaboration costs in half
– How to combine all of your collaboration apps into one
– How to fire your phone company

Register for the event!

Former Shopify CTO Jean-Michel Lemieux joins BenchSci advisory board (BETAKIT)

Ex-Shopify CTO Jean-Michel Lemieux has joined the advisory board of BenchSci, a pharmaceutical research support company focused on cutting down research times with artificial intelligence.

Biofourmis banks $300M megaround to fuel its growth in remote care, potential M&A deals (FIERCE HEALTHCARE)

Three years ago, technology startup Biofourmis had raised $10 million in total funding. This week, the virtual care and digital medicine-focused company announced a massive $300 million cash injection to fuel its growth.

Teladoc stock dives after disappointing Q1 earnings (MOBIHEALTH NEWS)

Teladoc Health revised its full-year revenue outlook Wednesday after the virtual-care giant reported a $6.7 billion net loss in the first quarter, a significant jump from an approximately $200 million loss in Q1 last year.

How being open to feedback helped Stephany Lapierre scale TealBook (BETAKIT)

On the #CIBCInnovationEconomy podcast, Lapierre explained how feedback became critical to her success with TealBook and her response to critics who say she listens to too much feedback.

How Headspace Health is tackling the global mental health crisis (CNBC)

Digital health and telehealth have high potential, and the space has seen a wave of consolidation to grow scale, but the sector has come crashing back down to earth this year, with some of the most prominent public companies, including Teladoc, Hims & Hers Health, and Amwell, seeing massive stock declines.

Endoscopic AI maker AI Medical Service scores $70M in Series C funding (MOBIHEALTH NEWS)

Japanese medtech firm AI Medical Service has raised 8 billion yen ($70 million) in a Series C funding round led by Masayoshi Son’s SoftBank Vision Fund 2, along with other existing investors Globis Capital Partners, World Innovation Lab, and Incubate Fund.

Vetster raises $30 million in Series B, partners with investor Pet Meds (BETAKIT)

The investment was led by Kensington Capital Partners, as well as existing investors Whitecap Venture Partners and Brightspark Ventures. PetMed Express also participated in the round, committing $5 million to Vetster along with a strategic partnership.

Vivian Health snags $60M for healthcare job marketplace (FIERCE HEALTHCARE)

With healthcare’s staffing crisis expected to continue to worsen, startups like Vivian Health are stepping up to help healthcare organizations tackle staffing shortages.

A VR company is using an artificial patient group to test its chronic pain treatment (THE VERGE)

Virtual reality company AppliedVR is taking an innovative approach to a new trial for its chronic pain treatment. Rather than try to find a group of people with chronic back pain to sign up for the trial and not get the treatment, they’ll pull data from an existing database of chronic pain patients to use as a comparison group — a strategy that has the potential to make clinical trials more efficient.

Allscripts sells hospital business unit in $700M deal with Constellation subsidiary (FIERCE HEALTHCARE)

Harris will acquire a range of assets from the health IT company’s hospital and large physician practices segment, including Sunrise, Paragon, Touchworks, Opal, dbMotion, STAR and Healthquest solutions.

Zymeworks co-founder, former CEO Ali Tehrani joins Amplitude Ventures as venture partner (BETAKIT)

Precision health-focused investment fund Amplitude Ventures has strengthened its team by adding biotech veteran Ali Tehrani as a venture partner. The move comes shortly after Tehrani stepped down as president and CEO of Vancouver-based Zymeworks, which he co-founded over 18 years ago.

Report: Mental health startups raise $5.5B globally in 2021 (MOBIHEALTHNEWS)

That amounts to a 139% increase from 2020, according to CBInsights’ State of Mental Health Tech 2021 Report.

Canadian venture capital investment hits all-time high of $14.2 billion in 2021 (BETAKIT)

Canadian venture capital (VC) investment hit an astounding mark this past year, increasing 215 percent from 2020. VC investment in 2021 hit $14.2 billion, following a trend of record years for venture investment that blew all past years out of the water.

Cigna plans to invest $450M in venture arm for digital health, analytics (FIERCE HEALTHCARE)

Cigna plans to give its venture capital arm a $450 million boost as part of its strategy to increase the company’s shareholder value and deliver long-term growth.

Five tips for startups exploring buy now, pay later (BETAKIT)

PwC’s Andrew Popliger examines Buy Now, Pay Later’s digital adoption and shares tips for startups to ensure their BNPL experience is future-proof.

Health Canada recalls Fitbit watch due to risk of burns (CBC)

The Fitbit Ionic smartwatch has been recalled in the U.S., Canada and Mexico.

Curv Health closes $5.1 million to connect employers, insurers with healthcare providers (BETAKIT)

In an interview with BetaKit, Curv co-founder and CEO, Shea Balish, said the startup quickly realized that there was a much larger opportunity to apply the remote monitoring tech it had developed to its own full-stack digital clinic.

Ro expands fertility services with Dadi acquisition (MOBIHEALTHNEWS)

The deal comes less than a year after the direct-to-consumer virtual care company scooped up Modern Fertility.

FGC Health acquires Pharmacy Access Solutions to help independent pharmacies automate (BETAKIT)

Since 2020, the startup has been on a tear acquiring pharmacies, medical clinics, and an EMS service. The PASI acquisition closed on February 3.

Warburg Pincus co-leads latest funding round in Israel’s MDClone (BNN BLOOMBERG)

MDClone, a synthetic medical data startup, raised $63 million from investors led by Warburg Pincus and Viola Growth to fund global expansion.

We need to keep talking about founder mental health (BETAKIT)

Eigenspace co-founder Jesse Rodgers emphasizes the need for founders to talk about mental health, and shares tips on where to get support.

Nayya nabs $55M to expand its recommendation and personalization engine for healthcare and other benefits (TECHCRUNCH)

The startup has been on a fundraising tear in the last year, a mark of how its service has grown during COVID-19.

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!


Cameron Chaddad

Cameron is a fourth-year journalism student at Carleton University, with a minor in business. Originally from Ottawa, ON, his family roots are both Italian and Lebanese.

0 replies on “H|T: The Healthtech Times – Zymeworks has the blues”