Rebecca Torrence

A 24-slide presentation Insider obtained shows how Medly planned to transform the pharmacy experience even as its losses grew.

Medly filed for Chapter 11 bankruptcy protection on Friday evening. The startup had slashed its staff and closed stores as it burned through cash.

We asked investors to name the startups poised for success in a tough market, from young upstarts to companies on the brink of going public.

Some digital-health startups will IPO in 2023 while others will turn to debt or mergers to stay afloat, according to SVB Securities’ Jon Swope.

Carbon Health landed $100 million from CVS as digital-health funding slumped. Its CEO, Eren Bali, said it’s slowing its growth in a hostile market.

Kinspire just raised $3.6 million in seed funding to provide virtual occupational therapy to kids with conditions such as ADHD and autism.

Startup valuations are crashing, and healthcare’s hottest unicorns could take a hit. These are the 15 highest-valued startups to watch in 2023.

The once-hot pharmacy startup Medly is selling its core pharmacy business to Walgreens for $19 million. The company declared bankruptcy in December.

Angle Health raised $58 million for tech-enabled health insurance. The startup says it can succeed where insurers like Bright and Clover slipped.

Medly laid off its remaining staff, sold its pharmacy inventory to Walgreens, and is closing its stores after declaring bankruptcy.

Some digital health startups are still catching investor attention. VCs are betting these startups will last in a down market.

Digital health startups are slashing staff to stay afloat. Here are the ones that have cut employees so far in 2023.

Twentyeight Health grabbed $8.3 million in pre-Series A funding using this pitch deck to provide birth control to underserved patients.

Cerebral is laying off 285 employees, its third round of cuts in less than a year, as the mental-health startup fights for its survival.

Startups are raising millions to build businesses around drugs like Ozempic and Wegovy, as they chase a market set to surge to $90 billion.

Dr. Rene Caissie, Medeloop’s cofounder and CEO, first got into healthcare tech in 2011, when he built his own electronic-medical-records system based on his gripes with existing software.That company was acquired in 2015.Caissie, who was born in Canada and previously worked as an oral and facial surgeon, wanted to build tech to solve problems he’d faced as a doctor and researcher. In 2021, he left Montreal to attend Stanford University’s business school to get his MBA and build a tech platform,…

The General Catalyst-backed startups Commure and Athelas are merging in a deal to bring more artificial-intelligence tech to hospitals and health systems.The new company, which is keeping the name Commure, plans to stack Athelas’ software on top of Commure’s data platform for health systems. General Catalyst is investing $70 million in the new firm at a $6 billion valuation, and Tanay Tandon, the founder and CEO of Athelas, will lead the combined company.Commure, cofounded by General Catalyst’s…

After Hinge Health raised $300 million in Series D funding in January 2021, CEO Daniel Perez told Reuters that the startup hoped to go public in 2022.That was before interest rates soared and the economy slumped and closed the IPO window for healthcare startups that planned to make their public-market debuts.Hinge Health, which provides virtual physical therapy for joint and muscle pain, has since been biding its time — and is now gearing up for an IPO when the public markets stabilize, Perez sa…

Healthcare staffing firm Nomad Health just cut its workforce for the second time this year, as high inflation continues to squeeze hospital budgets.The startup slashed about 25% of its staff, according to two former employees affected by the cuts, as well as at least eight LinkedIn posts by current and former workers. The former employees asked not to be identified to avoid retribution from the company.Nomad Health, which connects nurses and other health professionals to open jobs, confirmed in…

Christina started taking Wegovy in September 2021 after getting a prescription through Calibrate, a startup that promises science-backed help with weight loss. She’d already tried dieting and exercising, but nothing had worked for her.After about five months of the weight-loss injections alongside the diabetes drug metformin, Christina had lost 60 pounds, she said, “and my whole life changed.” Her heart rate slowed, breathing became easier, and she could complete tasks that used to exhaust her,…