Plus: Truepill moves to cut share price by 90 percent.
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PointClickCare launches PatientPay integration to increase payment efficiency in health-care facilities (BETAKIT)
Toronto-based health technology firm PointClickCare is integrating with American company PatientPay to help health-care facilities improve payment efficiency.
With this integration, long-term and post-acute care facilities using PointClickCare’s software now have access to PatientPay’s technology. This will allow them to manage payments on a single platform and use PatientPay’s payment tools.
AbCellera denies claim it uses tech developed by outside scientist
(THE LOGIC)
AbCellera, a Vancouver-based biotech, is denying allegations of patent infringement, as well as claims that its chief executive breached an agreement with a scientist he once worked with.
The estate of John William Schrader filed a lawsuit in October claiming it suffered “damages and loss” as a result of AbCellera’s and CEO Carl Hansen’s actions.
POWERED BY: TECHNATION
Addressing Canada’s talent gap in the tech industry boils down to removing the barriers for equity-deserving groups.
The Advanced Digital and Professional Training (ADaPT) program is a cost-free digital and professional skills development initiative that bridges the employment gap. It equips students in their final semester and post-secondary graduates with in-demand skills for entry-level tech roles. ADaPT supports a diverse group of talent from varied educational backgrounds, with 81% of participants identifying as belonging to at least one equity-deserving group. Backed by 70+ hours of intensive training, the program exposes participants to tech career pathways.
The ADaPT program is funded by the Government of Canada’s Future Skills Centre and led by Toronto Metropolitan University’s Diversity Institute in collaboration with TECHNATION Canada.
To support future talent in thriving tech careers within Canada’s changing job market and become an ADaPT employer, find out more here.
Digital medical-billing platform ResolvMD secures $2-million loan from PaceZero to pursue strategic acquisitions (BETAKIT)
Toronto-based private credit firm PaceZero Capital Partners is providing $2 million CAD in growth financing to Calgary healthtech startup ResolvMD.
ResolvMD, which sells software that it claims simplifies and streamlines the medical billing process for physicians, plans to use this term loan to fuel its product development plans and pursue growth opportunities across Alberta.
Exclusive: Healthcare software firm Waystar eyes $8 bln valuation in U.S. IPO-sources (REUTERS)
Waystar Inc, a private equity-owned vendor of software that helps hospitals and doctors’ practices manage their finances, has tapped banks for an initial public offering that could value it at as much as $8 billion.
The IPO could come later this year or early next year, subject to market conditions.
OBIO offering up to $20,000 in grants to women-led health science companies (BETAKIT)
This week, Ontario Bioscience Innovation Organization (OBIO) kicked off a call for applications for its Women in Health Initiative meant to train women to further ensure their participation and success in the health sciences sector.
The OBIO is offering women-led companies in the health sciences space up to $20,000 CAD in grant funding through the Women in Health Initiative
Drug Startup Truepill Moves to Cut Share Price 90% as Garry Tan Departs Board (THE INFORMATION)
Truepill, a startup that ships prescription drugs on behalf of online pharmacies, has authorized slashing the price of some of its shares by more than 90% from their peak in 2021, according to a recent filing provided by Prime Unicorn Index.
In 2021, the startup said investors had valued it at $1.6 billion.
Four startup growth tips for founders, from founders (BETAKIT)
No two startup journeys are identical. However, trends can emerge across businesses and, as the saying goes, success leaves clues.
As part of a CIBC Innovation Banking video series, leaders from four different companies–Bridgit, 7Shifts, Jane App, and Bloomerang–shared the key lesson that helped them scale.
Venture firm Questa Capital scores $397M to invest in health technology (MOBIHEALTHNEWS)
Questa Capital Management, a healthcare-focused venture firm, announced it closed a $397 million venture growth equity fund dubbed Questa Capital III, bringing its total raise to over $1 billion.
The firm will use the capital to invest in 10 to 14 early-stage companies in the healthcare services, medical device and technology sectors.
Early-stage VC funding and mega-deals carry Canada to second-largest Q2 on record (BETAKIT)
As Canadian tech companies and investors continue to contend with tough economic conditions, the sector just posted its second-largest second quarter on record for venture capital funding, according to the Canadian Venture Capital and Private Equity Association (CVCA).
Per CVCA’s latest VC market report, in the second quarter, $2.8 billion CAD was put into Canadian tech startups across 170 deals. By dollars invested, this total represents a 140 percent jump quarter-over-quarter.
AI biotech company Genesis scores $200M to advance drug discovery (MOBIHEALTHNEWS)
California-based AI drug discovery startup Genesis announced it scored a whopping $200 million in a Series B funding round, bringing its total raise to $280 million.
Genesis will invest in developing novel generative and predictive AI methods and leverage its molecular AI platform dubbed Genesis Exploration of Molecular Space (GEMS) to explore targets that were previously difficult to drug.
Elevate, The Firehood reveal first cohort of 37 startups in new incubator for women entrepreneurs (BETAKIT)
The Firehood, an angel network that focuses on supporting women in the technology sector, and Toronto-based nonprofit Elevate have unveiled the 37 startups participating in the first cohort of its joint incubator for women entrepreneurs, the Women+ Entrepreneur Incubator.
Bayer, AstraZeneca gain early access to AI-driven ‘digital twins’ courtesy of Altis collab (FIERCE BIOTECH)
Coming off a $7.9 million seed in June, canadian computational imaging company Altis Labs will lead an international project that includes drug giants AstraZeneca and Bayer to advance the use of “digital twins” in clinical trials.
Digital twins are simulations that help drug developers and clinicians understand how a patient and/or a therapy may perform in real-life situations.
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Alex Riehl
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