Plus: MFine is not fine.
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Doctor-founded Cherry Health closes $1.23 million to expand job-matching platform for physicians (BETAKIT)
The Calgary-based healthtech startup, which describes itself as “Canada’s medical staffing network,” offers a smartphone-based self-serve job-matching app that connects doctors to medical clinics seeking to fill locum positions.
Exclusive: Healthtech Startup MFine Fires 75% Workforce, 600 Employees Impacted (INC42)
In most of the cases, financial difficulties was cited as the reason for the layoff. Though, as per LinkedIn, the startup had 516 employees, multiple sources informed Inc42 that MFine had roughly 800 employees. “My whole team is crying after yesterday’s event. Some have small kids, some have pregnant wives, and some are early earners. I am just trying to get them jobs,” one of the employees informed Inc42.
Dependbuild, Easy Platter, PragmaClin Research win collective $75,000 from Volta pitch contest (BETAKIT)
The winners beat out 7 other competitors at this year’s Volta Cohort Pitch Event, the first in-person edition of the contest since the onset of the pandemic in 2020. In the past, Volta usually selected five winners among the ten, opting this year to choose just three. A spokesperson for Volta told BetaKit that each competition awards up to five investments, noting that there is no guarantee that all five will be given out.
CVS will stop filling Cerebral, Done Health prescriptions for controlled drugs (FIERCE HEALTHCARE)
The pharmacy retail giant recently conducted a review of certain telehealth companies that prescribe controlled substance medications. “As a result of our being unable to resolve concerns we have with Cerebral and Done Health, effective May 26, 2022 CVS Pharmacy will no longer accept prescriptions for controlled substances issued through these companies,” a spokesperson said in a statement to Fierce Healthcare Wednesday.
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Canadian innovators wonder what proposed SR&ED review will accomplish (BETAKIT)
Speaking over the phone with BetaKit, Munro noted the Scientific Research and Experimental Development program–better known as SR&ED–isn’t working, in his opinion. But he wasn’t convinced another review of the $4 billion annual program would fix things. After all, the SR&ED program has been tinkered with and reviewed almost constantly since it was first established in 1944.
23andMe posts $217M net loss during ‘transitional’ fiscal year (MOBIHEALTHNEWS)
“Fiscal year 2022 was a transitional year for 23andMe. It was highlighted by our public listing in June 2021, followed in November by the strategically important acquisition of Lemonaid Health, which now underpins our planned introduction of a genomic health service,” CFO Steve Schoch said during an earnings call.
The federal government wants to address Canada’s intellectual property woes, but is its strategy paying off? (BETAKIT)
While companies like Ranovus demonstrate how Canadian tech companies can scale through the development of IP, many stakeholders from the IP sector believe that most Canadian startups are not deriving value from their IP, which has put Canada behind its peers in the global race for IP rights.
London-based uMotif raises €23.8M for its scalable patient-centred data capture platform (SILICON CANALS)
The company’s patient-facing technology captures data for clinical research initiatives and also captures compliant and validated patient-generated e-consent, eCOA, ePRO, PROM, and PREM data for researchers and clinicians. This allows pharmaceutical companies to capture ‘rich’ health data across a range of conditions.
Aging-in-Place Company Homethrive Raises $20M, Plans ‘Aggressive Expansion’ in Payer Marketplace (HOME HEALTH CARE NEWS)
“This funding will help us build up our sales and marketing capabilities, expand them to be able to reach more people and evangelize for this kind of family-caregiver support,” Dave Jacobs, co-founder and co-CEO of Homethrive, told Home Health Care News. “And it will also help people understand how Homethrive’s solution really uniquely meets that need.”
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.
Miga Health Raises $12M Seed Round To Build Heart Health App (CRUNCHBASE NEWS)
Aguirre said changing the heart health outcomes for some people isn’t dependent on breakthroughs in science, like it is for other diseases. “So much of that is preventable and the medicine and diagnostics exist today to have a much, much different status quo,” he said. The company wants to create a consumer brand similar to meditation app Headspace or language learning platform Duolingo, with the added feature of clinical care.
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