Investor

Like others in the space, the 43-year-old owner of the NordicTrack, Freemotion, ProForm and iFit brands has seen revenues rise amidst social distancing.

Investment proceeds will primarily fund FDA registration studies and opening of US headquarters.

Rock Health reports $4 billion in funding for U.S. digital health startups this quarter, much of which was driven by a flurry of telehealth investments and late-stage rounds for R&D and fitness tech companies.

The funding was invested by fellow health company Reckitt Benckiser. 

The newly announced deal is expected to close in Q4 2020, and values the direct-to-consumer telehealth company's combined entity at $1.6 billion.

Also European virtual care company HomeDoctor scores $4.3M and sexual health company Emjoy closes seed funding round. 

2020 is shaping up to be a record-breaking year for digital health startups. 

The company says it wants to build a system that generates more drug candidates with fewer experiments in less time.

Along with funds announced a few months back, this brings the round's total to $20.8 million.

The acquisition deal is worth $300 million, per CNBC.