Investor
The South Korean company now plans to expand the application of its AI to diagnose other medical conditions, including heart and neurological disorders.
The continuous glucose monitoring biosensor platform will use the funds to scale its manufacturing, move toward regulatory approval and perform more clinical trials.
The company will use the funds to enter into strategic relationships with life sciences organizations focusing on oncology and specialty care.
The company offers adults and children virtual care sessions with therapists, homework and educational content.
Sonio will remain an independent company following the acquisition.
The Delaware-based company provides self-insured employers with data and strategies to reduce costs associated with prescription medications.
The company's stock price dropped after it released its first-quarter earnings and lowered its full-year guidance despite an increase in revenue.
Payments and revenue cycle-management company Sift Healthcare, nursing-scheduling and management platform In-House Health, and analytics and risk-stratification company OptMyCare also secured funding.
Clover Health reports first-time profitability on an adjusted EBITDA basis in the first quarter.
The quarter marks the first time the company reported profitability on an adjusted EBITDA basis.