Business
The Silicon Valley Bank report found health tech companies in the U.S. and European Union have raised about $23 billion through the end of September this year.
Walgreens-backed VillageMD signed an agreement to purchase Summit Health, a multispecialty medical practice and parent company of urgent care provider CityMD. The deal is expected to close early next year.
The layoffs come three months after a $10 million extension that brought its Series C round to $115 million.
The company will expand its team and product offerings, including direct-to-consumer operations, thanks to the FDA's approval of over-the-counter sales of hearing aids.
The company said it will use the funding to accelerate its go-to-market push.
AeroDPC will operate as a subsidiary of Hint Health immediately following the deal. In 2023, the company plans to release a new product combining AeroDPC and HintOS' capabilities.
The company will expand its team by 300% by 2023 and expand the rollout of its services in the U.S. market.
The pre-seed will be used to expand the startup's clinical operations and research as well as improve its proprietary clinical protocols.
The company also announced a partnership with managed care organization CareSource to study the benefits of using virtual reality with patients receiving home and community-based services.
The company received the funds as part of growth equity financing.