Loyal gets $33.5M, CEO steps down
Loyal, a health tech company focused on patient engagement, received $33.5 million in a Series B funding round.
Private equity firm Concord Health Partners and existing unnamed investors participated in the round.
Related: Top digital health funding: CVS, a16z back Thyme Care
Loyal also said in a release that founder Chad Mallory has stepped down from his position as chair and CEO in the latest example of a sector-wide trend. He has transitioned to a senior advisor role, effective Friday. The company's leadership team and board of directors will be initiating the executive search for Loyal's replacement, a spokesperson said.
The funding will be used to grow Loyal’s customer base and expand product development, according to the news release.
Headway confirms $100M round, $2.3B valuation
Mental health startup Headway confirmed Tuesday it has raised $100 million in a Series D funding round that values the company at $2.3 billion. The round was first reported on July 12 by Bloomberg. Read more.
Northwell, Mayo invest in lab startup Clarapath
Clarapath, a medical robotics company focused on pathology laboratories, received $36 million in a Series B funding round.
Northwell Ventures, the venture capital arm of New Hyde Park, New York-based Northwell Health, led the round. The company also received investment from Mayo Clinic, Ochsner Ventures and University of Colorado Anschutz Medical Campus’ affiliated CU Healthcare Innovation Fund.
Clarapath’s SectionStar system uses robotics, machine vision and digital tools to work toward automating pathology lab processes for hospitals. The company said in a release it will use the funds to commercialize its technology.
Vitable nabs $16M for primary care
Primary care-focused startup Vitable Health received $16 million in a Series A funding round.
Venture capital firm Cherryrock Capital led the round. Venture capital firms Newark Venture Partners, First Round Capital and Commerce Ventures, as well as startup incubator Y Combinator and a fund associated with financial institution Citi, also participated.
Vitable offers primary care both at home and virtually for employees at self-insured employers and small businesses. It covers 50,000 people across six states and Washington, D.C. The goal with this round of funding is to expand into 40 states or more, according to a blog written by founder and CEO Joseph Kitonga.
SoundHealth takes in $7M for wearable
SoundHealth, which has developed a wearable device for nasal congestion, received $7 million in a seed funding round.
Venture capital investors Moai Capital and J4 Ventures led the round. Investors TeleSoft Partners, Tau Ventures, TechU Ventures and Rhythm Venture Capital also participated.
SoundHealth has developed an artificial intelligence-enabled wearable medical device for the treatment of moderate to severe nasal congestion. The company, which received a De Novo classification for the device from the Food and Drug Administration, said in a release it will use the funds to enhance commercialization and marketing efforts.
