After elevating $65 million in a Collection C spherical a few month in the past, Rethinking well beingan organization that builds, launches and finds funding for different healthcare startups, is shedding 67 staff, or about 20% of its workforce.
Transmitted Well being Rework MobiHealthNews E mail from CEO Brett Shaheen that he despatched to staff.
In correspondence, Shaheen stated the corporate “made the choice to restructure a few of our departments and remove 67 positions, or simply over 20% of our enterprise.”
“Since day one, we now have repeatedly developed our mannequin to allow extra devoted innovation at scale, with the aim of positively impacting the lives of tens of tens of millions of individuals. As a part of this steady evolution, and given the necessity to prioritize in a difficult market, we’re making the tough choice to downsize some groups throughout the enterprise whereas persevering with to develop others. that we will create better affect for our founders and companions,” he wrote.
“Whereas I consider these adjustments are crucial, Redesign Well being will lose some extremely gifted and dedicated staff members right now. We’re supporting these affected by offering full severance and are deeply grateful for the affect. constructive they’ve had on Redesign and the healthcare trade.”
The corporate additionally stated the layoffs could also be associated to its continued strategic evolution, versus a monetary choice, as evidenced by its current $65 million Collection C increase.
Redesign Well being says it has a wholesome steadiness sheet and continues to rent. It has roles open on its web site and expects to finish the primary quarter of 2023 with a complete headcount at or close to the extent earlier than the current downsizing, reallocated between restructured departments in accordance with its new priorities.
Redesign has launched greater than 40 well being tech firms since its inception in 2018, together with a most cancers care coordination platform Well being Jasperweight administration firm Calibratepsychological well being firm Rebellion and residential care enterprise MedArrive.
The layoffs at Redesign Well being had been first reported by quick firm.
THE GREAT TREND
A number of firms have not too long ago introduced layoffs because of a change in plans or administration.
California-based startup Healing, which presents COVID-19 testing and vaccination companies throughout america, targeted on launching a brand new well being plan. In flip, he plans to put off 109 staff in early November.
Platoonwho reduce 500 staff in its fourth spherical of layoffs earlier this month, citing the necessity to restructure the corporate after monetary difficulties. The house health enterprise has seen a considerable increase throughout the pandemic, which has since subsided.