A top VC warns that 'fundamentally sound' healthcare startups might go under in 2021
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Today in healthcare news, a little break from the barrage of vaccine news: A lot of healthcare startups are "effectively walking dead," Amwell is open to working with big tech, and the 4 home care startups that have raised the most funding.
A top healthcare VC is sounding the alarm that many 'fundamentally sound' startups are in danger of going under after failing to navigate the pandemic
- NEA general partner Mohamad Makhzoumi told Business Insider that, while no one was prepared for the pandemic, some companies with "fundamentally sound" business models could shut down in early 2021.
- While he didn't name specific companies, he said many weren't able to adequately extend their runway.
- "There are a lot of companies that are effectively walking dead. The lights are on but they're really just running out the clock," Makhzoumi told Business Insider.
Read the full story from Megan Hernbroth here>>
Amwell
Amwell's CEO isn't scared by big tech and sees potential partnerships with Google, Apple, Fitbit to push telehealth beyond video visits
- As big tech moves into healthcare, at least one CEO in the industry is excited about it.
- Ido Schoenberg, a co-CEO of telehealth company Amwell, thinks their products could bolster online care.
- He's open to partnerships involving the Apple watch, for instance, as a way to monitor patients at home.
Read the full story from Blake Dodge here>>
Papa
The home care industry is booming amid the pandemic. Here are the 4 startups raking in the most VC funding during a record-breaking year for the industry.
- Startups that provide in-home or virtual care for seniors have hit a windfall in 2020.
- According to Pitchbook data, home care startups have raised more than $228 million from 15 VC deals so far this year, far outpacing the previous fundraising record of $119 million set in 2016.
- Here are the top 4 home care startups still in operation, based on Pitchbook data.
Read the full story from Megan Hernbroth here>>
More stories we're reading:
- Your complete coronavirus vaccine calendar: When candidates are likely to get authorized, and when you could receive your shot (Business Insider)
- Novavax's late-stage coronavirus vaccine trial has hit some delays and is looking to start by late December (FiercePharma)
- One third of America ignored COVID-19 by gathering for Thanksgiving — and it's easy to see why (Business Insider)
- The UK is getting set to approve Pfizer and BioNTech's vaccine within days (Financial Times)
- Lydia
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