Business
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Investment firm Kuwait Life Sciences Company's Dr. Mussaad M. Al-Razouki gives a breakdown of recently filed or finalized digital health SPACs, as well as a list of unicorns ripe for a potential merger.
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The Israeli startup raised the first $50 million in April 2020 in a round led by Insight Partners, which led this extension as well.
Hillrom says that lower-than-expected reimbursement rates proposed in late January void the deal. But the cardiac-monitoring device maker asserts they were accounted for during negotiations.
This brings the company's total valuation to $1.7 billion.
The company is initially targeting the large employer market with its app-connected biometric monitoring tools.
The company currently manages one million lives, and plans to expand its footprint with the new funds.
Along with the support of a Google Cloud-backed data platform, the partners will work to build and validate digital health programs for early intervention and engagement.
Numan plans to continue its expansion organically and through further M&A activity.