Finance
The funds will be used to develop AI-enabled ultrasound technology for maternal care and pediatric lung health in low- and middle-income countries.
The care delivery enablement platform scored $8 million and now has a foothold in New Jersey, Pennsylvania, Texas, Florida and Maryland.
Finalization of the deal is contingent upon approvals by state and regulatory authorities.
It was initially launched to help dispel the infodemic that ensued during the recent pandemic.
The deal comes less than a month after the company's plan to combine with digital neurotherapy company MindMaze fell through.
The raise brings the healthcare-focused firm's total committed capital to more than $1 billion.
The company's portable, battery-operated and Bluetooth-connected device with RPM capabilities enables patients to complete respiratory treatments from anywhere.
The company's revenue increased in Q2 of this year to $13.1 million compared to $10.7 million in the first quarter – still below the $18.3 million reported in Q2 2022.
The company also announced its intentions to seek FDA approval for EndeavorOTC, its over-the-counter product for adults with ADHD.
Medicare Advantage insurtech company Clover Health and virtual care company Hims & Hers Health also reported earnings.