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AI-backed distant monitoring and digital therapeutics firm Biofourmis confirmed the corporate’s cofounder Kuldeep Singh Rajput stepped down as its CEO only one month after the corporate laid off 120 employees worldwide, 48 of whom had been within the U.S.
“He stays dedicated to offering assist and recommendation to the corporate going ahead,” Biofourmis advised MobiHealthNews in an e-mail. “We thank Kuldeep for his imaginative and prescient and repair to Biofourmis and need him success in his future endeavors, and we’re conducting a seek for a brand new chief government.”
The Boston-based firm mentioned that Ben Wanamaker has been appointed to its board of administrators and can oversee its new “Workplace of the CEO.”
“The corporate has instituted an Workplace of the CEO, which incorporates Maulik Majmudar, chief medical officer and cofounder of Biofourmis; Renika Seghal, chief monetary officer; Milan Shah, chief know-how officer; Daniel Tune, common counsel; and Jaydev Thakkar, chief working officer. This Workplace of the CEO will direct the corporate’s common operations and Ben Wanamaker could have oversight of the Workplace,” Biofourmis advised MobiHealthNews.
Wanamaker most lately served as vice chairman of enterprise technique at Humana and beforehand held the positions of vice chairman and common supervisor of analytics product at Aetna and director of technique and operations of well being companies at Walmart.
“Biofourmis is a frontrunner within the technology-enabled healthcare supply market, and we’re dedicated to our mission to remodel healthcare by harnessing the ability of know-how and information,” the corporate mentioned.
THE LARGER TREND
Biofourmis, which gives house care instruments to assist remotely monitor acute and post-acute sufferers and a digital specialty care platform referred to as Biofourmis Care centered on managing sufferers with persistent circumstances, confirmed to MobiHealthNews that it laid off employees in operational and administrative roles final month to deal with “accelerating progress within the U.S. market.”
The layoffs got here roughly a yr after the corporate scored $300 million in Series D funding, bringing it to unicorn standing with a valuation of $1.3 billion. 4 months later, the corporate added $20 million to its Collection D spherical.
In 2020, Biofourmis garnered $100 million in Series C funding.
Earlier this yr, the corporate announced a four-year collaboration with Georgia-based well being system Augusta University Health and a multi-year agreement with Florida-based Orlando Health.
Different firms within the distant affected person monitoring house embrace Best Buy’s Current Health, well being tech firm Withings Health Solutions and digital care platform Cadence.
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