Finance
The newly public company, now trading on Nasdaq under the ticker symbol "AKLI," will use the proceeds from the transaction to launch EndeavorRx, its video game-like digital therapeutic for children with ADHD.
The layoffs represent 13% of the AI-backed genomic and clinical data company's workforce.
A memo sent to employees from CEO David Ko said the company is "not immune to the impacts of the current economic environment."
The multinational digital health company posted Q2 revenue of $265.4 million, compared with $57.5 million during the same period last year. It also reported a $157.1 million loss.
San Diego-based medical device company ResMed has announced the acquisition of mementor, a consumer software developer that offers a digital solution for insomnia.
He's concerned that the acquisition would "provide Amazon with access to enormous tranches of patient data."
The deal with Alternative Reproductive Resources is Kindbody's third so far this year.
The company reported a $3 billion noncash goodwill impairment charge during Q2. Revenue increased 18% year-over-year to $592.4 million.
Virtual care company Included Health said it reduced its headcount by less than 6%, while prescription digital therapeutics maker Pear Therapeutics laid off about 9% of its full-time workforce.
Exo said integrating Medo's AI tools into its platform will let healthcare workers with less ultrasound expertise capture and interpret images.