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Search resuls for: "David Mou"


9 mentions found


☆ Exclusive: An investor in once-hot mental health startup Cerebral is suing the company
  + stars: | 2024-04-03 | by ( Rebecca Torrence | ) www.businessinsider.com   time to read: +5 min
Read previewAccess Industries, the investment firm founded by billionaire Len Blavatnik that invested in mental health company Cerebral, is suing the company and another of its backers as tensions mount inside the mental health company, according to documents obtained by Business Insider. It's the latest challenge to the once-hot mental health startup, which launched in 2020 to provide mental healthcare online. The lawsuit, filed by Access Industries on April 2 in Delaware, alleges an undercover power grab by WestCap, another Cerebral investor. A sinking shipOnce the hottest and fastest-growing mental health startup, Cerebral's fall from grace has been stunning. Since then, Cerebral hasn't raised any more venture funding, and the mental health company has conducted at least three rounds of layoffs.
Persons: —, Len Blavatnik, WestCap, David Mou, SoftBank Organizations: Service, Business, US Department of Justice, Access Industries, DOJ, Industries, Wall Street Journal, Bloomberg, US Drug Enforcement Administration, New York Locations: Delaware, WestCap
☆ Troubled mental-health startup Cerebral is cutting 15% of staff as it fights to stay afloat
  + stars: | 2023-02-27 | by ( Rebecca Torrence | Blake Dodge | ) www.businessinsider.com   time to read: +4 min
Cerebral plans to cut 15% of its staff, or 285 employees, Insider has learned. Cerebral has been struggling to stay afloat following scrutiny of its prescription practices. Mental-health startup Cerebral is laying off 15% of its workforce, or about 285 employees, as the company reels from a tumultuous year of public scrutiny and federal investigations into its prescribing practices. Impacted employees will be notified through March 1, per Mou's email to Cerebral staff. Cerebral's rocky futureIn 2021, Cerebral called itself the fastest-growing mental-health company.
☆ How Cerebral went from a hyped $4.8 billion mental-health startup to fighting for its survival
  + stars: | 2022-12-22 | by ( Blake Dodge | ) www.businessinsider.com   time to read: +10 min
It called itself the fastest-growing mental-health company. Some Cerebral clinicians told Insider they were uncomfortable treating the patients assigned to them and felt their licenses were at risk. In the past few years, highly funded startups have tried to disrupt mental-health care and struggled. Cerebral's next steps will dictate its future, and its story could influence what's ahead for online mental-health care. A former Cerebral provider told Insider the ban was frustrating because many patients who were improving on the drugs lost access to care at Cerebral.
☆ The ex-CEO of mental-health startup Cerebral is threatening to sue the company and claims he was scapegoated by VCs who pushed rampant prescribing of addictive drugs
  + stars: | 2022-11-11 | by ( Blake Dodge | ) www.businessinsider.com   time to read: +3 min
Former Cerebral CEO Kyle Robertson just notified the company that he may be gearing up for a lawsuit. Robertson was pushed out in May amid concerns about Cerebral's prescribing practices. Called a "books and records" letter, it demands that the company allow Robertson to access information from the mental-health startup's files in preparation for a potential lawsuit. A Cerebral spokesperson said that Robertson's claims are "categorically untrue and baseless in law and in fact." In the letter, Robertson says that he also wants to investigate an improper valuation of the company's stock and allegations that he was discriminated against on the basis of his LGBTQ status.
☆ Leaked audio reveals Cerebral execs telling workers they blew through too much money too quickly. Here's how the embattled mental-health startup is changing course.
  + stars: | 2022-11-02 | by ( Blake Dodge | ) www.businessinsider.com   time to read: +8 min
The embattled startup hired against unprofitable growth, Jess Muse, Cerebral's president, said. Cerebral, she said, paid more money on advertising to bring in new patients than it recouped by providing mental-health services and prescriptions. Prioritizing turning a profitCerebral leaders held a series of staff meetings on Monday. During the Monday staff meetings, at least two employees expressed concerns about the increased workload, since remaining staff are taking on patients of those who were laid off. Several employees accused company leaders of blindsiding workers with layoffs after the employees said they were assured the company was performing well.
☆ Cerebral to Cut About 20% of Staff as Its Operations Shrink
  + stars: | 2022-10-24 | by ( Khadeeja Safdar | Rolfe Winkler | ) www.wsj.com   time to read: 1 min
Cerebral said in a memo that the moves would affect all of the company’s divisions. Telehealth startup Cerebral Inc. told staffers it is cutting jobs and restructuring its operations in moves that will affect about 20% of its employees, shrinking the company to match patient demand and lower growth targets. In a memo to staff on Monday, Chief Executive David Mou said the changes would be spread across all divisions, including headquarters, clinical-care teams and support staff. He said employees would be notified over the course of the week, according to the memo, which was viewed by The Wall Street Journal.
☆ Cerebral to Cut About 20% of Workers as It Shrinks Operations
  + stars: | 2022-10-24 | by ( Khadeeja Safdar | Rolfe Winkler | ) www.wsj.com   time to read: 1 min
Cerebral said the moves would be spread across all of its divisions. Telehealth startup Cerebral Inc. told staffers it is cutting jobs and restructuring its operations in moves that will affect about 20% of its employees, shrinking the company to match patient demand and lower growth targets. In a memo to staff on Monday, Chief Executive David Mou said the changes would be spread across all divisions, including headquarters, clinical-care teams and support staff. He said employees would be notified over the course of the week, according to the memo, which was reviewed by The Wall Street Journal.
☆ SoftBank-backed Cerebral is cutting 20% of its employees as demand for its services slows
  + stars: | 2022-10-24 | by ( Blake Dodge | ) www.businessinsider.com   time to read: +7 min
Cerebral, the SoftBank-backed mental-health startup, is making changes and cuts that will affect about 20% of its employees, Cerebral CEO Dr. David Mou said in an email to employees, reviewed by Insider. In the October 24 email, Mou said the company was adjusting the size of clinician teams to better match patient demand. Employees will be notified of changes throughout the week, Mou said. "We are deeply appreciative of our employees' commitment to our mission and service to Cerebral," the spokesperson said in the statement. These changes will be spread across all divisions - HQ Operations, HQ Support, Clinical Care - affecting approximately 20% of our employees.
☆ Cerebral is trying out an unusual clinical trial for a depression drug that has other companies wary. Here’s why.
  + stars: | 2022-01-14 | by ( Megan Hernbroth | ) www.businessinsider.com   time to read: +6 min
The mental-health startup Cerebral partnered with Alto Neuroscience for a clinical trial. The mental-health startup Cerebral is teaming up with Alto Neuroscience on an upcoming home-based clinical trial for the biopharmaceutical company Alto's depression-drug candidate, according to federal records. The idea behind the partnership is that Cerebral is a mental-health company treating patients with depression, the condition for which Alto is developing treatments. Cerebral Chief Medical Officer David Mou told TechCrunch in December that the startup provided patients for the trial "within an hour." How Alto is running the trialThe trial with Cerebral does not include a control group, according to the filing.
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