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☆ Exclusive: How Calibrate stumbled from hot weight-loss startup to $20 million sale under threat of bankruptcy
▼ + stars: | 2023-11-02 | by ( Rebecca Torrence | ) www.businessinsider.com time to read: +6 min

Facing the threat of bankruptcy, weight-loss startup Calibrate was forced to make a tough deal with private equity firm Madryn Asset Management, according to company documents reviewed by Insider. Under the terms of the deal, Madryn took a 70% stake in Calibrate in exchange for just $20 million, the documents show. Calibrate, Madryn, Kenyon, and the company's VC backers didn't immediately return messages seeking comment for this story. Some longtime patients have regained much of the weight they lost after Calibrate failed to get them medications, Insider reported on Thursday. Under the deal, Madryn exchanged $20 million of its loans for senior equity in Calibrate.

Persons: Madryn, Isabelle Kenyon, She's, Kenyon, didn't, Fortune, Michael Siluk, They're Organizations: Asset, Tiger Global, Founders Fund, Optum Ventures, Madryn, Tiger, Getty, Owners, LinkedIn Locations: Madryn

☆ Exclusive: Weight-loss startup Calibrate is selling itself to a private equity firm as patient complaints mount
▼ + stars: | 2023-10-20 | by ( Rebecca Torrence | ) www.businessinsider.com time to read: +1 min

Calibrate is selling itself to one of its investors, private equity firm Madryn Asset Management. The weight-loss startup is also planning to restructure, per two people with knowledge. The sale comes as Calibrate faces customer complaints and struggles to get some patients medications. Weight-loss startup Calibrate is selling itself to the private equity firm Madryn Asset Management, Insider has learned. The sale was announced in a Slack message to the startup's staff on Friday, according to two employees with direct knowledge.

Persons: couldn't Organizations: Asset Management

☆ Inside the struggles at Calibrate, a new kind of weight-loss startup that's facing a mountain of patient complaints and refunds
▼ + stars: | 2023-09-05 | by ( Rebecca Torrence | ) www.businessinsider.com time to read: +19 min

Weight-loss startup Calibrate has struggled to get patients access to buzzy drugs like Ozempic. Kenyon's startup Calibrate, which she launched in June 2020, is one of the healthcare companies feeding the frenzy. CalibrateThe company is now running up against several massive challenges: Weight-loss drugs are expensive and in short supply, and health insurers are increasingly reluctant to pay for them. Kenyon said about 20% of Calibrate members do not have coverage for weight-loss medications, and around half of those people request refunds from Calibrate. Want to tell us about your experience with Calibrate or weight-loss drugs?

Persons: lightbulb, Isabelle Kenyon, Kenyon, Jenny Craig, OptumRx, She's, she's, Saxenda, —, weren't, It's, they've, Holly, hadn't, hasn't, Claire Rosenzweig, Rosenzweig, it's, Andrew Kelly, Shelby Livingston, Rebecca Torrence Organizations: New, Tiger Global, Founders Fund, Optum Ventures, FedEx, Food and Drug Administration, Jefferies, Better Business Bureau, BBB, Better Business, Metropolitan New, Better, Apple, Businessolver, Optum, UnitedHealth, Employees, REUTERS, Madryn Asset Management, SM Ventures, Ventures Locations: America, New York, Danish, GLP, Florida, Metropolitan New York, slivingston@insider.com, rtorrence@insider.com

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