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In today's big story, the world reacts to Donald Trump's latest trade plans , which could be a massive negotiation tactic . Michael M. Santiago/Getty ImagesThe man who dubbed himself a master negotiator is upending the global trade market with his latest tactic. AdvertisementThe world is reacting to President-elect Donald Trump's new trade proposals targeting China, Mexico, and Canada. There's a lot to unpack, so let's break it down:So, Trump finally gave us an update on his tariff plans. He's telegraphed his plans for hammering Chinese imports, but a 25% tax on Canadian and Mexican goods was a shock.
Persons: Donald Trump's, Trump, Michael M, He's, Will, Justin Trudeau, Claudia Sheinbaum's, Jenny Chang, Rodriguez, Goldman, Scott Wren, Wells Fargo's, They've, Elon Musk's, Omead Afshar, Afshar, Prince Williams, Bill Clark, Astrida Valigorsky, Alyssa Powell, Kendrick Lamar, Drake, Dan DeFrancesco, Grace Lett, Ella Hopkins, Hallam Bullock, Amanda Yen, Milan Sehmbi Organizations: Business, Affordable, Canadian, Trump, US, Companies, Getty, JPMorgan, Deutsche Bank, BI, Tesla, North, Spotify, Universal Music, Wall Street Locations: China, Russia, Mexico, Canada, Canada's, East, New York, Chicago, London
Now, VCs say many digital health startups are cutting their valuations to live another day. As of mid-November, PitchBook data shows 327 digital health startups that grabbed funding in 2021 but haven't raised since. Not even the AI boom, which has brought back-to-back fundraises for hot healthcare startups like Abridge, can make up for the discrepancy. "There are more digital health companies that are selling assets, selling people, or whatever they can," said Greg Yap, a partner at Menlo Ventures. AdvertisementVCs told BI they're pushing the next generation of healthcare startups for better discipline in balancing growth with profits.
Persons: haven't, Greg Yap, Doba Parushev, CareFirst, Parushev, Jenny Chang, Rodriguez, Alyssa Jaffee, she's, that's, Ruth, Alison Greenberg, Healthworx's Parushev, Forward's, Rob Price, Axios, LetsGetChecked, Galym, Yap, cofounders Umar Afridi, Sid Viswanathan, VCs Organizations: Healthcare, Business, Menlo Ventures, Healthworx Ventures, Getty, Ruth Health, Carta, Optum Ventures, Lightspeed Ventures Partners, Omada, Walgreens, Walmart Locations: Forward's San Francisco
The weeks heading into year-end often mark a bullish time for stocks, and smaller companies especially might be poised for outperformance. With that in mind, Jeffrey Hirsch, editor-in-chief of the Stock Trader's Almanac, believes investors should buy small caps from the Tuesday before Thanksgiving this year and hold them until Jan. 3rd, 2025. The tendency for small caps to outperform large caps from mid-December through January, combined with the so-called Santa Claus rally right around Christmas, can bolster small-cap growth stocks, Hirsch said. That rally "rhymes with the post-2016 election move," according to John Hancock Investment Management co-chief investment strategist Emily Roland. He's really focused more on the food companies, eating healthier, vaccine companies and just making sure they're held to the same standards."
Persons: Jeffrey Hirsch, Jan, Hirsch, Santa Claus, Donald Trump's, Russell, What's, Emily Roland, Julie Biel, Kayne Anderson, Biel, Gregg Fisher, Matt Unger, Robert F, Kennedy Jr, Unger, they're Organizations: Stock, CNBC, Regional Banking, John Hancock Investment Management, Quent, Osterweis Opportunity, Trump, Department of Health, Human Services, RFK Locations: Santa
Sword Health cut a portion of physical therapists last month, the company confirmed to BI. The startup is working to increase the number of patients its physical therapists care for using AI. AdvertisementSword Health has made cuts to its clinical workforce as the $3 billion startup seeks to manage more patients with the help of AI, Business Insider has learned. The layoffs come as Sword seeks to enable its PTs to treat more patients using AI. AdvertisementIt's not the only digital health startup waiting at the IPO gates.
Persons: , Sword, would've, aren't, Virgilio Bento, It's, Bento, Morgan Stanley, Omada Organizations: BI, Service, Business Locations: Omada
While many tech VCs are optimistic about Trump's second term, some healthcare investors feel stuck. AdvertisementThe lower corporate taxes and deregulation a second Trump term could promise are already amplifying public market optimism. She could be removed as the FTC's head early in Trump's second term — and with relaxed M&A regulations, "anything is possible," said What If Ventures founder Stephen Hays. SOPA Images/Contributor/Getty ImagesMedicaid could also be targeted in Trump's second term. A boon for healthcare AI and Medicare AdvantageTrump's victory could have a positive impact on several big areas of healthcare investment.
Persons: , Donald Trump's, Trump, He's, he'll, Robert F, Kennedy Jr, Trump's, Michael Greeley, Rebecca Noble, Tesla, JP Morgan Chase, Maven, Omada, Sean Duffy, Lina Khan, Stephen Hays, James Leynse, VCs, Carli Sapir, Jordan Nof, Greeley, Shiv Rao, Kennedy Jr's, Chrissy Farr, Phelps, Phillips, Farr Organizations: Trump, Service, Food and Drug Administration, Centers for Disease Control, Biden, Flare Capital Partners, Getty, Healthcare, Health, Cigna, Humana . Bloomberg, Federal Trade Commission, Investors, Business, Amboy Street Ventures, Tusk Venture, Senate, Affordable, Coalition for Health, Mayo Clinic, Johns Hopkins, Microsoft, Alignment Healthcare, Scrub Locations: Trump's Florida, Tuesday's, Trump's, Boston, America
From AI healthcare solutions to groundbreaking mobility and cybersecurity tech, GITEX GLOBAL 2024 showcased innovations and industry shifts set to shape the future digital landscape. Hassan Alnaqbi, CEO of Khazna Data Centers, joins a panel discussion at GITEX GLOBAL 2024. Xpeng Aeroht's flying car prototype and Zapata's Airscooter on display at GITEX GLOBAL 2024. Confronting global challengesWith global cybercrime damage projected to hit $10.5 trillion annually by 2025, cybersecurity was a hot topic at GITEX GLOBAL 2024. Find out more about GITEX GLOBAL 2024 here.
Persons: GITEX, Hassan Alnaqbi, Denis Ledenkof, Robosculptor, , Shameer Khader, Salahaldeen AlMarzooqi, cybersecurity, Cybersecurity, Mohamed Al Kuwaiti, , ” Todd Conklin, Siyuan Liu, Peng Xiao Organizations: Dubai World Trade, Khazna Data, GITEX, Oracle Health, Precision Medicine, Sanofi, Mobility, Transport Authority, Metro, Department, RTA, UAE Government, UAE, US Department of, Treasury, IoT, Strategy, Nissan Hyper Force Locations: cybersecurity, China
Nvidia wants to bring "physical AI" to hospitals, with robots for X-rays, linen delivery, and more. AdvertisementNvidia is digging deeper into healthcare — and the tech giant has big ambitions to bring AI to every part of the hospital. "This physical AI thing is coming where your whole hospital is going to turn into an AI," Powell told BI. Physical AI is getting more sophisticated for real-time surgeries, too. But Nvidia sees robots being used far beyond the operating room — including to monitor a patient for falls in their hospital room, or bring them fresh linens, Powell said.
Persons: , Healthcare Kimberly Powell, Powell, III, Nvidia doesn't, Abridge Organizations: Nvidia, Service, Healthcare, University of Florida Health, Mayo Clinic, AP, Inc, Catalyst, Microsoft Locations: Las Vegas, Florida, Abridge, HLTH
Maven's chief financial officer has left the women's health unicorn one year after taking the role. AdvertisementMaven Clinic is swapping out its chief financial officers on the heels of a fresh funding round as the women's health startup inches closer to an IPO. Related storiesAs the highest-valued women's health startup, Maven is expected to be a candidate for the next wave of digital health IPOs. The startup's hopeful future exit would be a boon for the women's health market, which remains a small fraction of all healthcare funding. Wrapbook raised a $20 million funding round in September at a valuation of $750 million.
Persons: Maven, , Kristina Campbell, isn't, Campbell didn't, haven't, Campbell, Wrapbook Organizations: Service, StepStone Group, Business, Sequoia Capital, Catalyst, Lux Capital, Oak HC, SEC
The healthcare market looks nearly ready for the next wave of IPOs. But the next wave of public healthcare companies looks to be on the horizon. At least two healthcare companies are considering public-market debuts in the not-so-distant future. SVB SecuritiesI spoke with him about what the next wave of healthcare IPOs could bring — and which healthcare startups are in the best position to test the public markets. What models do you expect the healthcare market to favor in this next round of IPOs?
Persons: Jon Swope, , It's, Health confidentially, haven't, there's, Waystar, healthtech Organizations: Barclays, Service, Health, healthtech, SVB Securities, Accolade, Healthcare, Walmart, Big Tech Locations: IPOs, healthtech, Waystar
Kate Ryder, CEO of Maven, speaking at the CNBC Changemakers Summit in New York on April 18th, 2024. Maven Clinic, a health-care startup for women and families, announced Tuesday that it has closed a $125 million funding round at a $1.7 billion valuation. Maven CEO Kate Ryder told CNBC she founded the company in 2014 after watching her friends struggle to find the support they needed while building their families. "Digital health is just at the very beginning," Ryder told CNBC. The company was the first U.S. startup dedicated to women's and family health to ever reach "unicorn" status, or a valuation of more than $1 billion.
Persons: Kate Ryder, Maven, Ryder, Oprah Winfrey, Mindy Kaling, Reese Witherspoon Organizations: Maven, CNBC, Maven Clinic, Microsoft, Oak HC Locations: New York
For young people undergoing long-term treatment or struggling with mental health issues, Norwegian company No Isolation developed the AV1 robot, which can take a child’s place in class, serving as their eyes, ears, and voice, and helping them stay connected with their classmates. “They make the child important”The UK’s Chartwell Cancer Trust has a supply of 25 AV1 robots it provides to children with serious illness. Founding trustee Michael Douglas told CNN that the robots enable children to stay engaged with their education even while in intensive care. Last August, No Isolation rolled out AV1 Academy, a library of training materials and resources aimed at improving the usability of the robot. “Removing that pressure to be on camera, we’ve seen, increases the likelihood of the robot being used for students with emotionally based school avoidance,” Salisbury said.
Persons: it’s, , Florence Salisbury, Salisbury, Markus Haner, ” Salisbury, AV1, Michael Douglas, , we’ve Organizations: CNN, Cancer, Moulsham High, Digital Health, AV1 Academy Locations: Germany, Warwickshire, England, Japan, Salisbury
Diabetes startup Omada Health has confidentially filed its S-1 for an IPO, BI has learned. Fellow healthcare startup Hinge Health has hired banks as it prepares to confidentially file its S-1. AdvertisementRumors about diabetes startup Omada Health's public market debut have been swirling for years. Omada Health confidentially filed its S-1 this summer to go public, according to one person with knowledge of the transaction. After 20 healthcare startups went public in 2021, only one healthcare company went public the following year — Akili Interactive, which sold for $34 million this July.
Persons: , Health confidentially, It's, Sean Duffy, Morgan Stanley, Cameron Lester, Ben Narasin, Duffy, Omada Organizations: BI, Service, Health, Lyra, Tempus, Jefferies, Venture, Amazon
The company is seeking to sell 60 million shares at a price range of $20 to $23 per share. StandardAero previously filed to offer 46.5 million shares at the same $20 to $23 per share range. StandardAero will be a large IPO, likely raising about $1.3 billion at the midpoint. The IPO raise has been sub-par for three years running. IPO watchers note childcare provider KinderCare and digital health marketplace company Solera both could raise $500 million or more.
Persons: Safran, StandardAero, Carlyle, IPOs, StubHub Organizations: Dow Jones, Cerebras, StandardAero, New York Stock Exchange, GE Aerospace, Pratt & Whitney, Royce, Honeywell, Amer Sports, Ingram, Dunkin, Brands, Inspire Brands Locations: U.S
Digital health company Noom on Thursday announced it will offer a compounded GLP-1 drug as part of a new weight loss product that starts at $149. Noom has offered weight loss programs for years, and consumers can already try to access those branded medications through its platform. Compounded GLP-1 medications are typically much cheaper than their branded counterparts. Most insurance plans cover GLP-1s when they are used to treat diabetes, but coverage of the weight loss drugs is less widespread. Consumers can get started with the Noom GLP-1 RX program by filling out an intake form on the website.
Persons: Wegovy, Noom, Geoff Cook, Cook, Dr, Adonis Saremi, They'll Organizations: CNBC, U.S . Food, Drug Administration, FDA Locations: U.S, United States
Historically, women's healthcare has been impaired by challenges like bias and a lack of specialized providers. For years, healthcare systems weren't designed for women, and there are still gaps in research and treatments for women's health issues. AdvertisementWith this reality in mind, Joanna Strober cofounded Midi Health, a website designed to help people experiencing menopause and perimenopause access specialists. Interventions can range from lifestyle coaching to prescription medication, and Midi providers can refer patients to in-person treatments when needed. Midi Health is on its way toward doing that; the company closed a $60 million Series B round in April.
Persons: Ashlee Wisdom, Wisdom, Smisha Agarwal, Agarwal, they're, Joanna Strober, Strober Organizations: New York University, Health, Center for Global Digital Health Innovation, Johns Hopkins University, Women's Health, US National Institutes of Health, Midi Health, Midi, Silicon Valley Bank Locations: Black
The $220 million round in May, which also included Aglaé, valued H at $370 million, according to the company. While the amounts of Aglaé's investments aren't disclosed, the funding rounds for the AI firms totaled more than $300 million, according to Fintrx. Aglaé also invested in a $25 million seed round for Lamini, a Palo Alto, California-based startup building enterprise AI applications. Aglaé joined Susquehanna to invest in the $27 million seed round for Toronto-based Borderless AI, a human resource management platform. Arnault and his family are, however, big art collectors, and Aglaé was an investor in a $9.5 million funding round for LaCollection, a digital art platform.
Persons: Google's, Wendy, Eric Schmidt, Aglaé, Arnault, Robert Frank Organizations: Accel Partners, Google, CNBC, Fintrx, Aglaé Ventures, Susquehanna, Toronto, Music Media, Back, Netflix, Spotify Locations: Palo Alto , California, New York, Photoroom, France, Paris, Sonarverse, Irvine , California, San Francisco, French, LVMH, Airbnb
The direct-to-consumer health-care startup Ro launched a new free tool Tuesday to help patients determine whether their insurance covers a buzzy class of weight loss and diabetes drugs called GLP-1s. Ro said nearly half of the company's patients have some form of insurance coverage for a GLP-1, according to its customer data. Ro said it hopes its new tool can help patients understand their coverage options so they can decide how to pursue weight loss. The digital health company may benefit too, as it could drive some patients to join the company's GLP-1 program. It includes 24/7 messaging, one-on-one coaching with nurses and help with navigating insurance coverage.
Persons: Ro, Zachariah Reitano Organizations: Novo Nordisk, CNBC Locations: U.S
Read previewRevenue cycle management company R1 RCM just announced its acquisition by two private equity firms for a whopping $8.9 billion — signaling a long-awaited resurgence of big healthcare deals. Private equity's return to the sceneThe debt market is finally correcting for the types of deals healthcare companies have been waiting for. Revenue cycle management has long been a hot area for private equity firms. AdvertisementSpringer said she thinks private equity firms are "very unlikely to buy a care delivery company in this environment." Sen. Markey introduced the Health Over Wealth Act in July that would limit private equity investment in healthcare providers.
Persons: , Augmedix, Altaris, hasn't, dealmakers, David Marks, They're, Thad Davis, haven't, Davis, Tanay Tandon, Commure, Athelas, it's, Rebecca Springer, we'll, Shiv Rao, Abridge Springer, she'd, Springer, Steward, Sen, Markey, Brian Snyder, Knight's Marks, I've, Marks Organizations: Service, Business, Holland &, Leerink Partners, Epic, Mayo Clinic, Reuters, Holland, FTC
Doximity — Shares jumped more than 38% after the digital health company reported first-quarter earnings that surpassed expectations. That is more than the 22 cents per share that analysts polled by FactSet were expecting. Expedia reported adjusted earnings of $3.51 per share, versus the $3.06 per share LSEG consensus estimate. Akamai Technologies — The stock rose nearly 11% after the cloud company reported better-than-expected second-quarter results. According to LSEG, analysts expected $1.53 per share on $977 million in revenue.
Persons: Sweetgreen, Doximity, FactSet, Unity, LSEG, Versace, Michael Kors, Expedia, Akamai, Insulet, Alex Harring, Samantha Subin, Yun Li, Jesse Pound, Pia Singh, Michelle Fox Organizations: Unity, Capri, Capri Holdings, Revenue, Technologies, Paramount Global, Bank of America
Vitable Health aims to make healthcare more affordable for hourly employees at small businesses. Joseph Kitonga, the founder and CEO of Vitable Health, saw this problem firsthand through his parents' small business, where only 10% of employees opted for health insurance. The average health insurance premium of $500 per individual and over $1,000 per family is simply too costly for blue-collar hourly employees, said Kitonga. This realization led to the creation of Vitable Health, an affordable digital health plan for small businesses. This story is available exclusively to Business Insider subscribers.
Persons: , Joseph Kitonga Organizations: Cherryrock Capital, Service, Vitable, Health, Business
Read previewHuma, an AI digital healthcare company, has raised $80 million in Series D funding. "AI is core to how we build scalable digital health solutions," Huma CEO Dan Vahdat, told Business Insider. "It is a challenging environment for digital health companies in general, particularly with the public markets being down," Vahdat added. The company's $80 million Series D funding round was raised by new and existing investors such as AstraZeneca, Hat Technology Fund 4 by HAT SGR, HV Fund by Hitachi Ventures, and Leaps by Bayer. Check out Huma's 11-slide Series D pitch deck below:
Persons: , Dan Vahdat, Huma, Sifted, Vahdat Organizations: Service, Business, Bayer, AstraZeneca, Hat Technology, HAT, Hitachi Ventures Locations: Swedish
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewTwo executives of a California-based telehealth company have been arrested and accused of running an illegal Adderall drug scheme to the tune of $100 million. Related storiesThe DOJ accuses the defendants of luring drug seekers to the subscription-based healthcare service through millions of dollars of deceptive social media advertisements. In addition to the drug conspiracy charges, He and Brody were also charged with conspiracy to obstruct justice. AdvertisementThis is the first time that anyone has been charged for operating an illegal drug distribution scheme through a telemedicine company, according to the DOJ.
Persons: , David Brody, overdosed, Alejandro, Mayorkas, Brody didn't, Brody Organizations: Service, Department of Justice, Inc, Business, DOJ, of Homeland, Prosecutors Locations: California
Waystar shares slid about 3% in their Nasdaq debut on Friday, after the health-care payment software vendor priced its IPO in the middle of the expected range. The stock opened at $21 per share, below the IPO price of $21.50 late Thursday. The IPO market has been largely dormant since late 2021 when the extended bull market turned and investors began to worry about a weakening economy. But the broader venture-backed tech market may be beginning to thaw. Health tech company Tempus AI has also issued a preliminary prospectus this year.
Persons: Waystar, Matt Hawkins, CNBC's, JPMorgan Chase, Goldman Sachs Organizations: Nasdaq, Rock Health, Health, ZirMed, JPMorgan, Barclays
watch nowArtificial intelligence for cancer screening has taken off. So, it is quite a challenge," said Brittany Berry-Pusey, CEO of AI screening startup Avenda Health. Nearly 600 of them have been radiology AI applications approved in the last five years. Thorwarth wrote that AI reimbursement is complex and establishing billing codes for every approved AI tool is "problematic." RadNet's executives compare the process with AI screening to the radiology industry's experience with digital breast Tomosynthesis, known as 3D mammography.
Persons: Brittany Berry, Pusey, Porte, Julien De Rosa, Berry, William Thorwarth, Thorwarth, mammography, Rodrigo Cerda, Cerda, RadNet, Greg Sorensen, RadNet's, Sorensen Organizations: FDA, Food and Drug Administration, Porte de, Afp, Getty, American Medical Association, American College of Radiology, Centers, Medicare, Medicaid Services, CNBC, Artificial Intelligence, Blue Cross Locations: Paris, New Jersey
Telehealth company Ro on Wednesday launched a new tracker to help patients find a popular class of weight loss and diabetes drugs called GLP-1s amid shortages of those treatments in the U.S. The supply tracker could be a valuable tool for many Americans scrambling to get their hands on GLP-1s, such as Novo Nordisk 's weight loss injection Wegovy and diabetes drug Ozempic. The tracker aims to make GLP-1 supply information more transparent and accessible for everyone, regardless of whether they are enrolled in any of Ro's programs. The tracker is an interactive tool that gives people real-time supply information by drug, dose size and pharmacy location. He added that opening up the tracker to everyone also makes it more likely for both Ro patients and people not enrolled in the company's programs to access GLP-1s.
Persons: Ro, Eli Lilly, Zachariah Reitano, Reitano Organizations: Wednesday, U.S, Novo Nordisk, U.S . Food, Drug Administration, CNBC Locations: U.S
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