Daniel from Improve Press
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 staff worldwide, 48 of whom had been within the U.S.
“He stays dedicated to offering help and recommendation to the corporate going ahead,” Biofourmis informed MobiHealthNews in an electronic 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 expertise officer; Daniel Tune, normal counsel; and Jaydev Thakkar, chief working officer. This Workplace of the CEO will direct the corporate’s common operations and Ben Wanamaker can have oversight of the Workplace,” Biofourmis informed MobiHealthNews.
Wanamaker most not too long ago served as vice chairman of enterprise technique at Humana and beforehand held the positions of vice chairman and normal supervisor of analytics product at Aetna and director of technique and operations of well being providers at Walmart.
“Biofourmis is a pacesetter within the technology-enabled healthcare supply market, and we’re dedicated to our mission to rework healthcare by harnessing the ability of expertise and knowledge,” the corporate mentioned.
THE LARGER TREND
Biofourmis, which provides residence care instruments to assist remotely monitor acute and post-acute sufferers and a digital specialty care platform referred to as Biofourmis Care targeted on managing sufferers with continual situations, confirmed to MobiHealthNews that it laid off staff in operational and administrative roles final month to concentrate on “accelerating progress within the U.S. market.”
The layoffs got here roughly a yr after the corporate scored $300 million in Collection 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 Collection C funding.
Earlier this yr, the corporate introduced a four-year collaboration with Georgia-based well being system Augusta College Well being and a multi-year settlement with Florida-based Orlando Well being.
Different firms within the distant affected person monitoring house embody Greatest Purchase’s Present Well being, well being tech firm Withings Well being Options and digital care platform Cadence.
