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Antidote Well being confirmed it has laid off staffers this week, about seven months after the telehealth startup introduced its $22 million Collection A spherical.
In accordance with reporting by Calcalist, the corporate has let go of a couple of third of its workforce, with most cuts coming from its analysis and improvement workforce. Antidote presents digital main care, psychological healthcare and hypertension administration in addition to on-line prescriptions and refills.
“Antidote introduced it has adjusted staffing ranges and different direct bills attributable to present challenges within the economic system and market circumstances,” an Antidote spokesperson wrote in an electronic mail to MobiHealthNews. “These adjustments will assist make sure that the corporate can obtain its long-term goal of offering inexpensive, high quality care to hundreds of thousands of Individuals.”
THE LARGER TREND
Antidote launched in January 2021, saying a $12 million seed elevate later that yr. At the moment, the startup stated it was headquartered in New York Metropolis with an R&D workforce in Tel Aviv, Israel.
When Antidote introduced its Collection A in March, the corporate deliberate to make use of the funding alongside its seed to develop its companies within the U.S. and assist analysis and improvement for AI screening and medical choice assist capabilities. Milwaukee Bucks participant Giannis Antetokounmpo has additionally invested within the startup this yr.
Telehealth use has declined from its peak through the top of the COVID-19 pandemic, although it makes up a bigger portion of care than it did within the pre-pandemic period. Nonetheless, there are a selection of digital care startups and extra established telehealth corporations competing out there.
There have additionally been a spate of layoffs affecting digital well being and well being tech corporations to date this yr.
In accordance with reporting by the Wall Avenue Journal, digital psychological well being firm Cerebral is reducing about 20% of its workers because it restructures its enterprise. Digital weight reduction firm Noom additionally just lately confirmed one other spherical of layoffs.
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