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 employees worldwide, 48 of whom had been within the U.S.
“He stays dedicated to offering help and recommendation to the corporate going ahead,” Biofourmis advised 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 stated 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 know-how 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 may have oversight of the Workplace,” Biofourmis advised MobiHealthNews.
Wanamaker most not too long ago served as vp of enterprise technique at Humana and beforehand held the positions of vp and normal supervisor of analytics product at Aetna and director of technique and operations of well being providers at Walmart.
“Biofourmis is a frontrunner within the technology-enabled healthcare supply market, and we’re dedicated to our mission to remodel healthcare by harnessing the ability of know-how and knowledge,” the corporate stated.
THE LARGER TREND
Biofourmis, which gives house care instruments to assist remotely monitor acute and post-acute sufferers and a digital specialty care platform known as Biofourmis Care targeted on managing sufferers with continual circumstances, confirmed to MobiHealthNews that it laid off employees in operational and administrative roles final month to concentrate on “accelerating development within the U.S. market.”
The layoffs got here roughly a yr after the corporate scored $300 million in Series 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 Series C funding.
Earlier this yr, the corporate announced a four-year collaboration with Georgia-based well being system Augusta University Health and a multi-year agreement with Florida-based Orlando Health.
Different firms within the distant affected person monitoring area embrace Best Buy’s Current Health, well being tech firm Withings Health Solutions and digital care platform Cadence.
