It’s Tuesday, Health Tech readers.
Situational awareness: Embattled digital pharmacy Cerebral is laying off about 20% of its workforce, according to the WSJ.
Note on programming: Health Tech Deals won’t be released tomorrow while we host our BFD Summit in New York, but we can’t wait to be back in your inboxes on Thursday.
👀 1 big thing: ex-US startups get late-stage funding rounds
Industry-wide bucking investment slowdown, several digital health companies launched Series E+ rounds in the third quarter, including We Doctor and Kyruus, according to a recent report by CB Insights.
Why is this important: Although the market correction generally drives investors away from larger and later rounds, some companies are still scoring big – and most of them are outside the United States, according to the data. Erine writes.
Details: Among the biggest late-stage breeders are the company known for launching China’s first internet-based hospital, a Japanese disease management company and an Israeli maker of surgical robots.
- China-based We Doctor raised $150 million in July in a Series G funding round.
- Japanese CureApp raised $52 million in Series G funding in August.
- Israel’s Monteris Medical raised $35 million in September in a Series E.
The plot: Only two companies on the list – Kyruus and uLab Systems – are headquartered in the United States. Both offer software to streamline patient care.
- Boston-based Kyruus and Memphis, Tenn.-based uLab each raised $35 million in their respective September Series E.
- Kyruus’ cycle valued the administrative data management platform company at $449 million, while PitchBook estimates uLab was valued at around $230 million after its last raise.