What You Ought to Know:
– Redesign Well being, an organization that builds different healthcare startups, laid off 67 workers, or about 20% of its workforce, Quick Firm stories. The cuts come roughly a month after Redesign raised $65 million in Collection C funding.
– A spokesperson for Redesign confirmed the layoffs, calling the cuts a “restructuring transfer.” “This transfer by Redesign was not financially pushed—or was one thing that was associated, linked to, or a requirement of the latest spherical elevate,” the spokesperson tells Quick Firm, including that the engineering, product, advertising and marketing, and recruiting departments could be affected.
Associated: Redesign Well being Raises $65M to Construct Subsequent-Gen Well being Startups
– CEO Brett Shaheen stated in an electronic mail to workers that as a part of the corporate’s “ongoing evolution, and given the necessity to prioritize in a difficult market,” Redesign would scale back the dimensions of some groups, whereas additionally persevering with to rent for others. “By way of this, we imagine we are able to create better influence for our founders and companions,” Shaheen wrote.
– Based in 2018 by Shaheen, Redesign researches, assembles, manufacturers, and launches healthcare startups with the assistance of its staff of entrepreneurs, healthcare business operators, enterprise analysts, and buyers. Up to now, the corporate has launched greater than 40 startups since its inception, together with beauty remedy middle Ever/Physique and weight reduction platform Calibrate. Redesign advised Quick Firm final month that the most recent funding, which sources say introduced its valuation to $1.7 billion, would profit its personal operations and platforms. The corporate had deliberate to create greater than 25 new corporations by the tip of 2022.