Healthy.io lays off another 30% of team in second major restructuring
Healthy.io lays off another 30% of team in second major restructuring
The Israeli healthtech firm is cutting 40 jobs after parting ways with 70 employees last year.
Healthtech company Healthy.io has laid off 40 employees across the UK, the U.S., and Israel, out of its total 130 employees, Calcalist has learned. The number of layoffs in each country is roughly equal. This move aims to bring the company to profitability and marks the second significant round of layoffs for the company, following a reduction of approximately 70 employees in 2023.
Healthy.io has developed a home urine test kit that utilizes smartphone image processing, eliminating the need for lab visits. The company's technology detects various infections, chronic diseases, and pregnancy complications. The smartphone camera scans a sticker provided by the company, and a dedicated app based on machine vision analyzes the scan results to deliver immediate feedback. The technology has been FDA-approved since 2018.
Founded in 2013 by Jonathan Adiri, Healthy.io has raised $146 million from investors, including Corner Ventures, Joy Capital Ventures, Ansonia Holdings, Aleph, and Samsung Next. It raised $50 million in its latest funding round last May, a Series D that coincided with the layoff of 70 employees.
The company stated: "Heathy.io has developed the first FDA-cleared smartphone-powered home kidney testing program alongside innovative digital wound management service. These solutions remove barriers to care, and have already enabled over one million patients worldwide to receive the testing they need.
"The company is focused on expanding its commercial presence in the US and Europe. After a decade of developing these pioneering solutions, the company has made strategic adjustments to prioritize reaching profitability and to optimize growth. This realignment impacted approximately 40 employees and is designed to best support Healthy.io's mission of expanding access to clinical-grade home solutions and serving patients worldwide. We deeply value each one of our talented team members, including those we had to part ways with."
