Carbon Health announces $100M funding days after layoffs are revealed

carbon health announced that the hybrid healthcare provider received $100 million in Series D investments from CVS Health Ventures, days after a second round of layoffs was announced last year.

On Friday, Carbon Health CEO Erin Bali said: on twitter the company has laid off more than 200 employees as it shifts focus to its core primary care and acute care services while spinning up its public health, remote patient monitoring, hardware and chronic disease programs.

Series D funds will help Carbon Health scale its operations. Model Connective Carewhich uses software to connect patients and healthcare providers and enables digital monitoring and treatment management.

Patients can access virtual or in-person emergency and primary care, virtual mental health and diabetes care, and in-person COVID-19 testing and/or work-related medical care for workplace injuries.

In addition to large investments, FAC Health will pilot implementation of Carbon Health offerings in select CVS Health stores for consumer use.

BIG TREND

Latest wave of layoffs comes about seven months after the company said they lay off 250 employees, about 8% of the global workforcedue to the need to close some businesses related to COVID-19.

Carbon Health raised a huge $350 million in 2021then acquired a remote patient monitoring company health alertchain of Emergency Clinics in New Jerseytwo polyclinics networks in Arizona and California and group clinics in Southern California. The company also acquired an integrated diabetes management platform. sustainable health.

In September, the hybrid service provider announced a partnership with Blue Cross Blue Shield of Massachusettsin which the insurance company will offer Connective Care Carbon to its members. The new primary health care model was launched earlier this month.

In March, a direct-to-consumer virtual health company Hims and her announced a deal with Carbon Health to provide inpatient care to its California customers.

According to AxiosCha said at an event last month that the company is in talks to license its EHR software to other practices.