Medical benefits platform Collective Health announces layoffs

Collective healthhealth benefits management platform laid off 54 employees as it organizes its workforce to better meet customer needs.

companies CEO Ali Diab announced the layoffs on LinkedIn, saying employees are being fired due to “downsizing” and urging companies that may encounter these employees in the hiring process to give them “serious consideration.”

Collective Health acts as a third-party health benefits administrator, bringing a variety of company benefits together on one platform so employers can manage their offerings while helping employees navigate their health care.

“We can confirm that as part of our workforce restructuring, we made the difficult decision to say goodbye to a small portion of our staff on Monday. The purpose of this restructuring is to better align and balance our resources with our product and customers. needs, as well as current market conditions,” a spokesman for the company said. MobiHealthNews in an email.

“Collective Health prides itself on being a great place to work. It has to do with how we treat each other and take care of our employees. As we face the difficult task of supporting our affected employees, we feel responsible to provide the same care for their individual transitions that we bring to our work every day. For those companies that have open roles, we encourage you to look for great, talented people in the market right now.”

BIG TREND

In 2021, the San Francisco-based company scored $280 million in Series F funding, bringing the company’s valuation to $1.5 billion and joining many digital health companies this year and achieving unicorn status.

The company also announced its A premier partner program to help employers identify the most appropriate digital health platforms for their employees, calculate ROI, assess clinical outcomes, and make recommendations based on user data.

The program was launched with startups in the field of behavioral health. Ginger, Lyra Health and Modern Health; primary care providers 98point6 and Teladoc Health; chronic disease management company Livongo; family planning startups Carrot Fertility and Progyny; Cancer startup AccessHope; and musculoskeletal startup Hinge Health.

Two years earlier, the employee benefit platform was raised $205 million in Series E funding, up from $110 million in funding raised a year earlier.

Several other companies provide healthcare assistance, including Naya, Pebble and HealthJoy.