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British Growth Fund’s exit marks one of the largest for a UK medtech company and the most profitable return in the firm’s history.
The company plans to expand partnerships with health plans and employers to provide more individuals with digital twin technology designed to improve metabolic health.
The company will use the funds to expand EHR and PBM integrations and partner with digital health and other companies to expand medication access.
The company will use the funds to expand its technology offerings and nationwide partnerships.
The company will use the funds to open a new headquarters in the Bay Area, scale its reach and platform, and expand its workforce.
The company will use the newly garnered funds to scale its Medical-Grade AI offering.
The company also disclosed that it reached an agreement with most holders of its Series A and Series B warrants to convert those warrants into common stock.
The company began trading on the NYSE in May and saw an increase in its stock price upon the news of its second-quarter earnings.
The company said it plans to expand U.S. access to its services while growing its pipeline to include additional cardiac conditions and new distribution channels.
The company, which uses AI to help companies manage value-based care contracts, will use the funds to grow its team and scale its platform.