Business
AeroDPC will operate as a subsidiary of Hint Health immediately following the deal. In 2023, the company plans to release a new product combining AeroDPC and HintOS' capabilities.
The company will expand its team by 300% by 2023 and expand the rollout of its services in the U.S. market.
The pre-seed will be used to expand the startup's clinical operations and research as well as improve its proprietary clinical protocols.
The company also announced a partnership with managed care organization CareSource to study the benefits of using virtual reality with patients receiving home and community-based services.
The company received the funds as part of growth equity financing.
HealthJoy, Hazel Health, Navina, Galen Robotics, Midi Health and Lumata Health also announced funding rounds.
The acquisition will allow Color Health to provide behavioral and mental health treatment at scale.
The virtual care giant reported revenue of $611.4 million, a 17% year-over-year increase, and a net loss of $73.5 million in the third quarter.
HSS announced it raised $21 million in Series A funds to launch the new company.
A spokesperson said the company "adjusted staffing levels and other direct expenses caused by current challenges in the economy and market conditions."