TTA’s Blooming Spring 4: UnitedHealth’s CEO change doesn’t stop market pummeling, Omada’s IPO, Theranos redux, Holmes loses appeal, Synchron BCI and Apple, exec security cost, raises, more!

May 16, 2025 | by

 

16 May 2025

One after another surprise this week. UnitedHealth Group changed out CEOs suddenly. The new one is a surprising ‘blast from the profitable past’ but that didn’t stop Mr. Market from taking the stock down down down. Another blast involves Elizabeth Holmes’ partner Billy Evans fronting a diagnostic testing-in-a-box startup. “Surprise, surprise!” No surprise that Holmes lost her appeal of an appeal–nor Omada Health filing for an IPO. Unfortunately, our investigator on all things Masimo met his own surprise walking on a sunny day–fortunately, Ted’s on the mend. More about BCIs with Apple integration, a chronic pain management startup, Parkinson’s data, two good raises, and what payers pay to keep their execs safe.

Short takes: Synchron BCI integrates with Apple devices, Shields Health partners with Duke on specialty pharmacy, raises for Cohere Health, Olio (More BCI action with Apple getting into it)

Theranos’ revenge? Holmes’ partner Billy Evans founds a startup for diagnostic testing, denies it is ‘Theranos 2.0’; Holmes loses Federal rehearing appeal. (Is Holmes advising long distance? Letters from a Texas Jail?)

News roundup: Omada Health files for IPO, UPMC-Redesign partner on chronic pain management, OK and PA AGs warn 23andMe users to delete data, Verily to build Parkinson’s dataset, what payers paid for exec security (Omada follows Hinge. But the last is surprising–between a lot and a little)

This just in: UnitedHealth Group CEO Andrew Witty steps down immediately, replaced by former CEO Stephen Hemsley (updated 15 May) (UHG may change out CEOs, but continues to be hammered by Mr. Market)

Best wishes to Strata-gee’s Ted Green on a fast recovery! (Ted, our ace Masimo investigator, was put rather suddenly in a bad place…use your eyes when you drive!)

From last week: This week’s drama was all about Masimo, developing literally as this Editor was writing. Their website outage was revealed to be from a cyberattack that took down nearly all their systems. Not good for a monitoring/tech company. But their good news was that they sold Sound United to Samsung–2/3rds off. The others deserving of more attention are Neuralink’s successful BCI implant in an ALS subject and UHG’s 1,000 app bet on AI. Not so dramatic: WeightWatchers’ prepackaged, quick bankruptcy, the NIH/CMS autism data project, and Amedisys divesting to salvage their UHG sale. 

Short takes: HHS forms NIH/CMS autism data project; Oscar Health beats Street w/Q1 $275M net; Centene’s $1.3B earnings; UHG has class action suit on earnings, 1K AI apps in production; Cedars-Sinai and Redesign Health partner on development; FDA, Lilly, Novo Nordisk win vs. compounders (Big step forward for autism research)

News roundup: WeightWatchers in 45-day prepackaged Ch. 11, Neuralink BCI successful in ALS subject, telehealth VR reduced TMD pain–study, AliveCor maxes up KardiaMobile 6L, TytoCare-Allina Health partnership, UHG-Amedisys divest some more (WW losing runway, a Neuralink win, Amedisys divesting to save their two-year-old UHG deal)

Breaking–Masimo Mystery SOLVED–cyberattack, website down for days, new websites up–and where’s the public explanations? Sound United sold. (Another cleanup on Aisle 10–the Sound United albatross flies off)

Holding this over: The weekend read: why SPACs came, went, and failed in digital health–the Halle Tecco analysis/memorial service; why OpenAI is going to be a bad, bad business (Grab the cuppa and lunch for a good read and podcast. Updated–Also Tecco’s blog post on why she quit being an angel investor.) 

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Short takes: Synchron BCI integrates with Apple devices, Shields Health partners with Duke on specialty pharmacy, raises for Cohere Health, Olio

May 15, 2025 | by | 1 Comment

Another brain-computer interface (BCI) makes a major advance. Synchron, a BCI company based in Brooklyn, NYC, announced that it will be the first BCI company to achieve native integration with Apple’s new BCI Human Interface Device (BCI HID) profile. The 13 May Apple announcement of a native integration means that Synchron’s BCI can control iPhone, iPad and Apple Vision Pro directly with their thoughts without physical movement or voice commands. Synchron’s BCI device, Stentrode, is placed in a blood vessel in the brain via a minimally invasive endovascular procedure, not directly in the brain, captures the neural signals, and connects to the IRT signaling device that has a two-way interface with the Apple devices. Controlled rollouts with trial participants using BCI HID-compatible features are expected to begin later this year. Synchron release, Mobihealthnews, MassDevice

The Synchron Stentrode device is still in clinical trials and has been in development since 2012. Synchron achieved the first BCI in 2019. In March, they and NVIDIA announced Chiral, a foundation model of human cognitions, and developing a cognitive AI model—artificial intelligence trained directly on human neural activity. From their announcement release, Chiral will be trained on a roadmap via NVIDIA’s Holoscan (motor inference), NVIDIA’s Omniverse platform and Cosmos world foundation models to simulate environments, and then through deidentified data. They have also partnered with Team Gleason, a foundation dedicated to improving the lives of people living with ALS. Earlier this month, Neuralink announced its third successful human implant in an ALS patient [TTA 8 May]. 

Shields Health Solutions partnering with Duke Health in North Carolina. The partnership between Duke Specialty Pharmacy and Shields Health Solutions aims to enhance personalized patient care by expanding services, reducing costs, and improving access to treatment options and medication management. Shields Health equips health systems with integrated specialty pharmacy solutions, enabling Duke to support patients with complex chronic conditions through regular follow-ups, side effect management, financial assistance, and medication delivery, with the goals of better medication adherence and patient outcomes. Shields partners with nearly 80 health systems, providing access to over 80% of limited distribution drugs (LDDs) and with most payers. Their clinical model is designed to reduce the total cost of care by 13%. Release

Two raises of note this week (are we seeing the return of lettered rounds?):

Cohere Health lands a $90 million Series C raise. The round was led by by Temasek, with continued support from Deerfield Management, Define Ventures, Flare Capital Partners, Longitude Capital, and Polaris Partners. Their total funding now exceeds $200 million since their start in 2019. Cohere Health automates prior authorization workflows, accelerating decisioning and review for physician practices. They are planning to expand their technology with AI to improve care management and other types of administrative burden.  Release, FierceHealthcare

Olio Health raised $11 million in a Series B. The round was led by by Fulcrum Equity Partners, with participation from Mutual Capital Partners (MCP). Their Series A round of $13 million in August 2022 was led by MCP for a total since 2017 of $26.5 million. Olio’s ‘oil’ is a care management platform for value-based care primary care providers, payers, and health systems for post-acute care. The additional funding will be used for product expansion and accelerate their go-to-market initiatives. Olio is headquartered in Indianapolis.  Release, Mobihealthnews