Overheard at HLTH: Market reset haunts digital health

Shimmering disco balls and a fluffy unicorn mascot adorn the halls of HLTH this year — but as attendees talked to Axios about harsh market realities, day one of the Las Vegas conference felt more as if someone had turned on the lights at the club.

Why it matters: After years of enthusiasm marked by soaring valuations, bloated late-stage rounds and unchecked growth, the digital health world is coming back to Earth.