Investors and former employees in patient navigation business Memora Health were stunned when the startup was sold to AI company Commure in what appears to be a fire sale, after being initially led to believe Memora was a roaring success, Axios has learned after reviewing internal documents and speaking with eight people.
Why it matters: Axios' monthslong examination of what led to the $30 million sale found that Memora's change in fortune followed repeated sunny projections and a shared valuation of roughly $430 million from then-CEO Manav Sevak.
