Hello and happy almost Friday, Health Tech enthusiasts!
📉 Situational awareness: Teladoc is getting hammered. After recording a $6.6 billion impairment charge on Livongo, the former telehealth leader saw its stock take a 48% nosedive this morning.
Driving the news: Competition from surging behavioral health rivals — several of which offer controlled substance prescriptions in addition to therapy — and lower returns on DTC ad dollars, among other things, caused this pain, analysts tell Erin.
1 big thing: Fertility startups sew $7M seed as baby funding booms