Investing
Like others in the space, the 43-year-old owner of the NordicTrack, Freemotion, ProForm and iFit brands has seen revenues rise amidst social distancing.
Investment proceeds will primarily fund FDA registration studies and opening of US headquarters.
Rock Health reports $4 billion in funding for U.S. digital health startups this quarter, much of which was driven by a flurry of telehealth investments and late-stage rounds for R&D and fitness tech companies.
The funding was invested by fellow health company Reckitt Benckiser.
With more than $4.6B in fundings, Q3 2020 was an unprecedented showing from digital health investors
MobiHealthNews covered a record-breaking 109 funding deals during the past three months – a clear step up from Q3 2019 and the swelling numbers of H1 2020.
The newly announced deal is expected to close in Q4 2020, and values the direct-to-consumer telehealth company's combined entity at $1.6 billion.
Also European virtual care company HomeDoctor scores $4.3M and sexual health company Emjoy closes seed funding round.
The funds will support global expansion to meet growing clinical and biopharma demand for data-driven medicine.
2020 is shaping up to be a record-breaking year for digital health startups.