Verily's new CEO: A Starbucks and BestBuy veteran

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Stephen Gillett, the newly-minted CEO of the Alphabet health tech spinout Verily, is not a doctor or a Ph.D. scientist. His breakthrough executive job was at Starbucks. But he's now in charge of one of the most ambitious health tech efforts to date.

Verily has pulled in more than a billion dollars in funding, and an all-star roster of scientific expertise. But it's struggled to define its mission, recently laid off staff, and is staring down $540 million in losses last year. Verily recently declared a sharper focus: closing "the gap between research and care" and enabling precision medicine. But succeeding in that sphere will require Verily to turn the company's clearest ideas into products that prove useful in clinical trials and health care settings. Can Gillett pull it off? Read the full story from Casey Ross here.

Medical devices

The CPAP crisis has paved the way for Philips' rivals

The Philips respiratory machine recall has left patients, doctors, and suppliers in the lurch. But it's also given the company's rival CPAP makers and companies developing alternative sleep therapies a new foothold in the market.

It will be difficult for Philips to regain the share of patients it held before the problems started piling up. The company was once neck-and-neck with ResMed in the sleep tech market, together accounting for over 30% of the global market for sleep apnea devices. But since Philips had to recall its CPAP and BiPAP machines in June 2021, amid widespread reports of problems due to degrading foam, ResMed has seen a windfall. The recall has also renewed consumer interest in other options, like dental appliances from ProSomnus or implantable nerve stimulators from Inspire Sleep Therapy. I've got more on the companies who stand to benefit from the recall.

Health tech

5 startups targeting chronic kidney disease to watch

There's been significant funding interest in health tech startups trying to treat or stave off the worst symptoms of chronic kidney disease, a costly and often deadly condition that affects 37 million people in the U.S. alone. Startups are attacking the disease from all angles, from building online portals that store patient data analytics to developing new ways to find patients who are most at risk. The companies — including Monogram Health, Strive Health, and Healthmap Solutions — have raised hundreds of millions of dollars on that promise. Read more in Ambar Castillo's analysis.

Mental health

How humans help mental health apps work

The data is still spotty on how well digital mental health apps work. A review of existing research aims to help answer that question, specifically looking at whether digital mental health interventions with human interaction work better than those without. When patients lose interest and stop engaging with apps, a common solution is to incorporate more of a personal touch by sending supportive texts and calls. The researchers took stock of a wide range of research, by examining the evidence from 31 meta-reviews that included results from more than 500 studies.

The results were somewhat unclear. Half of the analyses showed that apps supported by people were more effective than those that are not, but another 9% suggested the opposite. The findings did hint that human-supported apps are helpful for people with heightened mental health symptoms. The authors encouraged others to analyze the specific ways coaches on mental health apps can be more useful to patients.

pharma

Medly calls it quits

Medly Health, a once-promising pharmacy startup offering free prescription delivery, is shutting down. Insider obtained an email informing staff this week that its 22 pharmacies will officially close this week, following the company filing for bankruptcy in December. Medly saw a boost during the pandemic, as consumers and investors became more interested in prescription delivery. But like so many other health tech startups, cash became harder for Medly to find.

business

Industry ups and downs

Universal Meditech Inc has recalled Skippack Medical Lab COVID-19 antigen tests because the tests were never authorized, approved, or cleared by the Food and Drug Administration.
Joi, a company focused on women's wellness, announced the nationwide launch of its hormone therapy and peptide treatment today. It is also introducing a new telehealth platform.
The Centers for Disease Control and Prevention has extended its partnership with Biobot Analytics to help more communities analyze their wastewater for COVID-19 and mpox. The partnership will last through July 2023.
Telehealth company Wheel cut 28% of its workforce, impacting 56 employees. The company also had a round of layoffs last August.
Digital obsessive-compulsive disorder health platform nOCD raised $34 million in a Series B funding round.

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What we're reading

Frequent blood pressure monitoring is needed throughout pregnancy, The New York Times
Tech valuations 2022 report, CB Insights
CVS' Oak Street Health acquisition continues the industry's provider obsession, STAT
Can tech help you reset your internal clock? Here's what to consider., The Washington Post
Abbott device approval sets up battle with Medtronic, Nevro for diabetic peripheral neuropathy treatment, MedTech Dive