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Not quite 18 months after being named CEO of Truepill, cofounder Sid Viswanathan is gone. The company, worth $1.6 billion at its last equity funding round, faces an uncertain future with a cash squeeze and DEA investigation.
Almost 65% of existing employees are affected by different departments. Truepill has implemented another layoff for its employees, making it fourth this year.
Also: Dr. Jay Bhatt becomes executive director of Deloitte Center for Health Solutions, and Owkin names two new executives.
Viswanathan co-founded the company in 2016 and previously served as President Appointment ushers in new growth phase for Truepill following $142M...
The new funding represents a “hyper growth moment” for the company, which is in position to bring in some $300 million in revenue this year.