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In a post on LinkedIn, Color CEO Othman Laraki said the company would focus on its core lines of business, including testing and telehealth infrastructure for government programs, and its prevention tools for employers and healthcare purchasers.
The funds will be used to open new clinics in the U.S.
Drug-discovery platform TandemAI, sleep-care platform BetterNight, health-monitoring system Xandar Kardian and AR/VR platform Healium also announced funding rounds.
The digital health company reported $184.1 million in revenue for Q4, a 14% decline from the same period in 2021.
The company reported $526.9 million in revenue last year compared with $271.9 million in 2021.
With focus on improving the output of care and quality, the nation steers toward value-based healthcare, says Dr. Ahmed Balkhair, advisor for digital transformation at the Saudi Ministry of Health.
Lucira's diagnostic is the first over-the-counter at-home combination test for COVID-19 and flu authorized by the FDA.
The latest funding builds off a Series B announced in April.
The loss included $13.4 billion in noncash goodwill impairment charges related to the virtual care company's Livongo acquisition.
The teletherapy company reported increased revenue in 2022 thanks to business-to-business growth, but it also posted an $80 million net loss.