Pear Therapeutics exploring sale, other ‘strategic alternatives’ (MobiHealth News):
Prescription digital therapeutics company Pear Therapeutics is exploring “strategic alternatives,” including a possible company sale, merger or acquisition.
In a press release, the company said it hired a financial advisor to look into actions that could “maximize shareholder value.” That includes a potential sale, M&A, divestiture of assets, licensing or other strategic transactions. It may also seek additional financing.
The company hit the public markets in late 2021 through a merger with a special purpose acquisition company, then a popular method of public exit for digital health firms … In the third quarter, Pear reported $4.1 million in revenue and a $30.7 million net loss. The company also said it had approved more layoffs, affecting 59 employees, or about 22% of Pear’s workforce at the end of September. It had previously laid off 25 workers over the summer.
Pear Therapeutics Announces Process Exploring Strategic Alternatives (press release):
Pear Therapeutics, Inc. (Nasdaq: PEAR) (“the Company”), the leader in developing and commercializing software-based medicines called prescription digital therapeutics (PDTs), today announced that it is engaged in a process to explore strategic alternatives to maximize shareholder value. The Company has engaged MTS Health Partners, L.P. to act as the Company’s exclusive financial advisor to assist in evaluating potential alternatives. MTS Health Partners is a leading boutique investment bank that provides strategic and financial advice to the healthcare industry … The Company does not expect to disclose or provide an update concerning developments related to this process unless or until the Company’s Board of Directors has approved a definitive course of action or otherwise determines that other disclosure is necessary or appropriate.
News in Context:
- Pear Therapeutics raises $175M and goes public via SPAC deal
- A call to action: We need the right incentives to guide ethical innovation in neurotech and healthcare
- Novartis dissolves agreement to market Pear Therapeutics’ prescription digital therapeutics for substance/ opioid abuse
- Pear Therapeutics raises $50M to develop and market a portfolio of digital therapeutics for mental health
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