Circulo Health, an Ohio-based health tech startup, plans to lay off up to 50% of its staff this week amid a larger shift in its business plan, Axios has learned from four sources.
Why it matters: Circulo is one of a small but growing number of tech-driven health care companies focused on people who use Medicaid, a population the vast majority of digital health entrepreneurs and investors have long ignored.
The following month, Circulo said it raised $50 million in Series A funding from Drive Capital, General Catalyst, Oak HC/FT and SVB Capital.
The company currently has between 300 and 350 employees, the sources say.
