Techstars Alum Hidrate Is Raising $2.6m

Techstars grad Hidrate has raised $2.1m of a $2.6m including conversion of principal and interest under the issued and outstanding convertible promissory note (per SEC disclosure).

Born from Twin Cities Startup Weekend 6 in 2014, the company’s Spark product is a smart water bottle that “makes sure that you’re hydrated all day long.”

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[UPDATED] RedBrick Health Bought Up By Marlin, Merges With Virgin Pulse & Moves HQ To Rhode Island

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Updated 5/21/2018 130 CDT: Marlin also acquired Virgin Pulse and is merging the two entities with a combined HQ to be based in Rhode Island while maintaining a Minneapolis office.

Original 5/8: Redbrick Health, a local tech darling that failed to live up to IPO aspirations, has been sold to Marlin Equity Partners from Hermosa Beach, CA.

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Blue Cross Inks Exclusive Deal With Digital Health & Wellness Firm Sharecare

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Via News Release

“EAGAN, Minn., May 14, 2018 /PRNewswire-USNewswire/ — Blue Cross and Blue Shield of Minnesota (Blue Cross) today announced that it is partnering with Sharecare, the digital health company that helps people manage all their health in one place, to offer its popular and groundbreaking personalized health platform to Blue Cross commercial customer groups and members starting in 2019.

This agreement will provide exclusivity to Blue Cross as the only Minnesota-based plan to offer the Sharecare platform.”

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Former UHG Lawyer Joins Local Wearable Tech Startup BOD

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Via News Release

“Eden Prairie, MINN. (May 4, 2018) – Richard Nigon and Kevin H. Roche, prominent leaders in the Twin Cities medical technology industry, have joined the RxFunction, Inc. board of directors.

RxFunction, Inc. is a wearable technology company that created walkasins® – the first Wearable Sensory Prosthesis (WSP™) – to help improve balance and gait in patients who experience balance problems due to sensory peripheral neuropathy.”

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Andy Slavitt Launches Healthtech VC Firm Town Hall Ventures

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By Jonathan Shieber, TechCrunch

Town Hall Ventures launches today as the latest venture investment firm to take a stab at transforming the woefully broken U.S. healthcare market through technology. What Town Hall has that many other firms trying to invest in healthcare technology don’t is a group of founders who have spent time in the trenches of the American healthcare system.”

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[UPDATED] Investors Sue Duluth Startup GeaCom

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Updated 5/4/2018via Law360 (published on April 9, 2018, 7:37 PM EDT paywalled) — An Illinois federal judge whittled down a shareholder suit on Friday accusing Minnesota medical device manufacturer GeaCom Inc. and its executives of misrepresenting the company’s financials and mishandling investors’ money, tossing the bulk of their complaint but giving the stockholders a second chance to refile.

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