📣 Digital Health Download | June 2025

Is the digital health IPO drought over? Halle and Michael dig into the Hinge Health IPO and what it signals for the return of digital health companies to the public markets. They explore how much equity founders typically hold at IPO, the growing role of private equity, and why down rounds aren’t the deal-breaker they once were.

Plus: Elizabeth Holmes’ husband launches a head-scratching startup, a former McKinsey healthcare partner faces prison time, and OpenAI teams up with the FDA.

We cover:

📈 What Hinge Health’s IPO means for digital health exits

📊 A new analysis of founder equity and CEO pay at IPO

🤖 OpenAI’s behind-the-scenes work with the FDA

⚖️ Why a startup is suing Epic for alleged anti-competitive behavior

🧪 The eyebrow-raising new diagnostics startup from Elizabeth Holmes’ husband

🚨 The McKinsey partner sentenced in the opioid crisis investigation

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Show Notes

• How Much Equity Do Founders Own at IPO? Read the full analysis on Substack
• Epic Faces Another Antitrust Lawsuit More on the Epic lawsuit via Fierce Healthcare
• OpenAI and the FDA Are Talking Drug Reviews Wired’s coverage of OpenAI-FDA discussions
• McKinsey Partner Sentenced in Opioid Probe NYT on McKinsey's legal fallout

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