Post-Pandemic, What Happens to All Those Covid Test Sites?
- ByStartupStory | November 10, 2021
Color Health Inc., as it is now known, plans to announce a new investment on Tuesday that values the company at $4.6 billion, more than triple what it was just 11 months ago. Now Color must show that a pandemic-themed business can still be profitable once the virus has been contained.The promise of another transformation is at the heart of Color’s post-pandemic strategy. Covid testing sites are currently located in over 6,500 offices, schools, and other locations across the United States, as well as 500 vaccination sites. Color will extend several of these locations to include a variety of health-care services, like flu vaccines and blood pressure checks. The concept is to provide a convenient location.
Color’s Covid pivot was valued at $1.5 billion by investors in January. The agreement reached this week raises the stakes much higher. General Catalyst, Viking Global, and Laurene Powell Jobs’ Emerson Collective were among the investors in the newest round, which was led by Kindred Ventures and T. Rowe Price Group Inc. Color raised $45.7 million, with the total projected to hit $100 million soon, according to the business.
Follow Startup Story
Related Posts
