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cuehealth.com

Founded Year

2010

Stage

IPO | IPO

Total Raised

$896.03M

Date of IPO

9/24/2021

About Cue Health

Cue Health (NASDAQ: HLTH) develops and manufactures consumer and professional medical diagnostic products that are designed to be used in the clinical setting and in the at-home settings, where appropriate. Cue’s mission is to create tools that empower physicians and consumers by increasing their access to their own health data. The Cue Health Monitoring System is a platform that provides rapid diagnostic information to clinicians and patients seeking to benefit from a connected healthcare delivery ecosystem.

Cue Health Headquarter Location

4980 Carroll Canyon Rd Suite 100

San Diego, California, 92121,

United States

858-412-8151

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Expert Collections containing Cue Health

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Cue Health is included in 8 Expert Collections, including Digital Health 150.

D

Digital Health 150

300 items

2019's cohort of the most promising digital health startups transforming the healthcare industry

M

Medical Devices

8,637 items

Companies developing medical devices (per the IMDRF's definition of "medical device"). Includes software, lab-developed tests (LDTs), and combination products. *Columns updated as regularly as possible.

D

Digital Hospital

98 items

Startups recreating how healthcare is delivered

D

Digital Health

13,075 items

Technologies, platforms, and systems that engage consumers for lifestyle, wellness, or health-related purposes; capture, store, or transmit health data; and/or support life science and clinical operations. (DiME, DTA, HealthXL, & NODE.Health)

T

Telehealth

2,833 items

Companies developing, offering, or using electronic and telecommunication technologies to facilitate the delivery of health & wellness services from a distance. *Columns updated as regularly as possible; priority given to companies with the most and/or most recent funding.

H

Health Monitoring & Diagnostics

1,743 items

At-home IVD test developers, at-home sample collection device developers, at-home testing service providers, and all other companies playing in the at-home testing ecosystem. Companies tagged as #AtHomeTestingEcosystem

Cue Health Patents

Cue Health has filed 16 patents.

The 3 most popular patent topics include:

  • Chromatography
  • Laboratory equipment
  • Analytical chemistry
patents chart

Application Date

Grant Date

Title

Related Topics

Status

7/10/2020

5/17/2022

Contactless smart cards, Perfume ingredients, Fungal morphology and anatomy, Mycology, Flavors

Grant

Application Date

7/10/2020

Grant Date

5/17/2022

Title

Related Topics

Contactless smart cards, Perfume ingredients, Fungal morphology and anatomy, Mycology, Flavors

Status

Grant

Latest Cue Health News

After rapid growth, San Diego COVID-19 test-maker Cue Health lays off 170 workers

Jun 30, 2022

After rapid growth, San Diego COVID-19 test-maker Cue Health lays off 170 workers San Diego health technology company, Cue Health makes COVID-19 test kits at its manufacturing facility. (Courtesy of Cue Health) Cue Health gained notable contracts with the NBA and Google. Now, the company says job cuts are a result of “economic challenges” and a drop in government funding. Print San Diego’s Cue Health, which went public last year in an IPO valued at nearly $3 billion, is laying off 170 manufacturing employees, due to “economic challenges” and cuts to government funding for COVID-19 testing, a company spokesperson said in a statement Wednesday. The cut is approximately 11 percent of Cue’s overall workforce and comes on the heels of massive growth and demand for Cue’s 20-minute COVID-19 test that delivers results directly to the user’s phone. The majority of laid-off workers are based out of the testing company’s Vista location, with the rest working at its two facilities in Sorrento Valley, according to the Worker Adjustment and Retraining Notification Act (WARN) notice filed with the state. Cue Health developed a rapid, at-home COVID-19 test through emergency use authorization and inked major deals with the NBA, Google and the U.S. Department of Defense early in the pandemic. In 2020, Cue netted a $481 million contract with the Department of Defense to produce 6 million COVID-19 tests and some 30,000 reading devices. With demand for diagnostic tests surging during the pandemic, the 12-year-old health technology company grew from 99 employees in January 2020 to 1,585 full-time employees at the end of 2021. Revenue for the first three months of this year was $179 million, up 178 percent from the year ago period, according to SEC filings. (For all of 2020, Cue Health’s revenue totaled $23 million.) Advertisement On Sept. 24, the upstart firm went public raising $200 million. It sold 12.5 million shares at $16 — the midpoint of its expected price range. The stock got off to a hot start, surging 25 percent to close that day at $20 per share on the Nasdaq Exchange. Its stock closed Wednesday at $3.32 per share, down 2.92 percent. But, the landscape and funding for COVID-19 testing have changed. The Biden administration announced earlier this month that it would divert funding for testing to COVID-19 vaccines for the fall. The United States also recently relaxed its pandemic rules for Americans returning from international travel and nixed a requirement to show proof of a negative COVID-19 test. In Cue Health’s annual report for 2021 , the company noted that it has historically relied on the Department of Defense and a small number of customers for the majority of its revenue. Last year, funding from the Department of Defense made up approximately 61 percent of Cue Health’s total revenue. As a result, the company acknowledged that any loss of customers or decline in demand for their COVID-19 tests could have a negative impact on their business operations and revenue. Recently, Cue Health was excluded from a contract issued by the Defense Logistics Agency for COVID-19, influenza and respiratory syncytial virus (RSV) rapid test kits and analyzers, according to the Government Accountability Office . The company protested the decision to exclude its proposal as “the result of an unreasonable and unequal evaluation” but Cue’s protest was denied in May. Despite the COVID-19 test kit being its only commercially available product, Cue Health has been trying to expand and diversify its offerings. “We’re best known right now for our COVID-19 tests. But we’re way more than just a COVID test company,” said Clint Sever, co-founder and chief product officer, in a previous interview with the U-T . “We have a platform that builds on over a decade of development,” he said. “And we have many more products on the way, things like flu and RSV tests, women’s health and sexual health. So, there’s a lot more content coming to the platform.” The company said in a statement to the U-T on Wednesday it remains “confident in our long-term strategy as we continue to broaden the number of customers we serve and advance our menu of future care offerings, reinforcing our mission to improve how healthcare is delivered by making it more efficient and timely, ultimately leading to better outcomes for people’s health.”

Cue Health Web Traffic

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Cue Health Rank

  • When was Cue Health founded?

    Cue Health was founded in 2010.

  • Where is Cue Health's headquarters?

    Cue Health's headquarters is located at 4980 Carroll Canyon Rd, San Diego.

  • What is Cue Health's latest funding round?

    Cue Health's latest funding round is IPO.

  • How much did Cue Health raise?

    Cue Health raised a total of $896.03M.

  • Who are the investors of Cue Health?

    Investors of Cue Health include Johnson & Johnson Innovation, CAVU Venture Partners, Decheng Capital, MSD Capital, Perceptive Advisors and 23 more.

  • Who are Cue Health's competitors?

    Competitors of Cue Health include Visby Medical, Cardea Bio, Baebies, MeMed, Accellix, Inflammatix, Oxford Nanopore Technologies, LumiraDx, Roche Holding, Cepheid and 28 more.

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