Blood in the Water
The health tech industry is big, big money. The medical device industry in the United States alone is expected to grow to $208B by 2023, making it an attractive market for entrepreneurs to break into and leave their mark as pioneers.
While Theranos steals the show with one of the most bizarre, convoluted schemes that flopped in recent years (if ever before!), there are plenty of other health companies that have flatlined since their inception. Our personal favorite includes Healthspot, a kiosk-based organization founded in 2010 that allowed patients to video chat with their doctor. Unfortunately, they may have been a bit ahead of their time as they were forced to hang up their scrubs in 2016 due to competition from Teladoc and other virtual-based software medical providers.
Take a look at some of the other healthcare startup failures throughout the years.