NantHealth, the precision medicine company, is laying off one-third of its workforce—300 of its employees—after losing $70 million in its second quarter.
Also late last week, Allscripts announced that it would purchase NantHealth’s provider and patient engagement business in an all-stock deal. NantHealth has lost more than $300 million since it was founded nearly seven years ago. Founder Dr. Patrick Soon-Shiong has been accused of using his cancer vaccine as a marketing vehicle for GPS Cancer, which was key to NantHealth’s commercial success. News reports questioned how Soon-Shiong used charitable donations to help NantHealth. Soon-Shiong has blasted all negative claims as false.