CNBC December 24, 2024
Key Points
– It’s been nearly five years since the coronavirus broke out in the U.S., but digital health companies are still reeling from the aftermath.
– According to a CNBC analysis of 39 public digital health companies, around two-thirds have lost value this year, while the Nasdaq is up 32%.
– “The pandemic was a huge pull forward in demand, and we’re facing those tough, challenging comps,” said Scott Schoenhaus, an analyst at KeyBanc Capital Markets.
If the Covid era marked a boom time for digital health companies, 2024 was the reckoning.
In a year that saw the Nasdaq jump 32%, surpassing 20,000 for the first time this month, health tech providers largely suffered. Of 39 public digital health...
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