AI Boost in Healthcare: Abridge Secures Major Funding

Healthcare startup Abridge has raised $250 million to enhance its AI capabilities for medical document creation. The funding round was co-led by Elad Gil and IVP, with investment from multiple ventures. Meanwhile, Teva Pharm's CEO urges Trump to expedite drug approvals, and NIH layoffs are revised to 1,165 employees.

In a significant move for the healthcare sector, startup Abridge announced it has successfully raised $250 million to bolster its artificial intelligence capabilities aimed at medical documentation. The funding round was co-led by entrepreneurs Elad Gil and IVP, attracting investments from notable entities such as Lightspeed Venture Partners and CVS Health Ventures, among others.

At the same time, Teva Pharmaceutical Industries' CEO, Richard Francis, has called on the Trump administration to expedite the approval of generic drugs. According to Francis, faster approvals are essential for bringing cost savings to the U.S. healthcare system. He emphasized the need for the FDA to adhere to regular timelines.

Furthermore, internal communications reveal that the Trump administration's layoffs at the National Institutes of Health have been adjusted, with the total now standing at 1,165 rather than 1,500. This adjustment follows a revision of the list of affected employees, who are set to begin administrative leave.

(With inputs from agencies.)