Pear Bankruptcy Filing Highlights Reimbursement Barriers for Digital Therapeutics
Executive Summary
Pear Therapeutics, Inc. filed for Chapter 11 bankruptcy in April, saying that it had laid off about 92% of its staff but would still pursue a sale of the company or its assets. Health care insiders tell AIS Health, a division of MMIT, that the announcement by one of the pioneers in the prescription digital therapeutics industry highlights the challenges such companies face getting their products reimbursed. The difficulties are exacerbated by investors being wary of backing companies that promise future growth but have yet to turn a profit.
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