Letter from Redox CEO

December 6, 2022
Luke Bonney Co-Founder & CEO

I’m writing with some sad news. Today we had to say goodbye to Redoxers we love, reducing the size of the team by 14%. The Redoxers who are leaving us are talented and dedicated – today’s layoffs are not their fault but instead a very hard decision that the management team and I made as we refine our business focus. We did everything we could to avoid the decision to reduce headcount. I take full responsibility for this decision. 

What we’re seeing today is unique. Macroeconomic headwinds are translating into tighter budgets. Staffing shortages at healthcare provider organizations are impacting the technology they procure and purchase. And bearish financial markets are making access to capital more difficult for startups attempting to bring new innovations to the market. This is our new reality. 

In response, we at Redox are making hard decisions to ensure we completely control our financial destiny as we pursue our mission of making the world’s healthcare data useful.

For those of you who have worked with us, you know that Redoxers are committed, passionate, and extremely knowledgeable about the inner workings of our industry. It is the people who have made Redox the company it is today. 

If you’re hiring and would like to consider a former-Redoxer, please reach out to [email protected] ​​and we will share roles with our Alumni group. Ideally, these folks can stay within the industry to take advantage of their time at Redox and continue to drive impact with our customers, partners, and healthcare delivery organizations. 

With these challenges come huge opportunities. Redox is still growing aggressively. Our R&D teams continue to bring ground-breaking innovations to market. We continue to work with new partners to create massive impact in the evolving healthcare landscape. Our existing partners continue to expand and grow. Last month we saw another record breaking number of transactions move across the Redox platform, with close to 700M. I have no doubt that we will see amazing change and innovation in the industry as we all shift to the new realities in front of us.

The problem we seek to solve is massive, and from the beginning of Redox we knew we had to be in it for the long-haul. We’re committed to making healthcare data useful, now and into the future. Today that means making tradeoffs that hurt. In the long run, Redox will be here to continue supporting a healthcare technology ecosystem that brings efficiency, access, and a bit more humanity to healthcare delivery.