A Message from Carbon Health CEO Eren Bali

June 2, 2022

‍Yesterday, we announced the difficult decision to part ways with about 250 of our teammates at Carbon Health, representing approximately 8% of our global workforce. It is with both deep sadness and a true sense of gratitude that we said goodbye to those colleagues. 

Decisions like this are excruciating. However, given myriad external factors including the capital markets, I believe this decision is in the best interest of our patients, customers, partners, investors, and, ultimately, our team.

One of my guiding principles when I started Carbon Health was to “assume karma exists.” I wanted to make sure we could live that value in the bad times as well as the good, so we prioritized 1:1 conversations with every impacted colleague as well as offered generous separation packages, extended health care coverage, removed equity cliffs for options, allowed employees to keep their laptops, and we are offering outplacement support. (To that end, if you are hiring for amazing, mission-driven talent, please let us know at alumni@carbonhealth.com and our team will help connect you.) 

There are two reasons we made this decision despite the fact that our business is continuing to grow very quickly:

1. While our core business grew 4x in 2021 and will double again in 2022, we – like most healthcare providers – had significant revenue from COVID-specific lines of business. As COVID is entering a new phase, we are winding down some of those COVID-specific lines of business and that, unfortunately, means parting ways with some colleagues.
2. For the last few years, we have been more focused on topline revenue growth, patient acquisition, patient retention and service expansion, and we have been less focused on profitability. While that was the right decision in 2020 and 2021, the macro environment with more volatile capital markets means it is vital that we become less focused on growth and more focused on profitability. 

These changes, alongside a number of non-personnel related reductions in operating expenses, will allow Carbon Health to be profitable much earlier than we had originally planned, which is the prudent thing to do in today's market. Our mission – making great healthcare accessible – remains unchanged. The difficult actions we took were necessary to strengthen our position both financially and strategically for the future, and they set us up to deliver on that mission for our patients, providers, partners and employees. 

We are proud of our team and grateful for the contributions of every employee, including those leaving us. They have done important and impactful work, and have helped make healthcare meaningfully better.

Eren

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