// startup autopsy
Carebook Technologies
Going public too early turned Montreal's health app into a TSX cautionary tale.
acquisition gone wrongZombie Startup
Technically alive but effectively dead, burning cash
| Founded | 2019 |
|---|---|
| Closed | 2023 |
| Country | Canada |
| Sector | Healthtech |
| Founder | Marc LeBlanc-Surprenant |
// the model, blind
Evaluating only Carebook Technologies’s profile at its peak — without knowing the outcome — the model ranked Unit economics as the #1 likely cause. Documented cause: Acquisition gone wrong.
Key Events Timeline
FOUNDING
Carebook Technologies founded in Montreal to offer corporate wellness and health management platforms.
FUNDING
Completed IPO on TSX Venture Exchange, raising CAD $10M to fund acquisitions and platform expansion.
DOWN ROUND
Shares dropped 80% from IPO; CoreHealth acquisition failed to integrate; revenue growth missed targets by wide margin.
SHUTDOWN
Delisted from TSX Venture Exchange; cash reserves exhausted; operations transferred to remaining acquirer interests.