Retrace Health Founders Get The Boot

The two men still maintain a stake in the company.

Thompson Aderinkomi and Steven Bayer left their positions at RetraceHealth, a startup that they founded in 2013. Aderinkomi served as CEO and Bayer was the CTO.
 
Few details have been disclosed, but Tech.mn reports that the two were “fired” about two weeks ago—though they still maintain vested in Retrace.
 
Angie Franks, who formerly served as CMO at Minneapolis startup Sports Engine, was named the new CEO.
 
“I trust that the new leadership will do their best for the company and employees,” Aderinkomi told Tech.mn.
 
Retrace offers telemedicine services with nurse practicioners and in-home visits—including X-rays and labs—for a monthly fee or on an a la carte basis. The model is meant to drive down the cost of care to improve accessibility, as well as more flexibility for patients.
 
The company has attracted an influx of money from several big names in health care. In January, Retrace raised $1 million from funders that included Blue Cross and Blue Shield of Minnesota, HealthEast and McKesson Ventures. They followed up with another $7 million round in June.