The fifth episode of Rounds, Take the Money and R1, airs next Thursday, October 1st at 1pm ET. Stephanie Davis and I are starting with the biggest recent headlines in health tech. Oura filed its long awaited S-1 and we walk through the puts and takes of business opportunity and a rich implied valuation. Additionally, we discuss p(doom) as an ex-Anthropic researcher says AI staff are "genuinely frightened" for humanity's future, putting the odds of AI wiping out humanity within a decade at more than 10%. Then we're joined by Megan Scheffel, Head of Life Science and Healthcare at @SiliconVlyBank (our amazing sponsor), to dig into SVB's latest report on healthcare investments and exits. Venture fundraising has hit a decade low. Is that a pause or a permanent shift? We'll also talk AI valuations, IPO candidates, and where M&A is heating up. Closing out the episode are Dan Bise, EVP of Strategy and Corporate Development at R1 RCM, and Jeremy Friese, MD, CEO and Founder of Humata Health. They'll walk us through R1's take-private, its push toward an AI-native revenue cycle, and why Humata became the "must-own" piece for solving prior authorization.  Watch right here on X or via LinkedIn, YouTube, Spotify, and Apple Podcasts ↓