Cue Health rode Covid-19 to an NBA deal and a $3 billion valuation. Now it faces layoffs and a rocky future

It didn’t have the brand recognition of Abbott, or the billions of the medical technology multinational Becton Dickinson. Before the pandemic hit, Cue Health didn’t even have a product on the market. What the fledgling company did have in July 2020 was a deal to provide its newly authorized Covid-19 test for the National Basketball Association’s highly publicized bubble.

With the imprimatur of the NBA, Cue rocketed from startup obscurity to primetime fame.

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