John Delaney is out of the 2020 race for the White House.
The former congressman said he chose to step down because "he was unable to meet the 15% viability in a material number of caucus precincts" and didn't want to hurt other moderate candidates' viability.
The entrepreneur and co-founder of Healthcare Financial Partners and Capital Source had backed a universal health care system. He told Newsy in October that it's a better option than Medicare For All.
Delaney was the first Democrat to announce his candidacy — just months into Donald Trump's presidency. He said in his statement Friday: "Step one is to beat Donald Trump and restore decency to the Office of the President. In many ways, this is all that matters and I am fully committed to supporting our nominee and fulfilling that mission."
Delaney's announcement came just days ahead of the Iowa caucuses.