7 Digital Health Mergers & Acquisitions from 2017 Q1
This week, MobihealthNews came out with its list of 12 notable mergers and acquisitions in digital health during Q1 of 2017. We’ve got an abridged version below that highlights the 7 with the strongest implications for the 50+ health and caregiving tech market.
While some were bigger and more unexpected than others, [the impressive number of mergers and acquisitions so far this year] all demonstrate a maturing and consolidating space.
Fitbit acquires Vector for $15M
Following on its acquisition of Pebble, and the company’s announcement at CES that it would be developing an app store, Fitbit announced another smartwatch acquisition: Vector, a year-old Romanian startup that boasts a smartwatch with a 30-day battery life.
Vector could potentially have a lot to offer Fitbit as it enters the smartwatch business. Like Pebble, Vector has its own app store that developers can build for. The Vector delivers on its 30-day battery life by skimping on other smartwatch features: it eschews the touch screen in favor of side buttons and limits the Bluetooth communication between phone and watch. But it delivers features like activity tracking without having to be charged every night like an Apple Watch. (Read more).
GoodRx and Iodine merge with undisclosed terms
Santa Monica, California-based GoodRx, a digital cost transparency tool specifically for medication, has merged with San Francisco-based Iodine, which offers a similar tool for quality assessment and information on medications. The merger took the place at the end of 2016 but was not publicly announced until this year.
The companies will continue to work out of their respective headquarters and haven’t shown any signs of shuttering either brand. The two companies first began collaborating in August 2016, working on a project to incorporate drug-pricing data into Iodine’s existing content. (Read more).
DrFirst acquires VisibilityRx for an undisclosed amount
Rockville, Maryland-based DrFirst, which provides healthcare SaaS offerings ranging from medication management to clinical communications, has acquired clinical trial recruitment provider VisibilityRx.
The aim of the acquisition is to offer VisibilityRx’s patient identification, recruitment and communication capabilities to DrFirst’s 60,000 physician clients. (Read more).
RxWiki and TeleManager merge with undisclosed terms, with new name Digital Pharmacist
Austin, Texas-based RxWiki, which offers a medication encyclopedia written and edited by pharmacists as well as tools to help community pharmacists to communicate with consumers, has merged with TeleManager Technologies, a Newark, New Jersey-based provider of interactive voice response (IVR) and telecommunication technologies for pharmacies.
By combining their assets, the companies are able to offer a wider variety of services to independent pharmacies, including IVR and digital channels for communicating with patients and mobile apps. More
Medfusion acquires NexSched for an undisclosed amount
Patient engagement company Medfusion has acquired NexSched, which makes a patient-facing appointment scheduling tool.
Medfusion started out as a patient portal company in 2000. The company was acquired by Intuit in 2011 and then re-acquired by its original owner in 2013. It added a payment offering in 2015, shortly before a $3 million funding raise. NexSched is an appointment scheduling platform that lets patients access a doctor’s schedule in a limited way and set their own appointments, leading to fewer no-shows and a decreased call volume. (Read more).
GlobalMed acquires TreatMD for an undisclosed amount
Miami-based TreatMD, a telemedicine company that uses a platform approach to connect patients and physicians around the world, has been acquired by site-to-site telemedicine technology group GlobalMed.
GlobalMed has mostly focused on creating hardware and software to enable site-to-site telemedicine within hospitals and health systems, while TreatMD enables direct-to-consumer telemedicine. The acquisition could signal a move for GlobalMed further into the patient-facing telemedicine space. Certainly, GlobalMed is acquiring TreatMD to expand its available services. (Read more).
Digital Pharmacist acquires PocketRx for an undisclosed amount
Digital Pharmacist, the company formed in January from a merger of RxWiki and TeleManager, made its first acquisition at the end of the quarter: An app called PocketRx, made by Shreveport, Louisiana-based software development company Praeses.
PocketRx is an app to help patients manage their prescriptions, and is sold to pharmacy chains including Denver Health Pharmacy, USave Pharmacy and Owen’s Healthcare, who in turn offer the app to their customers. This is the same business model Digital Pharmacist uses. The two companies will work to integrate their offerings into one, and existing PocketRx customers will immediately have access to the Digital Pharmacist suite. (Read more).