UK-born health tech start-up Medopad has acquired a Silicon Valley outfit just two months after expanding into the US.
Medopad, which develops patient monitoring apps and data analytics technology, has purchased Sherbit, a San Francisco-based start-up that offers similar health tracking and analytics capabilities.
Through the acquisition, Medopad hopes to develop new solutions to support patients with rare diseases and chronic conditions.
Dan Vahdat, CEO and founder of Medopad, said: “Acquiring Sherbit fits within our strategy to bring the healthtech ecosystem closer together, and to realise our vision to create a world where people can live longer.
“Sherbit has a strong track record of success working with some of the most prestigious healthcare organisations in the US, including the Mayo Clinic, Tufts Medical Center and Jefferson Health.
“Through this acquisition, Medopad will provide its technology to support solutions across different disease areas from rare diseases to chronic conditions, reducing fragmentation and delivering at scale for Sherbit’s current and pipeline clients.”
The purchase of Sherbit marks the first of several planned acquisitions by Medopad, which opened two new New York offices in July after it announced a State-side expansion.
Medopad works with healthcare systems, pharma companies and research institutes across the world, as well as big tech firms such as Apple and Tencent, to tackle chronic and complex disease monitoring.
It was welcomed into the Pzifer UK start-up accelerator in a bid to help more patients benefit from Medopad’s tech.
In January, the firm announced a partnership with Johns Hopkins University to explore new machine learning and patient monitoring innovations.
The company also opened a new office in San Francisco.
Alex Senemar, CEO of Sherbit, said the two companies “share the same vision to help people be healthier and live longer”.
Senemar added: “We’re excited to leverage Medopad’s technology, clinical, and predictive analytics capabilities to expand what’s possible for our customers.”
Medopad raised $28 million in its first round of funding in early 2018 and has struck deals in excess of $140 million in China.