Remote Patient Monitoring M&A – 2023 2022 2021 Precedent Transactions

October 2, 2023

Ascento Capital is an investment bank specializing in the tech sector with extensive experience in HealthTech. This M&A sector report is on Remote Patient Monitoring (RPM) which includes commentary on M&A activity and recent M&A transactions.

M&A Activity 

M&A activity was very active in 2021 given the pandemic restrictions on patients visiting medical facilities and the generous funding available to RPM companies to grow rapidly. After a quiet 2022, activity has increased in 2023 year-to-date with notable transactions outlined below including Abbott / Bigfoot Biomedical, MD Revolution / NavCare, HeartBeam / Livmor, and Ucardia / Phas3.

M&A Transactions

9/5/23 Abbott to acquire Bigfoot Biomedical, furthering efforts to develop personalized, connected solutions for people with diabetes

  • Abbott is engaged in pharmaceuticals and manufacturing healthcare products.
  • Bigfoot developed Bigfoot Unity, a smart insulin management system that features the first and only FDA-cleared connected insulin pen caps that turn data from a continuous glucose monitor.

8/18/23 Doccla acquires OpenTeleHealth, expanding in 12 markets

  • Doccla is a London-based virtual ward technology provider looking to expand its global presence.
  • OpenTeleHealth is a universal cloud-based remote patient monitoring platform that enables patients to measure health data at home.

8/1/23 MD Revolution acquires NavCare to expand remote patient care management services

  • MD Revolution is a leading provider of remote care management and clinical services.
  • NavCare is a remote patient care services company specializing in comprehensive chronic care management (CCM).

5/24/23 Florence acquires telehealth platform Zipnosis from Bright Health

  • Florence is an innovator in healthcare enablement software.
  • Zipnosis is a hospital and healthcare company that specializes in online diagnosis and triage, telehealth, and virtual care.

5/08/23 Ucardia announces acquisition of Phas3; launches new cardiology remote patient offering

  • Ucardia is a cardiac conditioning software developer, which will be launching its newest offering, Ucardia-at-Home.
  • Phas3, a pioneer in the home-based cardiac rehab space, develops software that allows clinicians to monitor and engage with their cardiac patients.

4/25/23 TSC Connected Care today announces the acquisition of all assets from the Connected Health Group

  • TSC Connected Care, an innovative digital health solutions company and owner of the Sensium remote patient monitoring platform.
  • Connected Healthcare Group’s acquired assets include the CareXS Digital Health Platform.

3/6/23 Transcarent to acquire 98point6 AI-Powered virtual care platform and Care Business

  • Transcarent is a health and care experience firm that makes it simple to obtain high-quality, low-cost healthcare.
  • 98point6 is the leading AI-powered virtual care platform and care business of on-demand primary care company.

3/14/23 HeartBeam acquires patient monitoring assets from Livmor to extend its reach in remote monitoring and detection

  • HeartBeam provides a diagnostic product portfolio that monitors patients and can detect cardiac diseases in the ambulatory and emergency department setting.
  • Livmore is a digital health solutions company that provides remote monitoring through their wearable products.

11/10/22 ELNA Medical makes major foray into in-home patient monitoring with acquisition of m-Health Solutions

  • ELNA is a Montreal based integrated network of medical clinics looking to increase accessibility to care.
  • m-Health Solutions is a leading remote health diagnostics and monitoring solution for ambulatory patients.

10/18/22 BioIntelliSense acquires AlertWatch® Clinical Intelligence Engine to expand its comprehensive portfolio of continuous patient monitoring solutions

  • BioIntlliSense is a continuous health monitoring and clinical intelligence company.
  • AlertWatch is an FDA-cleared, clinically proven patient monitoring solution.

9/08/22 PrepMD RMS announces the acquisition of the IP and technology assets of LindaCare

  • PrepMD RMS is a premier cardiac clinical solutions company, providing tailored remote cardiac monitoring.
  • LindaCare is a digital health company specializing in remote monitoring.

4/22/22 Advocate Aurora Health’s investment arm acquires MobileHelp, a medical alert system maker

  • Advocate Aurora Health is a non-profit health care system with dual headquarters located in Wisconsin and Illinois.
  • MobileHelp is a company with technology that relies on wireless voice, data, and GPS tracking to identify the location of a patient in crisis and expedite emergency assistance.

10/12/21 Best Buy to acquire Current Health to help make home the center of health

  • Best Buy Health is focused on providing exceptional senior care and elder care technologies by using tech-enabled human interactions.
  • Current Health, a leading care-at-home technology platform that brings together remote patient monitoring, telehealth, and patient engagement into a single solution for healthcare organizations. 

10/5/21 Carbon Health acquires RPM vendor Alertive Healthcare to flesh out at-home monitoring

  • Carbon Health runs more than 90 brick-and-mortar primary care clinics across 14 states.
  • Alertive Healthcare’s platform uses integrated devices to collect patients’ physiological data and delivers alerts regarding adherence or if the patient’s condition becomes critical. 

8/24/21 Connect America Acquires Remote Patient Monitoring Platform 100Plus

  • Connect America LLC is a provider of digital health and connected care for seniors and vulnerable populations.
  • 100Plus is a remote patient monitoring (RPM) platform that uses artificial intelligence (AI). 

8/3/21 ModivCare Announces Acquisition of VRI, a leading provider of remote patient monitoring solutions in the United States

  • ModivCare (Nasdaq: MODV) is a technology-enabled healthcare services company that provides a suite of integrated supportive care solutions focused on improving patient outcomes.
  • VRI Intermediate Holdings, LLC (“VRI”) is an industry-leading provider of remote patient monitoring (“RPM”) solutions.

7/28/21 Amwell Acquires Two Digital Health Startups For $320 Million As Telehealth M&A Frenzy Continues

  • Amwell offers telehealth visits with therapists and psychiatrists.
  • The two companies—SilverCloud Health and Conversa Health—are part of Amwell’s strategy to work with patients along their entire care journey and not just limit the relationship to one-off virtual visits. 

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