IHealth buys EDevice for â‚¬94m
September 14, 2016
California-based IHealth, the first company to release an iOS connected blood pressure monitor, has acquired French connected care firm EDevice for €93.88m.
Connected care allows individuals and caregivers to identify health problems before they become dangerous for the individual, a cost to the healthcare system, and a burden on their employers. Connected care can empower patients, improve their compliance, allow them to correct a care plan, adapt a medication, inform caregivers, reduce hospital readmissions, and allow patients and their families to live a better life.
EDevice, with headquarters in Bordeaux, France, provides products that securely transmit medical data between patients and their systems, with hundreds of thousands of patients currently connected using EDevice technology. It has a track record of ten consecutive years of high revenue and profits growth.
IHealth was the first brand to release an iOS connected blood pressure monitor and became a leader in its space by proposing a full healthcare and wellbeing product range in the consumer connected healthcare market. Its products, that have received rewards from Red Dot design, iF design and CES innovation, and are distributed worldwide, empower people to manage their health and wellbeing and support monitoring along the continuum of care.
Due to the aging population, the increasing burden of healthcare costs and the development of chronic diseases, the mhealth market including connected devices (blood pressure monitor, glucose meter, pulse oximeter), apps (weight loss, women’s health, personal health record and medication) and services (remote monitoring, consultation, prevention) is expected to witness high growth in the coming years. According to Markets & Markets, this market is poised to reach US$59.15bn by 2020, growing at a CAGR of 33.4 per cent until 2020.