Omada enters $30M acquisition deal with digital health company Physera
Category: #health  By Saipriya Iyer  Date: 2020-05-20
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Omada enters $30M acquisition deal with digital health company Physera

Omada Health, which has raised nearly $57 million in funding, has reportedly acquired a digital health company, Physera. It provides remote physical therapy to its customers.

The coronavirus pandemic has led to an increased demand for online care services, including physical therapy. Through the recent acquisition, Omada can offer access to the video appointments with licensed physical therapists to its members. It will be able to offer a personalized recovery plan and app-guided exercises. It also stated its plan to ensure the immediate availability of Physera’s services to the members.

According to Sean Duffy, CEO and co-founder of Omada, the integration of digital-physical therapy solution will equip the company to meet the ever-increasing digital care demand during the pandemic. This will also accelerate the progression towards an integrated care experience. The company believes that mental health issues, chronic conditions, and other needs should be primarily dealt with through the human-led digital care.

Physera also has taken steps to make its solution available among individuals and employers. Activision Blizzard, a game developer, is among its clients that reportedly saw declined musculoskeletal costs from adopting its services. The company bills its users $50 per appointment for the video visits, with $100 as an initial appointment charge.

Omada has been sweeping up various digital health companies to enhance their offerings. Founded in 2011, it had initially set its focus on developing various programs for hypertension and diabetes. Through the recent deal, it will add musculoskeletal conditions management to its lists of offerings.

Perceptive Advisor led the recent round of funding for Omada. The life sciences firm’s Sam Chawla, Portfolio Manager, has reportedly stated that Omada holds the vision of becoming a true digital care provider. The addition of musculoskeletal solution to its offerings will accelerate the aim of digitally providing care services, which makes the company an attractive opportunity for investment.

Omada and Physera’s acquisition deal is apparently worth around $30 million. Additional terms of the agreement have not been disclosed by Omada.

Source credit:

https://medcitynews.com/2020/05/omada-health-acquires-remote-physical-therapy-company/



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Saipriya Iyer

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Saipriya Iyer

Saipriya Iyer develops content for Market Size Forecasters, Algosonline, and myriad other platforms. A computer engineer by profession, she ventured into the field of writing for the love of playing with words. Having had a previous experience of 3 years under her bel...

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