UK-based health technology startup Methopad is well-known for leveraging machine learning in connecting patients with a wide array of healthcare experts. Recently, the company revealed that it had acquired Sherbit in a move to expand its operations into the United States.
Medopad, a company established outside London in 2011, provides technology to “bridge the gap between patients and medical teams,” according to a company’s statement.
In addition, the company boasts a committed AI division geared towards taking advantage of data gathered through the platform and generates predictive insights that ought to help in detecting potentially life-threatening situations.
Currently, Medopad has numerous big-brand partners spread out across several industries including technology, medical, insurance, and pharmaceutical. They include Boston Scientific, Johnson & Johnson, Pfizer, Apple, and Tencent.
“At Medopad, we want to create a world where people can live longer. We are working with some of the biggest companies in the world to improve the way doctors care for their patients by monitoring them at home and spotting any complications before they arise,” said Medopad founder and CEO Dan Vahdat.
As of now, Medopad has collaborated with several UK-based hospitals and has projects in various countries including China, Singapore, and Germany.
What’s more, the startup was among the companies that recently went to China alongside the UK Prime Minister Theresa May in an effort to nurture relationships. As a result of that visit, Medopad secured 143 million in terms of business in the country and raised a whopping $28 million in a series A funding round.
Sherbit was established out of a Harvard Medical School back in 2014. The company is similar to Medopad in that it focuses on leveraging personal data to uncover health insights by using apps, devices, and sensors. As such, its acquisition by Medopad makes sense, especially as it seeks to expand into the US market.
Although it is rare to spot a UK company acquiring a US company, KPMG has in the past referred to Medopad as a unicorn in the making. For this reason, expect to hear more about the company in the coming months and years.
“We are expanding rapidly across the world, and acquiring Sherbit is just the first step for us in the US.
Sherbit has a strong track record of success working with some of the most prestigious healthcare organizations in the US, including the Jefferson Health, Tufts Medical Center and the Mayo Clinic. Through this acquisition, Medopad will provide its technology to support solutions across different disease areas, from rare diseases to chronic conditions,” said Vahdat.
Before acquiring Sherbit, Medopad was already collaborating with several US-based entities. In fact, the company had opened two US-based offices in San Francisco and New York.
Aside from Methopad, most of the leading tech companies are operating in the healthcare field. Apple is spearheading an initiative geared at integrating iPhones with users’ medical records.
With AI also increasingly playing a major function in disease detection, DeepMind is making a number of partnerships in the healthcare sphere in an attempt to aid in detecting diseases. On the other hand, numerous startups are fundraising a lot of money to detect various early signs of specific illnesses through integrating data with AI.