Medivo, a healthcare IT company based in New York City, has acquired OnTrack Diabetes, an Android-only diabetes management app, for an undisclosed amount. This is the second disease management app acquisition for the company, which bought WellApps last year.
OnTrack helps users track blood glucose, food intake, medication, blood pressure (BP), pulse, exercise and weight. It also produces charts, graphs and reports the user can share with a physician. Medivo will use the app to coordinate patient care in a clinical setting and offer it as a tool that physicians can recommend to their patients. According to Medivo, OnTrack has been downloaded 500,000 from the Play Store.
“We are extremely excited about adding the powerful OnTrack Diabetes app as a resource for patients to monitor their symptoms and to create reports that can be shared with their physician,” Sundeep Bhan, Chief Executive Officer and a Co-Founder of Medivo, said in a statement. “This acquisition also fits with our growth strategy, enhances our consumer app portfolio and furthers our plans to develop new patient and physician engagement services.”
Medivo’s business model is built on giving patients easier access to their lab results and giving physicians access to an aggregated dashboard of patient labs and other data, as well as giving patients tools to monitor chronic conditions. The company raised $15 million in June, bringing its total funding to $22 million.
In March 2012, Medivo acquired WellApps, makers of a similar app, GI Monitor, that helps people to monitor and track Inflammatory Bowel Disease (IBD), Crohn’s Disease and Ulcerative Colitis. In that case, the app was rebranded and integrated into the Medivo Monitor platform for patients and the Medivo PatientPath platform for physicians.
Similarly, Azumio acquired SkyHealth, makers of Glucose Buddy, in July of 2012. In both cases, it's likely that a significant user base was a large part of the value of the acquired app.