iHealth Labs, the connected device subsidiary of Andon Health with offices in Paris and Mountain View, California, has acquired Bordeaux, France-based eDevice for $106 million (98.33 million euros). eDevice is a longtime European provider of back-end infrastructure that connects remote monitoring devices to hospitals and healthcare providers.
"eDevice is an amazing company and together, we will make a difference in the healthcare world," Yi Liu, founder and chairman of the iHealth Andon Group, said in a statement. "The Andon Group (through iHealth) already has a strong presence in Europe, in the US and in China. We are now in a position to take the market leadership globally. [Cofounders] Marc [Berrebi] and Stephane [Schinazi] will continue to lead eDevice, together with the current eDevice management team, and will have a strategic advisory position in the Andon Group.”
iHealth is one of the earliest players in the smartphone-connected health device space. It offers a variety of weight scales, activity trackers, blood pressure monitors, and glucometers in the US, Europe, and China. Recently the company has shifted from a primarily direct-to-consumer focus toward a business-to-business market through products like iHealth Connect, its enterprise health management system, which it announced at HIMSS this year. The system includes iHealth Gateway, a secure hub for collecting data from various iHealth devices in the home as well as software systems for diabetes management, outpatient care, and population health.
Acquiring eDevice seems like another step along this path. eDevice's technology will help iHealth to transfer data from its various devices to healthcare providers.
“We have built a fantastic toolset able to answer to the requirements of the most demanding healthcare companies regarding quality, regulatory, and scalability," Stephane Schinazi, co-founder of eDevice, said in a statement. "Whilst our client base is mostly in the US, we see the opportunity to address global markets with more geographic presence and more resources”