Tech-enabled sleep health startups Fusion Health and Nox Health have announced their plans to merge under the Nox Health name.
Atlanta-based Fusion Health works with payers and employers to deliver sleep treatment programs. Historically, its main focus has been on population sleep health.
Meanwhile, Icelandic company Nox is focused on sleep analytics and diagnostics. The company’s sleep products include a connected sleep monitor, software analysis system, sensors and a wireless ‘access point’ that can receive physiological signals during the night.
WHAT'S THE IMPACT
By joining their efforts, the companies say they will be able to bring their sleep health offerings to more individuals who could benefit from diagnostics and treatment programs.
“We have been working alongside Nox Medical for years, and this move is the next natural milestone for our companies,” Sigurjon Kristjansson, cofounder of FusionHealth and CEO of Nox Health, said in a statement. “Nox Medical’s depth of expertise in the sleep diagnostic technology space, combined with the breadth of solutions available through FusionHealth, will allow us to amplify our impact and help far more people than either of us could do alone.”
THE LARGER TREND
Traditionally, M&A has been one of the most popular exits for digital health companies. Rock Health tracked 112 M&As in the digital health space during 2019, of which MobiHealthNews covered 53. And while Rock Health reports that this number is up slight from 2018, which had a total of 110 M&As, the number is down from the all-time high in 2015, with 188.
Sleep health is hot in the digital health space. Last week at CES, a slew of sleep-focused technologies came onto to the scene including a new Sleep Number bed called the Climate 360, a sleep wearable called Ebb Therapeutics and a sleep training headband from URGOTECH.
Even major tech players have been interested in the sleep space. In May Apple acquired the patent rights for an in-bed sensor system. However, Apple continues to be one of the wearable companies without sleep tracking in its watch. Fitbit and Withings have been active in the sleep space for some time.
ON THE RECORD
“Nox Health brings together two teams at the forefront of sleep health who are truly invested in furthering our understanding of sleep-related issues,” Petur Mar Halldorsson, CEO of Nox Medical, said in a statement. “Nox Medical and FusionHealth have each made a name for themselves in the industry and will maintain those reputations while simultaneously growing together to include even more innovative, personalized offerings to help resolve the global sleep epidemic.”