Mobile health firm Moseda Technologies said today it acquired CareKit Health Co., developers of a software platform that allows complex patients to receive healthcare in their homes.
CareKit’s platform integrates wearables and sensors and includes an integrated voice technology hub, mobile applications and desktop computer user interfaces for patients, clinicians and healthcare administrators, the company said.
“We are excited to be bringing CareKit Health’s technology, products and customer pipeline into Moseda. CareKit’s focus on using technology to provide cost effective, high quality in-home healthcare fits perfectly with Moseda’s strategic focus on the community care market, which is expected to reach $43 Billion globally by 2019,” CEO Dr. Lisa Crossley said in a prepared statement.
Moseda made the buy by purchasing all shares of CareKit and issuing 600,000 Moseda shares and 9.4 million Moseda performance warrants at 20¢ per share with an exercise term of 3 years. The shares will be released to CareKit holders in 18 months.
The warrants will vest with the completion of certain performance conditions, with a limited vesting term of 2 years.
“CareKit Health is a young company but we have already secured contracts in the US, Canada and the UK. Joining Moseda will give us the ability to rapidly increase our global presence and we are excited about the increased value our combined technology portfolios and talent will provide to our customers,” CareKit Health CEO Giancarlo De Lio said in a prepared statement.
Along with the buy, Giancarlo De Lio was appointed chief visionary officer at Moseda and Leo Godreault has been appointed as veep of products. Sameet Kanade resigned as a director and officer.