Reykjavik-based startup Sidekick Health has made a strategic move by acquiring aidhere, a German company specializing in prescription digital therapeutics (PDT), including their product, zanadio. This acquisition represents a significant step in bolstering Sidekick Health’s presence in the digital healthcare sector, firmly establishing the company at the forefront of this rapidly evolving industry. It also opens up exciting opportunities for collaboration with US healthcare payers and global pharmaceutical firms, underlining Sidekick Health’s commitment to advancing digital healthcare.
The acquisition seamlessly merges Sidekick Health’s patient-centric platform with aidhere’s expertise in regulated PDTs, promising to reshape patient-centric care within the digital therapeutics space. It’s a move that follows Sidekick Health’s triumphant Series B fundraising round in 2022, with support from influential investors such as Novator Partners, Asabys Partners, Frumtak Ventures, and Wellington Partners.
A key asset brought by this acquisition is zanadio, which has earned a reputation as one of the most successful PDTs launched thus far. With over 50,000 prescriptions filled, zanadio has secured a place in Germany’s highly regulated nationwide DiGA (Digitale Gesundheitsanwendungen) formulary, allowing it to be prescribed as a digital therapeutic app. Notably, it has shown remarkable results, including long-term behavioral changes and significant weight loss of up to 8% in patients over 12 months. What’s more, with over 10,000 doctors prescribing it, zanadio is fully reimbursed for patients within a specific BMI range, further solidifying its success. As a permanently approved DiGA, zanadio is eligible for reimbursement by all statutory health insurers in Germany, making it an exceptional addition to Sidekick Health’s portfolio.
Sidekick Health’s CEO, Dr. Tryggvi Thorgeirsson, shared that the decision to acquire aidhere was fueled by the shared PDT vision and cultural alignment of the two organizations. “Developing and distributing prescribed therapeutics has always been core to our long-term vision, and when we were introduced to aidhere’s remarkable products and exceptional team, we knew that joining forces was the right step to take,” said Thorgeirsson.
This strategic acquisition places Sidekick Health at the forefront of the industry, while presenting exciting opportunities for the introduction of a new offering to Payer partners in the US, and the co-development of prescription digital therapeutic products with global pharmaceutical partners. By integrating aidhere’s expertise and products into its portfolio, Sidekick Health strengthens its position as a trusted partner for global health insurers and pharmaceutical giants as it pioneers the introduction of PDTs.
In addition to the newly formed PDT business, Sidekick Health’s business is primarily centered on two areas: payers in the US and global pharma. Within the US payer landscape, the company has notably collaborated with the largest US health insurer, and is live with US insurance partners in Medicare, Medicaid and commercial populations. In the pharmaceutical sector, it has cultivated strategic partnerships with industry giants like Pfizer and Eli Lilly, with multiple live programs in both the US and Europe, and expanding to more markets in 2024.
The acquisition brings together the passion, knowledge, and experience of two industry leaders. Sidekick Health’s robust digital health ecosystem, a patient-centric platform with multi-chronic capabilities that supports over 20 disease areas, coupled with aidhere’s expertise in highly-regulated PDTs, creates a synergy poised to redefine patient-centric care. With its platform approach, Sidekick Health is positioned to emerge as a natural consolidator in the digital therapeutics space
“aidhere has a strong and respected track record within the digital health industry, with one of the most successful PDT products in the world. This acquisition brings market-leading products and a depth of expertise in prescription digital therapeutics to Sidekick, as we enhance and build on our patient care offerings in the digital health and therapeutics space with our global partners,” said Thorgeirsson.
Sidekick Health’s recent success in closing its Series B fundraising round in May 2022 laid the foundations for the company to accelerate innovation and drive even greater impact in the digital health and therapeutics sector. Notable investors in Sidekick Health include Novator Partners, Asabys Partners, Frumtak Ventures, and Wellington Partners.
Read the orginal article: https://arcticstartup.com/sidekick-health-acquires-aidhere/
