Myant has acquired digital health company mmHg to advance its remote patient monitoring provision for cardiovascular care.
The Canadian company, which produces connected textiles that sense and react to the human body, said the acquisition formed part of a broader strategy of “prevention through precision to drive forward a new era of personalised, artificial intelligence-enabled remote healthcare”.
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Myant also anticipates that the acquisition will expand its geographic footprint and market reach in the US, given mmHg’s existing relationship with medical device and health product manufacturer A&D Medical.
Utilised by institutions such as Beth Israel Deaconess at Harvard Medical and Johns Hopkins University, mmHg’s platform enables healthcare providers to remotely track and analyse blood pressure and other cardiovascular indicators.
With the acquisition, Myant asserts that the combination of mmHg’s remote monitoring capabilities with its material and textile computing technology will enable healthcare providers to access continuous, real-time patient data for “earlier detection of health risks, personalised treatment plans, and better management of chronic conditions”.
Myant CEO Tony Chahine commented: “Our company is on a mission to make healthy ageing a reality for millions.
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By GlobalData“We want to turn the tide on chronic conditions and redefine what it means to grow older. This acquisition enhances our ability to offer comprehensive cardiovascular monitoring and risk management solutions, strengthening our role in transforming digital health and enabling this large ageing demographic to live younger, longer.”
Terms of the deal and the timeline for completion have not been disclosed.
MmHg’s co-founder and chief operating officer Peter Wood said: “The combination of Myant’s cutting-edge textile technology and mmHg’s clinically-infused software architecture will no doubt create the next generation of personalised care delivery, where patients will be able to transmit clinical-grade, continuous vitals data feeds to a platform that presents the data in an efficient and clinically relevant manner to care teams.”
According to GlobalData market analysis, the global patient monitoring market will reach a valuation of around $15bn by 2033.
Last November, Myant concluded the acquisition of Switzerland-based textile computing companies Nanoleq and Osmotex at an undisclosed sum.
