Verita builds digital healthcare platform with global acquisitions

Chloe Kent 11 October 2019 (Last Updated November 21st, 2019 13:07)

Verita Healthcare Group has invested in three digital healthcare businesses across Asia and Europe as part of its international expansion and consolidation strategy.

Verita builds digital healthcare platform with global acquisitions
The three investments will be incorporated into the Verita Wisdom platform. Credit: Verita

Verita Healthcare Group has invested in three digital healthcare businesses across Asia and Europe as part of its international expansion and consolidation strategy.

The organisations acquired are: CelliHealth, a digital health and wellness platform for employers and insurers and nBuddy, a chronic disease management app. It has also gained a significant minority stake of just under 20% in Hanako, a company which provides a range of market-leading AI-driven mobile health screening solutions.

The three investments will be incorporated into the Verita Wisdom platform. Verita Wisdom offers a range of tools to enable the early detection, prevention, management and reversal of chronic diseases.

The most significant developments have been seen with CelliHealth, which has now been rebranded as Verita Wellness. The platform has added new features since the acquisition, including challenges and incentives designed to encourage the user to actively participate in healthier lifestyle behaviour changes.

The app will launch in Singapore at the end of 2019 to select Verita clients, including employees and patients of the company’s insurance and healthcare partners. In early 2020 it will expand to other international markets and be extended to customers of Verita’s commercial partners. The long-term plan is to make the platform available through public health bodies.

Likewise, Hanako’s platform is being rolled out in Verita clinics and is being offered as an on-site service to corporate partners.

Verita Healthcare Group founder Julian Andriesz said: “We plan to make more investments in the near future which will result in Verita Wisdom becoming the largest and best digital health platform in the world in terms of user base, services, geographical reach, proven outcomes and profitability. With each acquisition we look for a proposition that adds value to our clients, providing greater choice and smarter technology, as well the ability to integrate with our current services.

“The integration of these platforms under Verita Wisdom complements the Group’s other services, which include treatment and product manufacturing centres around the world, making proactive healthcare more accessible than ever.”

The announcement coincides with Verita’s recent establishment of a European headquarters in London, which will act as a strategic base alongside its US headquarters in Silicon Valley and its Asian headquarters in Singapore.

A Verita Healthcare Group spokesperson informed Medical Devices that, while the financial details of the arrangements are all confidential, Verita is planning to spend $50m-$60m over the next six months.