CareKit Health, a healthtech startup based in Hamilton, has been acquired by Vancouver-based Moseda Technologies for $2 million.
CareKit‘s platform provides health care providers and families with patient data in real-time, and collects this data through wearables, sensors, and its proprietary voice technology hub. The company’s goal is to reduce emergency room visits and hospital readmissions by encouraging early intervention by health care provides if a patient’s health status becomes unstable.
The company has been working out of The Forge, the joint incubator of McMaster University, Innovation Factory, and Mohawk College.
“CareKit Health is a young company but we have already secured contracts in the US, Canada and the UK,” said Giancarlo De Lio, CEO of CareKit Health. “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.”
Moseda, which develops software applications for secure mobile health care solutions, acquired CareKit for $2 million in Moseda shares and performance warrants. De Lio will join Moseda as chief visionary officer while Leo Godreault, CareKit’s founder, will join as Moseda’s new vice president of products.
“We are excited to be bringing CareKit Health’s team, technology, products and customer pipeline into Moseda,” said Dr. Lisa Crossley, CEO of 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.”