Pharmaceutical firm Merck & Co exited US-based remote monitoring services provider Healthsense on Tuesday through an acquisition of undisclosed size by connected health technology producer GreatCall.
Healthsense has developed a system that utilises wireless sensors to oversee the everyday activities of elderly or disabled patients, using data to establish patterns indicating normality and allowing carers to discern any changes that may reflect a negative change in their health.
The company had raised approximately $23m in equity and $6.6m in debt financing since it was founded in 2001, according to securities filings and press releases.
Merck’s Global Health Innovation (GHI) Fund first invested in Healthsense in 2012, teaming with healthcare provider Fallon Community Health Plan to provide $7m.
Merck GHI returned for a $10m round two years later that was led by private equity firm Mansa Capital and backed by Radius Ventures.
David Inns, chief executive of GreatCall, said: “Acquiring Healthsense brings important capabilities in predictive analytics that dovetail with our deep customer knowledge, expands our offering, as well as increases our exposure in senior living and healthcare.”