Sidekick Health announces landmark acquisition, expanding its portfolio to offer regulated Prescription Digital Therapeutics
The acquisition of aidhere strengthens Sidekick Health's digital health offering to patients and partners with the world's leading PDT company
LAS VEGAS, Oct. 10, 2023 /PRNewswire/ -- Sidekick Health, a global leader in digital health innovation, is poised to transform the landscape of digital therapeutics with the strategic acquisition of aidhere, a leading developer of prescription digital therapeutics (PDT) based in Germany.
In a significant move that underscores Sidekick Health's commitment to furthering the impact of digital healthcare, the company is thrilled to announce its expansion into the direct prescribing space working collaboratively with healthcare providers.
This acquisition brings with it zanadio, one of the most successful PDTs launched to date. zanadio has fulfilled over 50,000 prescriptions and is recognized within Germany's regulated nationwide DiGA (Digitale Gesundheitsanwendungen) formulary for prescribable digital apps. Achieving long-term behavioral change and significant weight loss of 8% in patients at the end of 12 months1, and with over 10,000 doctors prescribing it, zanadio is fully reimbursed for patients with a BMI from 30 to 40 kg/m². As a permanently approved DiGA, zanadio is reimbursed by all statutory health insurers in Germany.
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.
About Sidekick Health
Sidekick Health is a digital health and therapeutics innovator founded by two passionate medical doctors on a mission to improve the health of humanity. Sidekick provides a uniquely wide range of digital health programs (including oncology, cardiovascular, metabolic, inflammatory, and other chronic conditions), engaging and empowering people to make positive changes, and improve their health outcomes and quality of life. Sidekick's Adaptive CarePaths combine multiple programs into one, enabling multi-chronic care to support the growing number of people living with multiple chronic conditions.
Sidekick works with health insurers, including the largest U.S. health insurer, and pharmaceutical companies, including Eli Lilly and Pfizer, to improve patient outcomes, drive clinical efficiency, and lower the cost of care. Sidekick currently operates in multiple global markets and across the U.S., including patients in all insurance classes (Medicare, Medicaid, and Commercial).
Sidekick has offices in Boston, Berlin, Hamburg, Reykjavik, and Stockholm. To learn more, visit www.sidekickhealth.com.
Media Contact:
Serene Touma
Senior Director of Marketing & Communications
[email protected]
+49 1522 6788040
1 https://zanadio.de/studienergebnisse/
SOURCE Sidekick Health
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