Pfizer just cut a deal with digital health startup SidekickHealth, which uses a mobile app to help patients eat better, sleep better, and stick to their medications.
The deal is worth more than $8 million, a person close to the transaction said.
Sidekick’s app is designed to help people manage their chronic conditions and improve their health.
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Pfizer just cut a deal with digital health startup SidekickHealth to use its tech to help patients manage their diseases, a sign of how giant drugmakers are going beyond pills as they seek to do a better job of caring for patients.
Sidekick offers an app that encourages people to adopt healthier habits, such as eating well, sleeping enough, and exercising — while also taking their drugs when they’re supposed to. The deal is understood to be worth more than $8 million, a person close to the transaction told Business Insider.
Pfizer declined to confirm the deal size, but said its financial commitment is “scalable” depending on how the pilot program goes.
The deal focuses on patients with inflammatory conditions like arthritis and Crohn’s disease, according to a statement. Pfizer sells the medication Xeljanz, which is used to treat these conditions.
Patients with these kinds of chronic conditions can sometimes feel better if they change their diets and limit stress, but it can be difficult for doctors to help them do that.
Sidekick is one of a number of digital health companies, like Livongo Health and Omada Health, which are gaining ground as a way of providing better care for patients. Shares of Livongo, a public company focused on diabetes, have more than doubled since February. In May, Omada raised more cash to expand its online physical therapy offerings, and it also helps people with conditions like diabetes and hypertension.
Read more: How the coronavirus will permanently reshape the healthcare industry, according to 26 top industry leaders
Most of the top 10 causes of death around the world — including heart disease, stroke, and lung disease — can often be prevented with lifestyle changes like exercising or taking medication as prescribed, according to the World Health Organization and Centers for Disease Control and Prevention (CDC).
But the traditional healthcare system doesn’t always concern itself with patients’ habits unless they get seriously ill. In 2016 alone, treating chronic health conditions like obesity and hypertension in the US cost upwards of $1 trillion, according to a report by the Milken Institute.
Digital therapeutics companies have been busy lately
Companies like Sidekick and Livongo can partner with health plans, employers, or pharmaceutical companies to monitor patients over mobile apps and, sometimes, connected devices like blood sugar monitors. By telling them when to take their medication or logging their exercise, patients are supposedly kept healthier and health plans ot employers can save money.
Coronavirus accelerated adoption in this part of the industry by one to three years as clinicians have adopted a bigger appetite for digital tools, whereas before they might’ve resisted changes to how they …read more
Source:: Business Insider – Tech