Medtech deals are still happening despite the economic pressures brought on by the coronavirus pandemic. The latest deal sees digital health specialist One Drop acquiring all the assets and intellectual property of Sano Intelligence for an undisclosed sum.
San Francisco, CA-based Sano had developed a biometric sensor that tells a person important things about their health by revealing how the person’s body metabolizes glucose. The deal between the two was structured as an asset purchase with several members of the Sano team slated to join One Drop.
New York-based One Drop said it will use the acquired assets including silicon-sensing production infrastructure, to design, produce, and commercialize a painless, silicon-based continuous health sensing platform for use across multiple conditions.
The deal could help One Drop become more firmly entrenched into telehealth – which is growing in popularity because of the need for social distancing during the COVID-19 pandemic.
"Telehealth and digital self-management of chronic conditions are more important than ever, and the benefits of real-time health sensing are obvious," said One Drop CEO and founder, Jeff Dachis. "By introducing continuous health sensing technology to One Drop's personalized solutions for a rapidly growing variety of health issues, we can empower people to make informed, proactive choices and prevent problems before they happen."
One Drop has definitely been on the radar over the past year. The company inked a deal to have its digital glucose monitors sold in Apple’s brick and mortar stores. The agreement not only boosted One Drop’s profile with the casual consumer, but it was also significant because it showed that Apple wasn’t limited to simply developing solutions – it could sell them as well.
MD+DI cited One Drop’s deal with Apple as one of 7 key moves that helped the tech giant push forward in healthcare.