Digital musculoskeletal care company SWORD Health announced the acquisition of Vigilant Technologies, a maker of a wearable that aims to prevent workplace injury.
The financial terms of the acquisition were not disclosed.
The acquisition announcement comes months after SWORD Health raised $85 million in Series C funding in June.
According to data compiled by the World Health Organization, musculoskeletal conditions are the leading contributor to disability worldwide, affecting 1.71 billion people across the globe.
Vigilant Technologies offers a shirt collar (wearable) device that helps correct posture and prevents injuries in the workspace. According to a press release, the device has reduced MSK injuries by 33% and unsafe behaviors by 47%.
Several institutions and businesses have implemented the company’s technology, such as the US Department of Defense, the University of Pittsburgh Medical Center, Sheetz, Mitsubishi Caterpillar Forklift, and Frazier-Simplex.
“SWORD created the most effective way in the market to treat MSK conditions, and we are excited to help achieve Sword’s mission of freeing two billion people from physical pain,” said Andy Chan, founder, and CEO of Vigilant Technologies.
SWORD Health said the acquisition will propel the company further into the prevention of MSK injuries and will fuel its commercial growth.
“The SWORD ethos has always been to develop the best-of-breed clinical solutions that provide exceptional member outcomes. We’re excited about VIT’s technology which adds to SWORD’s capability to provide acute, chronic, post-surgical, and preventative MSK care,” said Virgílio Bento, CEO of SWORD Health.
One hundred thirty-six digital health companies were acquired in the first half of 2021 compared to 83 in 1H 2020. WHOOP, the creator of an app-connected smart wearable strap that tracks fitness activities, providing performance metrics and other data, acquired PUSH. PUSH is a connected wearable sensors system that helps athletes, and their trainers quantify weightlifting performance, plan, track, assess, and improve performance in real-time.
