Consumer Medical, a clinic-decision-support, and second-opinions company acquired InfiniteMD, a virtual-specialist medical-opinion platform.
The terms of the transaction were not disclosed.
Founded by Harvard physicians and MIT engineers, InfiniteMD empowers patients by providing access to specialists in medicine for guidance on critical and complex conditions. Patients around the world can connect with top physicians in the U.S. via remote video and written consultations using its proprietary platform. The company works with physicians from institutions like Harvard Medical School-affiliated hospitals and other top clinical centers.
Hospital delivery networks use the platform, and according to the company, it has processed thousands of complex medical opinion cases in more than 40 countries.
“This acquisition streamlines the delivery of critical, expert medical guidance that will give our participants facing serious and complex illnesses a more convenient, tech-enabled, and virtual experience,” said David Hines, CEO, and Founder of ConsumerMedical.
In January, InfiniteMD received a strategic investment from ConsumerMedical, a clinical advocacy company.
“We launched InfiniteMD with the premise of building the best technology-enabled expert opinion service,” said Christopher Lee, MSE, PhD, COO, and Co-Founder of InfiniteMD. “Over the past few years, we have refined the InfiniteMD platform, established formal partnerships with the nation’s leading medical centers, and optimized the most user-friendly experience for both patients and expert physicians. By joining forces, we’re creating the strongest and most comprehensive offering in the delivery of decision-support via digital health.”
Eighty-three digital health companies were acquired in the first half (1H) of 2020, according to Mercom’s 1H 2020 Digital Health Funding and M&A Report. Eight telemedicine companies were acquired during 1H. Teladoc Health, a telemedicine company, agreed to acquire InTouch Health, a telehealth solution provider for hospitals and health systems, for $600 million. HealthHero, a London-based telehealth company, acquired the Berlin-based Fernarzt.com, which offers users online consultations. Backed by investment house Marcol, HealthHero will initially operate in Germany, Ireland, and the U.K.
Image Credit: InfiniteMD