Biofourmis Singapore Pte. Ltd, a digital therapeutics firm, said on Tuesday it has acquired Switzerland-based wearable biosensor platform Biovotion AG.
Biofourmis said in a statement the acquisition will help the company offer proprietary, clinical-grade wearables as part of its FDA-cleared Biovitals Analytics Engine, which constitutes an artificial intelligence (AI)-powered health analytics ecosystem that predicts clinical diseases in advance.
The transaction involves the acquisition of Biovotion's wearable device Everion® along with more than 60 global patents.
The next version of Everion® is already under development and will have the ability to capture additional vital parameters, including continuous blood pressure trends.
Biovotion's entire team will be incorporated into Biofourmis under the name “Biofourmis AG” in Zürich, Switzerland.
The acquisition of Biovotion comes after Biofourmis in May raised $35 million in a Series B funding round co-led by venture capital firm Sequoia Capital India and the US-based MassMutual Ventures.
Biofourmis, which was founded in 2015 by Kuldeep Singh Rajput and Wendou Niu, uses its proprietary artificial intelligence-powered platform to help treat and manage chronic conditions and provide patients with at-home monitoring solutions and personalised analytics.
The company says its products have been used by clients such as the Massachusetts General Hospital and the National Heart Centre Singapore.
Separately, Biofourmis said it has partnered with global healthcare firm Novartis. As part of the partnership, Novartis will use Biofourmis’ lead digital therapeutics product to remotely manage patients with heart failure across Asia.