UK startup Medopad has acquired Silicon Valley health company Sherbit
- British health tech startup Medopad has acquired Silicon Valley data firm Sherbit for an undisclosed sum, as part of its US expansion.
- Medopad was founded in 2011, and helps hospitals and patients track long-term conditions.
- Sherbit's CEO and team will now focus on bringing Medopad's technology into US teaching hospitals.
- Medopad is planning to close a $120 million funding round this year.
British health tech startup Medopad has bought Silicon Valley health data service Sherbit for an undisclosed sum as part of its expansion to the US.
Sherbit's CEO, team, and advisory board will join Medopad and focus on bringing its technology into teaching hospitals around the US.Medopad CEO Dan Vahdat said in a statement: "Sherbit has a strong track record of success working with some of the most prestigious healthcare organisations in the US, including the Mayo Clinic, Tufts Medical Center and Jefferson Health.
"Through this acquisition, Medopad will provide its technology to support solutions across different disease areas from rare diseases to chronic conditions."
Medopad is a digital health startup that tracks patients with long-term illnesses and already has deals with British hospitals including the Royal Free, Guy's and St. Thomas', and St. Bartholomew's. It also has $140 million in deals from Chinese internet giant Tencent, and is planning to close a major Series A round of $120 million (£86.4 million) in funding this year.
Sherbit is headquartered in San Francisco, and started life as a data visualisation company which showed users a wide range of metrics about their online activity, such as whether their Twitter or Instagram posts were getting more likes.
After 2016, the company seems to have narrowed its focus to quantified health. According to its site, Sherbit combines data from a patient's devices and wearables into a single dashboard. That dashboard lets patients monitor areas like their sleep levels and general fitness, and offers insights into how they can become more healthy.
Medopad has expanded at a rapid clip this year, establishing not only its partnerships and operations in China, but also opening two New York offices. Dan Vahdat told Business Insider that Medopad would boost its US team to around 30 people in the next 18 months.The company said it had intentionally not raised money from venture capitalists, instead winning backing from NWS Holdings, a construction group and part of property giant New World Development.
Vahdat said Medopad will announce the first fruits of its partnership in Tencent in October. The company has signed a deal with Chinese medical examination firm Ciming, and has another major Chinese deal in the works, Vahdat added.