Digital health chatbot Babylon announced its plans to buy patient engagement tool DayToDay for an undisclosed sum. This news comes just weeks after the U.K.-based startup wrapped up its acquisition of health kiosk company Higi.
Boston-based DayToDay is focused on guiding patients through their healthcare journey. Patients can use the platform to tap into educational materials before or after surgery, a clinical visit or hospitalization. The platform also connects patients to clinical support from a care team.
Babylon plans to roll DayToDay’s capabilities into its digital platform to help members who are preparing or recovering from a medical intervention.
“Joining Babylon will empower DayToDay to scale its robust platform to clinical areas by deploying its proven platform to the Babylon customer base,” Prem Sharma, CEO of DayToDay Health, said in a statement. “Working together, we can tap into Babylon’s AI capabilities and improve the virtual care experience for both patients and providers alike.”
WHY IT MATTERS
Mergers and acquisitions continue to be a popular exit option among digital health companies. Rock Health reports that in the first three quarters of 2021 there were 216 digital health M&As.
In addition to digital companies like Higi and DayToDay, Babylon has its eyes on provider organizations. Last year it acquired California-based medical group Novato, as well First Choice Medical Group’s Fresno and Madera operations.
THE LARGER TREND
Babylon got its start in the U.K. market, but has quickly grown its geographical footprint. In 2019, the company announced its plans to launch in the U.S. market. The company has also worked in Canada.
In 2019, it launched its chatbot in British Columbia. In 2021, it sold off its operation in Canada to its former partner Telus Health in a licensing deal worth roughly $70 million.
The company has a long history working with the Rwandan government. In March 2020, the company signed a 10-year partnership with the Rwandan government giving every person over the age of 12 access to digital health consultations.
The company announced its plans to go public last summer through a SPAC merger with Alkuri Global Acquisitions in a deal worth roughly $4.2 billion.