Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) has entered into a definitive agreement to acquire Gecko Health Innovations Inc. Based in Cambridge, Massachusetts, Gecko is a privately-held company, which develops software and product solutions to aid in compliance and adherence improvement in the management of respiratory diseases. No financial details about the acquisition were disclosed.
Through the agreement, Teva will acquire CareTR, a cloud-based solution developed by Gecko Health Innovations, designed to simplify chronic respiratory disease management, connecting patients and caregivers through remote monitoring and real-time adherence tools.
Teva president of global R&D and Chief Scientific Officer Dr. Michael Hayden said, “Teva is committed to optimizing respiratory care through the development of new therapies and novel delivery systems to better serve patients living with respiratory conditions."
Teva Global Specialty Medicines president and CEO Rob Koremans said, “The acquisition of Gecko Health Innovations further enhances Teva’s ability to develop and deliver truly patient-centered solutions by utilizing eConnected, data-driven technology to improve the management of respiratory diseases."
Together with Gecko Health Innovations founders, Mark Maalouf and Dr. Yechiel Engelhard, Teva will explore innovative ways to apply the CareTRx technology to its pipeline and portfolio of respiratory products to enhance clinical outcomes for patients. CareTRx is a solution comprised of a hardware device which attaches to most metered-dose inhalers (MDIs) as well as a software program which synchronizes and stores data through an app-based user interface.
Gecko CEO and founder Engelhard said, “During the last three years, we have designed and built a system to support respiratory disease management by intuitively connecting caregivers, patients, and families. In founding Gecko Health Innovations, our vision was to connect chronic medication management into one platform, leveraging this information to support and empower patients by partnering with leading players in the healthcare and pharmaceutical industries. We are very excited to realize this vision as it aligns to Teva’s focus on innovative patient solutions.”
Published by Globes [online], Israel business news - www.globes-online.com - on September 25, 2015
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