AddLife has taken another step in strengthening its position in digital health by today signing an agreement to acquire Telia Health Monitoring to add to its Medtech business area. Telia Health Monitoring develop and provides a digital platform solution that enables self-monitoring by patients with chronic diseases. The business, with sales of SEK 4m, and its eight employees, will be integrated into Camanio, which was acquired earlier in December 2021. Completion is expected to take place in the first quarter of 2022.
The acquisition of Telia Health Monitoring adds a further piece in AddLife's digital strategy and strengthens its ability to be a key stakeholder in the development of digital health and care services. Currently, the business has agreements with both private care providers and regions in Sweden. A total of around 1,000 patients are connected to the solution, which is scalable and can handle a growing number of patients and their unique needs.
The solution can currently be used for a number of chronic diseases, such as heart disease, hypertension, COPD, diabetes, IBD and is also developed for self-monitoring within specialist maternity care. By combining the digital care platform from Camanio with Telias Health Monitoring solution, several benefits are offered for individual centred care and nursing. Around 45% of people in Sweden are estimated to have at least one chronic disease, and the costs of caring for chronic patients amount to around 80% of total healthcare costs, according to the Swedish Agency for Health and Care Services Analysis. Digital tools enable continuous and more efficient care as a result of closer communication with the care provider and more personalised treatment. At the same time, they give patients a greater sense of security, freedom and quality of life in everyday life.
Kristina Willgård, CEO of AddLife, comments: "Our vision is to improve people's lives and we see a major societal challenge in the healthcare sector, with a growing and increasingly elderly population with chronic diseases. Digital care and better data support can both improve the quality of life for patients and are essential for improving the quality and efficiency of care. By combining the digital care platform from Camanio with Telia's Health Monitoring solution we have great opportunities to support care providers in the development of the digital care."
"We are delighted to have found a new home for Telia Health Monitoring at AddLife. AddLife is a specialised life science company that shares our vision of improving people's lives. It understands the value of the strong position in remote health monitoring that we have developed and maintained over a number of years. With its portfolio, entrepreneurial approach and European presence, we believe that AddLife is uniquely positioned to take this business to the next level," says Brendan Ives, Manager of Division X at Telia Company.
Stockholm, 20 December 2021
AddLife AB (publ)
For further information, please contact
Kristina Willgård, CEO, AddLife AB, +46 (0)705 10 12 23
Martin Almgren, Business Area Manager Medtech and CFO, AddLife AB, +46 (0)702 28 15 45
AddLife is an independent European player in Life Science that offers high-quality products, services and consulting to both the private and public sectors. AddLife has about 1,800 employees in around 70 operating subsidiaries, which operate under their own brands. The Group has annual sales of approximately SEK 7.5 billion. AddLife is listed on the NASDAQ Stockholm stock exchange.
This information was issued for publication on 20 December 2021 at 11:00 CET.
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