Brookfield-based health technology startup healthIO has been acquired by Seattle-based actuarial and consulting firm Milliman Inc.
healthIO, which was founded in 2016 by president and CEO Sanjay Mohan, developed a health monitoring platform that uses IoT, big data and AI to predict adverse health care events and progression of chronic conditions.
The platform, which includes a health-tracking app and data collected from medical devices, is designed to help users manage their health while allowing their physician to intervene and deliver care more proactively.
Milliman announced this week it will launch Milliman healthIO, a combination of the firm’s predictive health analytics and healthIO’s preventive health technology. The platform will be available to self-insured employers and value-based providers, Milliman said.
Milliman said the platform has strong synergy with its predictive analytics capabilities to target individuals who are rising in risk or high-risk.
“We couldn’t be more excited about acquiring healthIO,” said Brian Studebaker, Milliman principal. “We have seen the raw potential of this model. We anticipate steady expansion as the word gets out about the dramatic impact preventive health can have on any organization’s bottom line.”
Mohan will continue as managing director of the new Milliman healthIO business unit.
“We are extremely excited to be a part of Milliman and to be able to leverage the synergies with their world class data science and actuarial capabilities to better target and deploy our preventive solutions,” Mohan said. “This is really a perfect match – employers and value-based providers will benefit from the combined power of our solution to lower costs and improve health outcomes.”
In 2018, healthIO entered a partnership with GE Healthcare, through which the GE subsidiary’s electrocardiogram algorithm was integrated into the healthIO app to provide ECG interpretation to home users.
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