It’s been announced that Axial Exchange, a health IT startup that provides post-discharge mobile solutions, has acquired the mRemedy suite of mobile app products — developed in-house by the Mayo Clinic.
The mRemedy suite, and particularly its myTality patient-facing mobile healthcare application, help patients navigate a future hospital visit, as well as helps hospitals better market their services. Axial will use the myTality suite as the patient-facing complement to Axial’s award-winning care transition products including Axial Patient and Axial Provider, which support transition of care from the hospital to home. Canaan Partners, Axial’s lead venture capital investor, and Mayo Clinic both invested in Axial Exchange to complete the deal, according to a joint announcement.
Being developed by the Mayo Clinic, the acquisition agreement also provides Axial Exchange with access to consumer content from MayoClinic.com, which offers patients reliable health information from one of the world’s most respected healthcare providers. This content will be incorporated into Axial’s current patient-facing products, as well as in future Axial offerings. The health information licensed to Axial includes detailed information on nearly 1,000 conditions and diseases.
Mayo developed the system over the past three years with vendor DoApp, and last year won the Office of the National Coordinator for Health IT’s “Ensuring Safe Transitions from Hospital to Home” mobile app contest for the product. As part of the deal, four Mayo physicians will also join Axial’s advisory board to continue development of the product suite. Terms of the deal weren’t disclosed, but it was reported that Axial’s primary investor, Canaan Partners, upped its investment in the company along with the acquisition.