Axial Exchange is buying a Mayo Clinic backed mobile healthcare startup.
At the same time, Axial gained further investment from its venture capital backer as well as Mayo Clinic.
The Raleigh-based firm said Thursday it has acquired mRemedy, which launched in 2009.
Mayo Clinic and DoApp launched mRemedy to provide a mobile healthcare platform for providers.
With the deal, Axial says it acquires technology, customers – and intellectual capital.
Four Mayo Clinic physicians will join Axial’s advisory board.
Financial terms were not disclosed.
“Axial Exchange is honored to have Mayo Clinic participation on our advisory board, one of the world’s leading healthcare institutions,” said Joanne Rohde, CEO of Axial Exchange, in a statement. “We are committed to engaging patients in their own care, and making sure that their circle of support has access to timely and personalized information to help get better faster. With 20 percent of patients discharged from our hospitals being readmitted within 30 days, our nation has lots of room for improvement. We owe it to patients and the professional healthcare community to start harnessing technology that can help them.”
Mayo Clinic Drs. Paul Takahashi and Nathan Jacobson are among the four advisory board members. They have a financial stake in mRemedy.
mRemedy offerings include myTality, which is designed to help patients plan hospital visits.
Axial says it will incorporate the myTality offerings into its own offerings Axial Patient and Axial Provider.
Axial is backed by venture capital investor Canaan Partners, which increased its investment in Axial as part of the deal. The amount was not disclosed.
In late 2011, Axial said it was raising $1 million, according to an SEC filing.
Mayo Clinic also became an investor in Axial.
Axial provides a “dashboard” to link patient data across hospitals, physicians and healthcare plans.
