Axial Exchange acquires Mayo Clinic mobile platform mRemedy
Axial Exchange Inc. announced Thursday that it has acquired mRemedy, a mobile healthcare platform founded by Mayo Clinic and Minneapolis-based DoApp.
Officials say the acquisition will give Axial Exchange the software, pipeline and customers of the myTality patient-facing mobile healthcare application, which helps patients navigate a future hospital visit, and helps hospitals better market their services. Axial will use the myTality suite as the patient-facing complement to its care transition products, Axial Patient and Axial Provider.
[See also: Axial Exchange tops for patient transfer technology.]
The deal also provides Axial Exchange with access to consumer content from MayoClinic.com. 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.
Canaan Partners, Axial’s lead venture capital investor, and Mayo Clinic both invested in Axial Exchange to complete the deal, officials say. In addition, four Mayo Clinic physicians will join Axial’s advisory board and bring their expertise to the ongoing development of Axial’s solutions. These include Paul Y. Takahashi, MD, Nathan Jacobson, DO and two others to be named.
“Patients and their families want and expect the most up-to-date information about life, health, disease and treatment,” said Takahashi, associate professor of medicine at Mayo Clinic, an expert in the field of geriatric and internal medicine. “Mayo Clinic’s health information content will now reach even more people, providing accurate answers to common and uncommon health issues.”
“This is a case where one plus one definitely equals three,” added Stephen Bloch, MD, general partner at Canaan Partners. “Integrating a patient’s personalized care plan into a hospital’s mobile portal was the logical next step to allow hospitals to offer end-to-end patient care. Having Mayo Clinic on the Axial Advisory Board will augment our philosophy of offering the gold standard in patient engagement.”
Axial’s solutions won first prize in the U.S. Department of Health and Human Services’ Partnership for Patients Initiative innovation competition, run by Office of the National Coordinator’s (ONC), on “Ensuring Safe Transitions From Hospital to Home.”
The myTality acquisition will accelerate the firm's move into mobile healthcare and will enable Axial to more quickly scale to large numbers of mobile patient-customers – while interconnecting patient’s care plans and discharge information, and providing added patient engagement in the goal of reducing readmissions, officials say.