Israeli Company Healthy.io Acquires Its American Competitor, Inui Health
CTech – Israeli Medtech company Healthy.io has acquired its US competitor, Inui Health, in a $9 million cash deal. The details of the transaction were published on CNBC and confirmed to Calcalist by the company.
Healthy.io has developed a kit for home urine testing using image processing via a smartphone, without the need for a physical visit to a laboratory. The company’s technology detects a host of infections, chronic illnesses, and pregnancy complications. The mobile phone camera scans the cane provided by the company, and a dedicated machine vision-based app analyzes the scan results and provides instant diagnoses. The company has been FDA approved since 2018.
The CEO of Inui Health will join the Israeli company following the acquisition and the American company will continue to operate from its West Coast offices. The acquisition will help Healthy.io accelerate its efforts in the US market.
Healthy.io was founded in 2013 by Jonathan Adairi and has raised $93 million to date, $60 million of which are from a round C investment in September 2019. Among the investors are Corner Ventures, Joy Capital Ventures, Ansonia Holdings, Alf Fund, and Samsung Next.