Sciensus, a UK based pharma supply company, has successfully acquired Vinehealth, a cancer patient support app, signalling a strategic move to expand its digital health offerings.
Why it's notable:
The Vinehealth App is designed for oncology patients, and allows users to track and report symptoms of disease progression in real time. It enables sharing of data with clinicians which aims to support clinicians in providing decision support and assistance with treatment management. It also enables medication management, appointment reminders and care team communication for the patient. With this acquisition, Sciensus expands its already impressive portfolio of remote monitoring and telehealth solutions, covering a whopping 50 therapeutic areas and serving 250,000 chronic, rare, and cancer patients.
The app is approved for use in the EU, UK and US, so this acquisition provides an opportunity for Sciensus to broaden its reach geographically, expanding into new markets where the app is approved for use. The acquisition is not just advantageous for Sciensus alone; it also benefits Vinehealth. By leveraging Sciensus' patient network and establishing relationships with prominent pharmaceutical companies and healthcare practitioners, Vinehealth gains a competitive advantage in the industry. Pharma partners will be able to leverage patient data captured to understand how they are responding to treatment.
Point of View:
Sciensus has invested heavily over the last few years to build an integrated portfolio of powerful patient engagement and real world evidence solutions to enhance patient connectivity and insight. Centred on the Sciensus InTouch app, these tools support more personalised care and enhanced patient outcomes, while providing real world data on treatment response for researchers in the pharmaceutical industry.
Looking at the broader landscape, the telehealth app market witnessed a $2 billion valuation in 2020, it is projected to surge to $5 billion by 2024 and reach an estimated $12 billion by 2030, according to a GlobalData report. This acquisition highlights the continued value of remote monitoring and telehealth technologies for the pharmaceutical industry, and a growing interest in these technologies' application in oncology. This move positions Sciensus strategically within this market space, presenting a valuable offering for pharma and healthcare partners interested in remote monitoring for oncology.
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