Finnish health data science startup Kaiku Health joins Swedish stock listed company Elekta (EKTA-B.ST) as it was announced that the deal took effect May 15, 2020 with Elekta acquiring 100 percent of Kaiku Health shares from the founders and investors which include Tesi (Finnish Industry Investment), Debiopharm Innovation Fund, Prodeko Ventures and early investors Reaktor Ventures, Metsola Ventures and Athensmed.
The Finnish company which raised Series A round of €4.4m two years ago is best known for its app that monitors patient-reported outcomes, providing intelligent symptom tracking and management for healthcare providers in routine oncology care and studies. In 2016 we covered their seed round when the company had it’s original name NetMedi.
Lauri Sippola, Kaiku Health CEO and Co-Founder says: “This is a very exciting step for Kaiku Health, but also for Elekta’s network of thousands of customers. Together we will continue to develop personalized digital interventions in order to help improve the lives of cancer patients globally. Measuring what matters to patients is paramount in value-based healthcare and it will benefit patients, healthcare providers and society.”
The Kaiku Health app screens for patients’ symptoms, notifies the care team on their development and provides value-based personalized support for patients. It is easily implemented into existing hospital information systems and can be integrated with Elekta’s MOSAIQ® Oncology Information System (OIS). This makes Kaiku Health a valuable tool for healthcare teams to collate patient-recorded feedback and act immediately if anything unusual is reported.
Richard Hausmann, Elekta President and CEO, adds: “Including intelligent patient-monitoring software in the Elekta portfolio supports the company’s oncology informatics strategy. This is a concrete step towards expanding our digital portfolio to further digitally connect our two most important stakeholders: our customers and their patients. Kaiku Health’s solution has demonstrated it can improve quality of life and reduce costs of healthcare.”
Founded at 2012, Kaiku Health has modules for more than 25 types of cancer across different cancer care pathways. It is currently in use in over 40 European cancer clinics and hospitals. 2019 the company had €1,3m in revenue and 35 employees.