Teva Pharmaceutical Industries Ltd. and Gecko Health Innovations said late last week that they have entered into a definitive agreement in which Teva will acquire Gecko.
Gecko Health Innovations is a privately held company focused on developing software and product solutions to assist in compliance and adherence improvement in the management of respiratory diseases.
“The acquisition of Gecko Health Innovations further enhances Teva’s ability to develop and deliver truly patient-centered solutions by utilizing eConnected, data-driven technology to improve the management of respiratory diseases,” Dr. Rob Koremans, president and CEO of Teva Global Specialty Medicines, said.
With the acquisition, Teva will acquire CareTRx, a novel cloud-based solution developed by Gecko Health Innovations that simplifies chronic respiratory disease management through connecting patients and caregivers with remote monitoring and real-time adherence tools.
“During the last three years, we have designed and built a system to support respiratory disease management by intuitively connecting caregivers, patients and families,” Yechiel Engelhard, CEO and co-founder of Gecko Health Innovations, said. “In founding Gecko Health Innovations, our vision was to connect chronic medication management into one platform, leveraging this information to support and empower patients by partnering with leading players in the health care and pharmaceutical industries. We are very excited to realize this vision as it aligns to Teva’s focus on innovative patient solutions.”