Kilo Health, a digital health and wellness company, in just a few months acquired 3 health tech startups to strengthen AI and mental health capabilities.
Vilnius, Lithuania, Sept. 08, 2021 (GLOBE NEWSWIRE) -- Kilo Health, one of the world's leading digital health and wellness companies, is integrating data-driven solutions, services, and in-house medical devices to create an all-encompassing health and wellness ecosystem. To achieve that, the group is developing its own products and consolidating its position in the digital health market by buying other startups.
“Traditional healthcare systems tended to be slow-moving and resistant to innovation. But today we are one step away from a tectonic shift in the health and wellness market. Data is being democratized, integrations with state digital health platforms are being created, and new sensors let us converge the physical and digital worlds to get the best of both. It's a new industry being born," says Tadas Burgaila, CEO of Kilo Health. "I believe health tech companies have the potential to revamp a traditional industry, and in the process, save lives or prevent serious illnesses which could simply be avoided."
In just a few months, Kilo Health bought three health tech startups with a lot of potentials and a quickly growing customer base: Medical Score, Revolab, and Tyler.
The latter is developing a continuous glucose monitoring (CGM) system that consists of an in-house sensor and an app that records blood glucose levels in real-time and the body's reactions to food and physical activity. The data obtained from the sensor helps to prepare individual recommendations for each person about their eating, sports, or sleeping habits, and the influence of these factors on metabolism.
According to Tyler, the financial injection will allow the startup to start producing glucose monitoring sensors and accelerate the development of the software required.
The global market for glucose monitoring devices alone is projected to exceed $16 billion by 2027. Experts say this is due to an increasingly pronounced shift in the healthcare sector from a one-size-fits-all to a personalized and data-driven approach.
Revolab is a remote testing service. Revolab app users can select the test they want on their smartphone with just a few clicks and order tools that allow them to take the substances needed for the test themselves (blood, saliva, or urine). Later, the collected samples are handed over to the courier and the person waits for the results on their phone.
For example, Revolab can perform the COVID-19 test without leaving home. It is also possible to do COVID-19 antibody tests or general blood tests, monitor cholesterol or diabetes, perform hormone tests, and others.
The pandemic has stimulated demand for this kind of remote service.
The latest and biggest acquisition for Kilo Health is Medical Score.
One of the apps Medical Score is developing helps people take care of their mental health and increases the availability of psychological counseling. Therapists can be consulted at any time when needed and, most importantly, anonymously, without disclosing data about themselves. It is currently being successfully tested in the U.S. market.
The other important challenge Medical Score is tackling, is a faster and more accurate diagnosis, avoiding an unnecessary visit to a medical institution. The product in development will combine several different sources of information utilizing artificial intelligence: a huge database of diseases developed by scientists and doctors, information on the ailments a particular person is suffering, and certain indicators of their health and lifestyle, for example: sleep quality, physical activity, heart rate, etc.
Kilo Health Group
Kilo Health (UAB Kilo grupe) is one of the leading digital health and wellness companies globally, that not only attracts talent to join its fast-growing team but also co-founds and accelerates start-ups in a rapidly growing digital health industry.
With 4+ million paying users worldwide (the majority in the United States), strong technology, and a digital marketing platform, Kilo Health provides unparalleled opportunities for entrepreneurial talents and visionaries to build digital health products of the future.
Kilo Health was founded to design the most engaging and effective digital lifestyle interventions that lead to a healthier life by preventing, managing, or treating various health conditions.
Continuously seeking new opportunities, co-founding, and accelerating prospective next-gen products, Kilo Health has grown from 7 to 500 bright talents in three years and aims to become the most-loved digital health and wellness product suite globally.
For orignal news story, please visit https://www.prdistribution.com/news/kilo-health-is-creating-a-digital-health-tech-hub-2.html
Attachments
- „Tyler“ team from right Ignas Survila, Tadas Burgaila (Kilo Health founder) & Edvinas Baublys
- CEO Kilo Health Tadas Burgaila
- Sample notification on nutrition(Tyler from Kilo Health)
- Sample notification on resting (Tyler from Kilo Health)
- Scan with your phone and see blood pressure (Tyler from Hilo Health) with your phone
- Scanning process (Tyler from Kilo Health)
