CHICAGO--(BUSINESS WIRE)-- Teva Pharmaceutical Industries Ltd. announced on September 25 it has acquired Gecko Health Innovations, Inc. (“Gecko”), a Healthbox-backed and privately-held company focused on developing software and product solutions to simplify chronic respiratory disease management.
Gecko is a Healthbox portfolio company and participated in the Healthbox Boston accelerator program in 2012. Lead strategic partner BlueCross BlueShield of Massachusetts’ Zaffre Investments as well as several other Boston based organizations supported Healthbox Boston. As part of the accelerator, Gecko received seed capital, access to a mentor network of industry experts and strategic guidance to drive the successful refinement of its business model and strategy. Following the accelerator program, Healthbox and its partners continued to provide Gecko with support to scale.
Healthbox Founder and CEO, Nina Nashif, commented, “We are thrilled to have fueled the growth of Gecko since their founding in 2012 and look forward to seeing how Teva will further optimize respiratory care by utilizing Gecko’s innovative solution.”
Tuoyo Louis, Zaffre Investments Managing Director, noted, “Gecko’s real-time adherence tools are transforming respiratory disease management, and we are proud to have supported Gecko’s growth.”
Through the agreement, Teva will acquire CareTRx™, a novel cloud-based solution developed by Gecko, designed to simplify chronic respiratory disease management, connecting patients and caregivers through remote monitoring and real-time adherence tools. Together with Gecko founders, Mark Maalouf and Dr. Yechiel Engelhard, Teva will explore innovative ways to apply the CareTRx technology to its robust pipeline and portfolio of respiratory products with the goal of enhancing clinical outcomes for patients. CareTRx is a solution comprised of a hardware device which attaches to most metered-dose inhalers (MDIs) as well as a software program which synchronizes and stores data through an app-based user interface.
“During the last three years, we have designed and built a system to support respiratory disease management by intuitively connecting caregivers, patients, and families,” said Dr. Yechiel Engelhard, Founder and Former CEO of Gecko Health Innovations. “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 healthcare and pharmaceutical industries. We are very excited to realize this vision as it aligns to Teva’s focus on innovative patient solutions.”
Healthbox (www.healthbox.com) is the preeminent source of healthcare innovation and drives actionable collaboration between inventors, entrepreneurs and the healthcare industry. Healthbox Studio programs offer serious entrepreneurs the candid, unparalleled healthcare industry access and insight needed to succeed in a complex marketplace. Healthbox also partners with leading healthcare organizations to advance a culture of idea generation, business creation and external collaboration. With operations in Boston, Chicago, Florida, Salt Lake City, London and Tel Aviv, Healthbox is building a strong, global community dedicated to driving change in healthcare. Healthbox has a portfolio of more than 75 active companies and strategic partnerships with more than 30 healthcare organizations.
About Gecko Health Innovations
Gecko Health Innovations, founded in 2012 in Cambridge, MA, is a connected health company creating smart solutions that help patients better manage chronic medical conditions while bringing together real data and clinical knowledge. With an initial focus on asthma and COPD, the company has designed and built hardware and software solutions to collect and present valuable data in a reliable, comprehensive, and intuitive way, using behavioral tools to promote better disease management. In 2013, Gecko introduced GeckoCap™ and in 2015 CareTRx™ (pronounced care-tracks), a cloud-based solution designed to simplify chronic respiratory disease management, connecting patients and caregivers through remote monitoring and real-time adherence tools.
About Zaffre Investments
Zaffre Investments, LLC is a wholly-owned subsidiary of Blue Cross Blue Shield of Massachusetts that is committed to adding value through investments in new products, services and technologies that aim to improve the way healthcare is delivered and received. Zaffre focuses on companies across the healthcare landscape, with a primary focus on ACOs, consumer solutions, health information technology, and behavioral health. The firm is stage agnostic, considering a company’s financial and market positions, capabilities, and core values, as well as their missions and visions for the future. Zaffre employs a true partnership model for its portfolio companies, providing strategic direction, business support, industry connections and more.