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Digital musculoskeletal care firm Sword buys rival Kaia
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pharmaphorum
US digital physical therapy specialist Sword Health has bought its competitor Kaia Health for $285 million, positioning it for expansion in Europe.
Kaia was originally set up in Germany, with headquarters in Munich, and has already secured reimbursement for its MSK offering through the country's digital health reimbursement pathway, which covers more than 70 million people.
In a statement, Sword chief executive Virgilio Bento said that combining with Kaia will "accelerate our already rapid growth in the US while also opening Germany as a major new market."
The combined company will have a reach of more than 100 million people.
Both companies have secondary businesses outside of the MSK arena, so the combined company will also have an extended presence across digital health technologies (DHTs).