San Francisco-based digital healthcare company Omada Health has extended its portfolio with the purchase of Physera, a company that delivers physical therapy interventions digitally and via telehealth. Its offering includes video access to a nationwide network of licensed physical therapists for diagnosis and treatment, as well as in-application animations, voice prompts, digital exercise therapy, and other guidance designed to reduce musculoskeletal pain.
Omada is adding Physera's musculoskeletal solution to its suite of programs for the prevention and self-management of diabetes, hypertension, and mental health. Omada combines professional health coaching, connected health devices, real-time data and personalized feedback to deliver clinically meaningful results. The company is the largest CDC-recognized provider of the National Diabetes Prevention Program.
"Integrating a digital physical therapy solution better equips Omada to meet the pressing needs of the current moment, and accelerates our progression towards a fully integrated care experience to address the needs of our partners and participants," said Omada CEO and co-founder Sean Duffy, in a statement. "We've long believed that human-led digital care should be the first option for those dealing with chronic conditions, mental health issues, and a host of other needs. Today's announcement positions us to deliver true whole-person care, and true value, better than any other digital health company."
More than 75 percent of patients with Type 2 diabetes or obesity report having at least one joint mobility issue, making Physera's musculoskeletal capabilities a natural addition to Omada's chronic disease program, the company noted.
Physera is available through employers and health plans, as well as directly to consumers. Through the Physera Physical Therapy Group, the company assembled a national roster of licensed physical therapy specialists who, empowered by technology, deliver personalized care pathways for their users with a wide range of joint mobility issues.
In a blog post on its website, Omada noted that Physera’s approach is “a mirror image of the model that Omada has deployed across our chronic care and mental health programs, utilizing qualified coaches and licensed specialists empowered by our proprietary technology and coaching platform.”
The purchase price was not disclosed. In conjunction with the acquisition, Omada raised $57 million in an additional round of growth capital from Perceptive Advisors, life sciences investment firm, to finance the deal and support future company growth.
