McMaster University

McMaster University

Faculty of
Health Sciences

CareKit Health is acquired by Moseda Technologies

Published: February 22, 2016

Hamilton startup CareKit Health Corp. ("CareKit") has been acquired by British Columbia-based Moseda Technologies Inc. (TSX VENTURE: MSD).

The deal will bring together Moseda, an established technology company working to develop mobile health solutions, with the up-and-coming CareKit, which has built an innovative new platform for home healthcare.

The CareKit platform is designed to provide healthcare providers and families with real-time access to patient data collected in the home. The data will be collected via wearables, sensors, and a proprietary voice technology hub, with the goal of reducing emergency room visits and hospital readmissions by facilitating early intervention if a patient's health status becomes unstable.

"CareKit Health is a young company but we have already secured contracts in the US, Canada and the UK," said Giancarlo De Lio, CEO of CareKit Health. "Joining Moseda will give us the ability to rapidly increase our global presence and we are excited about the increased value our combined technology portfolios and talent will provide to our customers."

Hamilton roots

Leo Godreault founded CareKit in Hamilton, and moved into The Forge — the city's startup incubator partnership between McMaster University and Innovation Factory—in September 2015. Both Giancarlo and Leo are experienced entrepreneurs with strong backgrounds in Information Technology and healthcare. Godreault is a graduate of the joint BScN program offered by McMaster University and Mohawk College.

"We are very proud of the CareKit team, and are pleased to see them going public on the TSX Venture Exchange, in our first go-public exit. This is great news for The Forge and for Hamilton," said Monika Yazdanian, Director of The Forge.

Acquisition details

Moseda acquired CareKit for $2 Million in Moseda shares and performance warrants. The company has a market cap of $8.8 million, as of February 10th, 2016.

"We are excited to be bringing CareKit Health's team, technology, products and customer pipeline into Moseda," said Dr. Lisa Crossley, CEO of Moseda. "CareKit's focus on using technology to provide cost effective, high quality in-home healthcare fits perfectly with Moseda's strategic focus on the Community Care market, which is expected to reach $43 Billion globally by 2019."

As part of the agreement, Giancarlo De Lio has been named Chief Visionary Officer at Moseda and Leo Godreault is the company's new Vice President, Products.

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