Digital therapeutics (DTx) firm Sidekick Health is scaling its prescription digital therapeutic (PDT) platform with the acquisition of PINK!, a Germany-based PDT company specialised in breast cancer therapy.
PINK! coach is the only digital application for breast cancer within Germany’s regulated nationwide DiGA (Digitale Gesundheitsanwendungen) formulary. The digital coach was developed in 2020 by gynecologist Pia Wülfing to address the psychological, psychosomatic, and physical effects of breast cancer.
Sidekick co-founder and CEO Tryggvi Thorgeirsson announced the acquisition during the HLTH Europe 2024 conference being held in Amsterdam from June 17-20. Speaking to Medical Device Network, Thorgeirsson said the acquisition strengthened Sidekick's position in the DTx market.
“When I founded the company, I always had in mind that I wanted to develop and deliver therapies that are delivered digitally but handled just like you would with a prescription medication,” said Thorgeirsson.
“I want to see digital therapies that are high quality, evidence based, clinically validated, prescribed by doctors, and reimbursed by payers. The DTx market is growing fast and PINK! has the only permanently listed prescription digital therapeutic on the market for breast cancer. It is a great fit for our portfolio and there’s a lot of synergies where we can use all the marketing channels we already have in place to expand Sidekick's growth.”
Sidekick has been expanding rapidly and currently works with five of the world's twenty largest healthcare companies. In October 2023, the Icelandic company acquired aidhere, the developer of weight management app zanadio which has over 75,000 prescriptions.
“The acquisition of aidhere has gone really well," added Thorgeirsson. "The teams are integrated, and we are leveraging strengths on both sides and seeing strong organic growth. We are now looking to launch two new additional products and overall, we continue to see healthy growth in the DiGA market.”
HLTH Europe is taking place from June 17-20 in Amsterdam.
