IBM to acquire Truven Health Analytics

IBM announced its intent to buy Truven Health Analytics for a whopping $2.6 Million. It is the fourth major purchase for Watson health since the unit was established in 2014. Watson Health was formed when IBM purchased Phytel and Explorys in April 2014. Both companies had the common denominator of being data driven health companies.

The unit added Merge Healthcare for another billion dollars last August to give the company access to a huge store of imaging data. With this purchase, IBM gets access to Truven Cloud based data repository, 2500 employees and 8500 clients, including US Federal and state government agencies, employers, health plans, hospitals, clinicians, and life science companies.

The Truven data will be integrated with Watson data, used to identify health cost savings, improve healthcare outcomes, fight fraud and make operations more efficient. With this acquisition, IBM will be world’s leading health data, analytics and insights company. Truven was previously acquired by Veritas Capital Management Fund LLC from Thomson Reuters Corp for $1.25 Billion in 2012.  

Housejoy buys fitness startup Orobind

Amazon backed home services provider, Housejoy, has acquired Orobind, an at-home personal fitness startup, in an all-stock deal as it looks to grow its presence in the fast growing health and wellness space.

The acquisition of Orobind is the second such deal Housejoy is closing in less than a month’s time, spurred by the $23 Million funding round the company closed in December which was led by Amazon. While the exact terms of the deal have not been disclosed, most of the team at Orobind will join Housejoy.

Orobind, which currently operates exclusively in Bengaluru, has over 1000 customers and 135 active fitness trainers on its platform. The acquisition will help Housejoy scale its own personal fitness business which it currently offers in 5 cities across India with 5,000 subscribers. Fitness and wellness is a highly lucrative category for most of the home services players primarily because of high repeat rates and high customer lifetime, value but to leverage it one must have a highly differentiated product.

Rather than looking to expand its offerings to more cities in the country, Housejoy plans to consolidate its business and dwell deeper into each business vertical in each of the cities it’s already present in. The company currently aggregates service providers for pest control, drivers, beauty, electronic repairs etc. and is building its own presence in high-demand categories such as fitness, beauty and laundry.

Mylan acquired Famy Care Business

Mylan Inc. is a global generic and specialty pharmaceuticals company headquartered in Pennsylvania. In 2007, Mylan acquired a controlling interest in India based Matrix Laboratories Limited, a top producer of generic drugs, and the generic business of Germany based Merck KGaA. Through these acquisitions, Mylan has grown from the third largest generic company in United States to the second largest generic and Pharmaceuticals Company in the world.

Recently, Indian subsidiary Mylan Laboratories Limited, signed a definitive agreement to acquire certain female health care businesses from Famy Care Limited, a specialty women’s health care company with global leadership in generic oral contraceptive products for $750 Million in cash plus additional contingent payments of up to $50 Million. The acquisition will build on Mylan existing partnerships with Famy care in North America, Europe, and Australia.

Famy Care, headquartered in Mumbai, India, offers a comprehensive range of women’s health products including oral and injectable contraceptives, intra-uterine devices (IUDs), tubal rings, and hormone replacement therapy products. More than 15% of the world women using oral contraceptive pills today use a Famy Care product. It is the world largest producer of generic OCPs, with four high quality-manufacturing facilities in India, two of which have been approved by U.S. Food and Drug Administration (FDA) and the European Union.

Famy Care is the first generics company to have received prequalification from the WHO for hormonal contraceptives. This manufacturing base represents one of the lowest cost and largest dedicated to OCPs globally, and brings Mylan Strong capabilities in OCP cycles, injectable, IUDs, and tubal rings. Famy Care has a strong presence in the private, institutional, and non-governmental organization sectors and markets its products in more than 90 countries around the world.