Published Date : Sep 28, 2015
A latest announcement suggests, Teva Pharmaceuticals will buy Gecko Health Innovations, Cambridge, Massachusetts. The terms of acquiring this smart inhaler company has not been disclosed.
Gecko’s claim to fame is CareTRx, a device that has come a long way in dealing with chronic respiratory disease management. It connects to most inhalers, has accessible user interface, provides a data analytics platform, and gauges behaviors to help COPD and asthma patients to manage their condition better
Mark Maalouf, founder of Gecko Health Innovations and Dr. Yechiel Engelhard will collaborate with Teva look at new ways of applying the CareTRx technology to Teva’s line of products for better clinical outcomes.
CareTRx has helped Gecko to establish itself as one of the early entrants in the rapidly growing smart inhaler market. The company started out by winning the Wellness Innovation and MIT Media Lab Health event. Initially, the product was called Gecko Cap and was targeted towards kids through gaming. The reward of this kind of gaming was aimed towards motivating the kids to use the inhaler.
It was only in this year that the company decided to broaden its reach that will now include adults as well. CareTRx is a result of this move and is presently undergoing clinical trials with Boston Children’s Hospital and Vanderbilt Children’s Hospital. Cincinnati Children’s Hospital has also been involved in this work.
Unfortunately, the company has generated very little money. The only handsome amount it has been working with is the seed funding from Healthbox and Blue Cross Blue Shield of Massachusetts.