- Advocate Aurora Health's investment arm has acquired MobileHelp, a medical alert and remote patient monitoring firm, the company announced this week.
- The deal complements the Midwest-based health system's clinical offerings, as the investment arm looks to acquire or fund firms focused on consumer health and wellness.
- Financial terms and other details of the transaction were not disclosed.
This is the fourth transaction for the newly minted Advocate Aurora Enterprise, which launched last year with the aim of building a portfolio of companies beyond acute medical care.
The investment arm is a subsidiary of Advocate Aurora Health, which operates more than 20 hospitals throughout Illinois and Wisconsin.
So far, the subsidiary group has focused on investing in or acquiring companies that still have a health focus but are not providing acute medical care.
To start, Advocate Aurora Enterprise first acquired Senior Helpers, an in-home care provider for older adults, and invested in Foodsmart, a telenutrition company. Those deals were followed by an investment in Xealth, a startup that enables clinicians to prescribe and monitor digital health tools for patients.
The latest acquisition of MobileHelp builds on Advocate Aurora Enterprise's investment record that targets tools to allow seniors to age independently. There's an opportunity to bundle the technology with its previous acquisition, Senior Helpers, which could "offer an even higher level of support to those aging independently," executives said in a statement.
"The addition of MobileHelp underscores our dedication to investing in solutions that are complementary to our clinical offerings, advancing whole person health and our purpose of helping people live well," Advocate Aurora Health CEO Jim Skogsbergh said in a statement.
MobileHelp's remote life safety systems are already in use in more than 300,000 homes.
The leadership team will remain in place after the acquisition, according to the statement.