Stockholm-based iZafe, a company that conducts research, development and marketing of medical products for medication and drug management, announced on Thursday, August 18, that it has acquired 100 per cent of the shares in Pilloxa, a digital health company.
The acquisition is made up of the 70,874,308 newly issued iZafe shares, which have a pro forma value of about SEK 30M (nearly €2.83M). After the deal, which is anticipated to occur in Q3 2022, Pilloxa stockholders will control 50 per cent of the shares in the joint business.
The deal has to be approved by the iZafe Group’s extraordinary general meeting.
Aim of the acquisition
For both the person and drug research firms, using the wrong or insufficient amount of medication is a serious and expensive problem that costs society a lot of money. It has been demonstrated that encouraging patients to take their medications as prescribed can improve medical results. Both iZafe and Pilloxa offer solutions that support patients in safe medical treatment.
CEO of iZafe, Anders Segerstrom, says, “Through the acquisition of Pilloxa, we are now taking the next step towards our vision of improved health with better compliance, whose digital platform can be leveraged and integrated directly into our existing products and offerings.”
According to Segerstrom, the acquisition also broadens the client base, creates a broader appealing offer for consumers, healthcare providers, and the pharmaceutical sector, and is anticipated to accelerate market penetration through sales and margin synergies.
Co-founder of Pilloxa, Helena Ronnqvist, says, “With Pilloxa’s digital offering and long-term collaboration with the pharmaceutical industry and together with iZafe, we are able to offer a comprehensive solution for our customers; patients, healthcare professionals and the pharmaceutical industry. Pilloxa’s promise to our customers today is a complete digital solution for patient support within one month of the initiation meeting. We are therefore used to rapid integrations and will immediately begin to work on offering a joint digital solution.”
“A platform to engage your patients and learn from them”
Founded in 2015 by Francesco Mazzotta, Helena Ronnqvist and Per Nilsson, Pilloxa develops apps for patients to support them in adherence to their treatment and to connect patients, healthcare providers and the pharmaceutical industry.
The company offers a SaaS platform so that other clients and pharmaceutical firms may safely and affordably build digital patient assistance. To help patients take the right medicine, connected aids like Pilloxa’s self-developed smart medication dosage can be linked to the service.
The company says, “We provide innovators with the tools and insights to enable sustained learning within health so that our customers can focus on patient needs and how to best support them. Agile and affordable, pricing starts at €2500 a month and it takes only one month to launch a branded patient app with us.”
Pharmaceutical firms like Bayer Nordics and the Nordic branch of Chiesi Global Rare Diseases, university hospitals like the University Hospital in Oslo, and institutions like the University of Gothenburg are few of Pilloxa’s clients and partners.
Brief about iZafe
Founded in 2008, iZafe is a life-science company that develops and markets medical and digital security solutions to create safer drug handling at home. The company’s digital medication dispenser, Dosell, reduces the risk of incorrect medication, increases security for family and relatives and relieves public care personnel.
Its customers include both public and private healthcare organisations in Sweden, the Nordic nations, and beyond. iZafe Group sells predominantly through established partners who already have long and deep customer relationships with the priority customer groups.