Welltok Acquires Mobile Health App Creators Mindbloom.
A Denver-based health IT startup named Welltok has recently managed to acquire Seattle-based Mindbloom for a currently undisclosed price in all-cash price, which the company announced on Thursday.
Welltok are developers of software that healthcare providers and insurance agents use to encourage their consumers to live much healthier lives. Mindbloom specializes in the development for mobile healthcare applications like the LifeGame and apps for consumers, which is one of the reasons why Welltok took an interest in them. stated Welltok CEO Jeff Margolis.
“To profoundly change consumers’ health-related awareness, actions and behaviors for the better, we need an effective and practical platform to become ingrained in their daily lives,” said Jeff Margolis, chairman and CEO of Welltok. “We were impressed by the Mindbloom team’s ability to integrate behavioral science and user-centered design principles with health-related content to deliver a superior consumer experience.”
Mindbloom will now be developing feature that will be integrated into Welltok’s main product, CafeWell. Cafewell has been described by Welltok as a platform that will be able to hold information for consumers to encourage participation in wellness programs and compliance with treatment programs through the use of personalized internet websites with a set of treatment plans, social networking, and gamification.
“Adding a Pacific Northwest team also allows us to tap into the rich mobile, e-commerce and gaming expertise in the region,” said Margolis. “With Mindbloom on board, we are further strengthening our consumer DNA to help individuals optimize their health.”
With Mindbloom’s team being on board, Cafewell will have even more features for its mobile app.
According to a representative, Welltok will be keeping Mindbloom 11 working team in Seattle. With the new inclusion of employees, Willtok has increased into 125 people.
Acquire Mindbloom is one of the latest moves Welltok has noticeable done. During the previous month they had announced the there raise of $22.1 million Series C round led by New Enterprise Associates. It has also announced a partnership with IBM to develop products that will use the IBM Watson supercomputer.
Welltok has managed to gain over $48 million with its recent closing with VC with an amount of 18.7 million round back in April 2013.