Focusing on workers’ compensation Bardavon Health Innovations has acquired digital musculoskeletal care startup PeerWell in a cash and stock deal for an undisclosed amount.
Bardavon, which provides tools for injury prevention, treatment planning, case tracking and documentation, will use PeerWell to provide both in-person physical therapy and virtual coaching. The company says the digital MSK platform will complement its clinical guidance tool bNotes, which connects employers and therapy providers to track results.
“We focus on workers and the unique clinical and professional needs of that population, understanding how a patient’s current health, lifestyle, and work needs affect recovery. their feedback,” Bardavon CEO and founder Matt Condon said in a statement. “Bringing PeerWell’s leading digital interoperability is the next evolutionary step.”
WHY IT IMPORTANT
Follow Bureau of Labor Statistics, about 30% of occupational injuries and illnesses in the private sector related to days off work are musculoskeletal disorders. Half of musculoskeletal disorders in the private sector are from the retail trade, manufacturing, healthcare and social assistance industries.
In 2018, the incidence of musculoskeletal disorders was 27.2 per 10,000 full-time workers, down from 35.4 in 2011.
TREND TO BIGGER
Founded in 2015, PeerWell most recently raised funds $6.5 million in Series A funding in 2019. With the acquisition, PeerWell’s investors, including OMERS Ventures and XSeed Capital, will become shareholders in Bardavon.
One number of digital health startups interested in the digital MSK space, which includes companies such as hinge health, SWORD health, DarioHealth, RecoveryOne and Health Upswing.
SWORD has also participated in MSK at work, acquire Vigilance Technologymaker of wearables aimed at preventing workplace injuries, last year.
