BeatO, a leading digital health ecosystem for chronic condition management, announced the acquisition of Pune-based Novique Health for an undisclosed amount. BeatO provides a full-stack solution for diabetes management and, with Novique, will now also provide a science-backed diabetes reversal program.
Through this acquisition, BeatO will augment its services of combating diabetes through clinically proven management, reduction, and reversal of diabetes by addressing the condition’s root cause.
Founded in 2016, Novique Health is an online speciality medical clinic focused on a scientific approach for the treatment and reversal of Type 2 diabetes. Novique uses its proprietary technique of psychographic segmentation for members and intensive behaviour change coaching to tailor clinical protocols that help patients improve medical outcomes. Novique’s differentiated clinical program helps patients reverse diabetes by addressing the root cause of the condition (insulin resistance and carbohydrate intolerance) and not just targeting the symptom of the disease (high blood sugar). The segmentation method helps tailor the engagement and intensity of health coaching and doctor consults to drive improved individual compliance and outcomes. All coaches are trained by psychologists to help members grow from small changes to sustainable long-term healthy behaviours.
Novique has demonstrated that 60% of its members on the 10-week program reduced their HbA1c to normal range, 100% of the members on insulin reduced or completely eliminated insulin usage and 67% achieved a clinically significant weight loss of more than 7% of body weight.
Commenting on the acquisition, Gautam Chopra, Founder & CEO – BeatO, said: “At BeatO, we have built a data-driven and clinically robust solution for the monitoring and control of diabetes, driving positive health outcomes for our members. With Novique’s acquisition, we will leverage their expertise and scientific approach in reversing Type 2 diabetes, further strengthening BeatO’s clinical program.”
In India alone, approximately 77 million people have diabetes and an estimated prevalence of prediabetes in 14% of the population. Each person with diabetes has different needs based on the seriousness of the condition, economic factors, awareness and motivation levels of the patient. The need to have a personalised solution and care for each person is integral in generating improved health outcomes. BeatO’s acquisition of Novique will enable millions of people with prediabetes, newly diagnosed Type 2 diabetes or a predisposition to diabetes to reverse their condition and lead healthier lives.
Novique’s founder Rahul Rosha – who brings more than 20 years of rich healthcare experience having worked in senior roles at Blue Cross, Northwell Health, Booz Allen and through his work at Virta Health, a leading Diabetes Reversal company in the US. Rahul will join BeatO’s leadership team to drive outcome-based diabetes reduction and reversal programs.
Rahul Rosha, Founder & Managing Director – Novique Health, stated: “We believe BeatO is the ideal partner to build a full stack of solutions for diabetes – starting from monitoring, control and now reversal. We have found a perfect match for customer-centricity and driving evidence-based improvement in the health outcomes of customers. We are excited to build a whole slew of innovative services that will be introduced in the next few months.”
BeatO’s revenues have soared 600% in the last year and the Company is clocking an annual gross revenue run-rate of Rs70 crore. In July, BeatO raised US$5.7 million led by W Health Ventures. The funds will be utilised to grow its subscriber base across multiple channels and geographies as well as for product enhancement to provide care for other cardio-metabolic conditions.
The Company has currently expanded to 650,000 registered members, out of which 300,000 are paid members serviced across 3,000 cities in India.