CNBC reports that Apple was interested in buying a health startup called Crossover Health. The startup works with big companies to help build and run on-site medical clinics on their campus. It primarily works with self-insured employers and provides them with medical and wellness services.
Crossover Health clients include Facebook, LinkedIn, Square, and even Apple itself. Apple was in talks with Crossover for months about a potential buyout but the talks did not materialise in the end. Apple also talked to primary care group One Medical about an acquisition but the talks fell through.
It is unclear what Apple wanted to achieve by acquiring Crossover Health or One Medical. CNBC sources point to Apple’s health team looking into expanding into primary care since over a year. The acquisition could have helped Apple build a network of primary care clinics, though this would have been an oddball move for a tech giant.
Instead, what’s possible is that with the sheer number of health projects going inside Apple, the company wanted to acquire the startups for their tech expertise. Apple has been hiring medical and health consultants, doctors, and other experts in the medical field to work on these projects. It is also working with the U.S. FDA to fast-track the approval process of digital health software. Some health projects that Apple is currently working on including continuous monitoring of blood sugar level with a non-invasive sensor. The company hopes to make the iPhone act as a central hub for all the health data of its owner. This data can then be easily shared with doctors and clinics using HealthKit for easier diagnosis of the problem.
[Via CNBC]Like this post? Share it!