Workers’ Compensation-Oriented Bardavan Health Innovation Acquires Digital Musculoskeletal Care Startup PeerWell in a cash and stock deal for an undisclosed amount.
Bardavon, which provides tools for injury prevention, treatment planning, and case-tracking and documentation, will use PeerWell to offer both personalized physical therapy and virtual coaching. The company says the digital MSK platform will complement its bNotes Clinical Guidance tool, which connects employers and therapy providers to track results.
“We focus on the unique clinical and professional needs of staff and that population, understanding how patients’ existing health, lifestyle and employment claim a factor in their recovery,” said Matt Condon, CEO and founder of Bardavan, in a statement. The next evolutionary step is to bring Peerwell’s leading digital engagement capabilities. “
Why it matters
According to According to the Bureau of Labor Statistics, about 30% of occupational injuries and illnesses in the private sector were involved in muscular dystrophy while away from work. Half of the muscular dystrophy in the private sector comes from the retail trade, manufacturing, and healthcare and social support industries.
In 2018, the incidence rate of musculoskeletal disorder was 27.2 per 10,000 full-time workers, a decrease from 35.4 in 2011.
Founded in 2015, Pearwell has recently been raised A 6.5 million in Series A funding in 2019. Through the acquisition, Peerwell investors, including OMERS Ventures and XSeed Capital, will become shareholders in Bardavan.
A A number of digital health startups, including companies such as Hinge Health, SWORD Health, DarioHealth, RecoveryOne and Upswing Health, are interested in the digital MSK space.
SWORD is also involved in the workspace MSK, Acquiring Vigilant Technologies, a wearable manufacturer aimed at preventing injuries at work last year.