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Axial Exchange acquires mRemedy
[June 15, 2012]

Axial Exchange acquires mRemedy

Jun 15, 2012 (Datamonitor Financial Deals Tracker via COMTEX) -- Axial Exchange, Inc., a software company that provides open source solution to share healthcare information, has acquired mRemedy, Inc., a provider of integrated mobile and internet services to share healthcare information. Both the companies are based in the US.

mRemedy was formed in 2009 as a collaboration between DoApp, Inc. and Mayo Clinic to offer mobile healthcare platform to healthcare providers.

Canaan Partners, Axial's lead venture capital investor, and Mayo Clinic both invested in Axial Exchange to complete the deal.


Deal Type Acquisition Sub-Category Majority Acquisition Deal Status Completed: 2012-06-14 Deal Participants Target (Company) mRemedy, Inc.

Acquirer (Company) Axial Exchange, Inc.

Vendor 1 (Company) DoApp Inc.

Vendor 2 (Company) Mayo Clinic Deal Rationale The acquisition provides Axial Exchange with the software, pipeline and customers of the myTality(R) patient-facing mobile healthcare application, that helps patients navigate a future hospital visit, and helps hospitals better market their services.

Axial will use the myTality suite as the patient-facing complement to Axial's care transition products, Axial Patient(TM) and Axial Provider(TM), which support transition of care from the hospital to home.

This agreement also provides Axial Exchange with access to consumer content from MayoClinic.com

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