VirTrial, which is backed by Kinderhook Industries LLC, has acquired Glendale, California-based SnapMD, a provider of telemedicine tools and services. No financial terms were disclosed.
SCOTTSDALE, Ariz.–(BUSINESS WIRE)–VirTrial, a portfolio company of Kinderhook Industries, LLC, announced today the acquisition of SnapMD, an industry-leading provider of telemedicine tools and services that improve patient engagement. The acquisition bolsters VirTrial’s capabilities with access to SnapMD’s telemedicine platform and technical expertise. In addition, the relationship enables integration of additional features and capabilities into VirTrial’s Virtual Care Management (VCM) platform to further establish VirTrial as the dominant global decentralized clinical trial (DCT) solution in the market.
The acquisition supports VirTrial’s goal of making hybrid decentralized clinical trials seamless for sponsors, sites, and patients. The VirTrial platform works with any device (Apple, Android, tablet and/or computer) and can be used by any site. Continuing that focus on flexibility and ease of use, new enhancements available via SnapMD technology will improve functionality and further simplify user experience.
“Our acquisition of SnapMD enables us to better implement our vision of making clinical trials easier for everyone involved from sponsors to sites and patients. By offering a simplified, straight-forward user experience and the ability for sponsors to include multiple countries with extensive features, VirTrial continues to set the bar in decentralized clinical trial platforms,” said Mark Hanley, CEO of VirTrial.
SnapMD’s VCM solution is used by providers nationwide to engage patients via a secure, HIPAA-compliant, cloud-based software platform. The company will operate as a subsidiary of VirTrial and will continue to provide its market-leading telemedicine solution across the healthcare space.
“We are extremely thrilled to join the VirTrial team and drive the evolution of telemedicine platforms in the clinical research industry,” said David Skibinski, CEO of SnapMD. “This transaction will enable SnapMD to further its commitment to improve access to care, regardless of setting, through an industry-best telemedicine solution and unmatched breadth of services.”
VirTrial is a telemedicine company providing a stable, long-standing virtual care management (VCM) platform to transform the clinical trial industry. The platform combines video, text, and email allowing pharmaceutical companies and CROs to create patient centric Decentralized Clinical Trials (DCTs) by replacing some study visits with virtual visits. The vision is for 25-50% of visits to be conducted virtually creating a hybrid model. This model is ideally suited for Phase III/Phase IV trials where patient compliance can be assessed from any location. The VirTrial app is supported on any device (Android, Apple, tablet, computer) and can be used by any site. It is hosted in a secure cloud-based environment and is HIPAA and GDPR compliant.
VirTrial enables greater accessibility to trials for patients, higher performance by clinical trial sites, and improved outcomes for pharmaceutical companies. Working together we can bring better medications to market more quickly.
For more information, please visit www.virtrial.com.
SnapMD offers the leading enterprise-level Virtual Care Management (VCM) telehealth platform. The full-stack software solution enables healthcare providers to engage their patients via a comprehensive, secure, HIPAA/HITECH/COPPA compliant, cloud-based telemedicine platform with powerful back-end systems to manage the digital health care continuum. SnapMD offers the software and services that healthcare providers need to improve access to convenient and effective care. SnapMD’s robust, scalable, private-label VCM platform is designed to handle multiple service-lines and can be deployed as a single telehealth platform across the enterprise.
For more information, please visit www.snap.md.
About Kinderhook Industries
Kinderhook Industries, LLC is a private investment firm that manages over $3.0 billion of committed capital. We have made in excess of 225 investments and follow-on acquisitions since inception. Kinderhook’s investment philosophy is predicated on matching unique, growth-oriented investment opportunities with exceptional financial expertise and our proprietary network of operating partners. Our focus is on middle market businesses with defensible niche market positioning in the healthcare services, environmental / business services and automotive / light manufacturing sectors. We have a track record of successfully and consistently building industry leaders.
For more information, please visit www.kinderhook.com.