Axial Exchange announces acquisition of mRemedy

Axial Exchange Inc. today announced that Axial Exchange has acquired mRemedy, a company formed in 2009 by DoApp, Inc. and Mayo Clinic to offer a mobile healthcare platform to healthcare providers. The acquisition provides Axial Exchange with the software, pipeline and customers of the myTality® patient-facing mobile healthcare application, which 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 award-winning care transition products, Axial Patient™ and Axial Provider™, which support transition of care from the hospital to home. Canaan Partners, Axial's lead venture capital investor, and Mayo Clinic both invested in Axial Exchange to complete the deal.    

This agreement also provides Axial Exchange with access to consumer content from MayoClinic.com that offers patients reliable health information from one of the world's most respected healthcare providers. This content will be incorporated into Axial's current patient-facing products, as well as in future Axial offerings. The health information licensed to Axial includes detailed information on nearly 1,000 conditions and diseases.

In addition, four Mayo Clinic physicians will join Axial's Advisory Board and lend their clinical expertise to the ongoing development of Axial's solutions. These include Dr. Paul Y. Takahashi, MD; Nathan Jacobson, DO: and two others to be named.

"Patients and their families want and expect the most up-to-date information about life, health, disease and treatment," said Dr. Paul Takahashi, associate professor of medicine at Mayo Clinic, an expert in the field of geriatric and internal medicine. "Mayo Clinic's health information content will now reach even more people, providing accurate answers to common and uncommon health issues."

"This is a case where one plus one definitely equals three," said Stephen Bloch, MD, general partner at Canaan Partners. "Axial is quickly growing into a best-in-class solution for improving the discharge process in hospitals. Integrating a patient's personalized care plans into a hospital's mobile portal was the logical next step to allow hospital to offer end-to-end patient care. Having Mayo Clinic on the Axial Advisory Board will augment our philosophy of offering the gold standard in patient engagement."

Axial's solutions won first prize in the US Department of Health and Human Services' Partnership for Patients Initiative innovation competition, run by Office of the National Coordinator's (ONC), on "Ensuring Safe Transitions From Hospital to Home." The myTality acquisition accelerates Axial's move into mobile healthcare and enables Axial to more quickly leverage a mobile platform capable of scaling to large numbers of mobile patient-customers - while interconnecting patient's care plans and discharge information, and providing added patient engagement in the goal of reducing readmissions.

Axial's solutions make it painless to keep all care providers on the same page, in real time. Axial Provider provides an at-a-glance clinical dashboard to connect hospitals, physicians, and health plans - automatically updating and sharing details about ER and inpatient encounters, and specialist test results. Axial Patient then delivers relevant information to patients and caregivers on their tablets, laptop and mobile phones. This better facilitates a safe patient transfer and helps the entire healthcare system to better manage treatment.

"Axial Exchange is honored to have Mayo Clinic participation on our advisory board, one of the world's leading healthcare institutions," said Joanne Rohde, CEO of Axial Exchange. "We are committed to engaging patients in their own care, and making sure that their circle of support has access to timely and personalized information to help get better faster. With 20% of patients discharged from our hospitals being readmitted within 30 days, our nation has lots of room for improvement. We owe it to patients and the professional healthcare community to start harnessing technology that can help them."