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Nox Health Acquires Somryst, The Only Fda-Cleared Digital Insomnia Treatment

May 25, 2023•over 2 years ago

Acquiring Company

Nox Health

Acquired Company

Somryst

AtlantaMedicalHealth CareBiotechnology

Description

Nox Health, a global sleep health leader, has acquired Somryst, the first FDA-cleared Prescription Digital Therapeutic (PDT) that delivers effective, first-line treatment for adults with chronic insomnia. This acquisition deepens the Nox value-based healthcare programs, as it seeks to reframe sleep as a critical and powerful intervention strategy for chronic health conditions management.

Company Information

Company

Nox Health

Location

Atlanta, Georgia, United States

About

Nox Health is a global sleep health leader that is looking to transform sleep healthcare with the power of data, science, technology, and empathetic care. Headquartered in Atlanta, Georgia, and with operations in Reykjavík, Iceland and Denver, Colorado, Nox is on a mission to improve the health of populations suffering from chronic conditions through accurate sleep diagnostics, comprehensive, value-based sleep care management and rigorous outcomes measurement. Nox diagnostic devices are used today to diagnose sleep disorders more than two million times a year in 50 countries. The value-based Nox sleep care management program is a more effective alternative to traditional sleep coverage that puts patients and outcomes first - and now covers more than a million members. For more information on Nox, please visit www.noxhealth.com.

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M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed