"It is the biggest deal in the digital health sector yet,“ says Austrian business angel Hansi Hansmann, who was personally involved in the negotiations as a long-time investor and backer of mySugr. It was agreed to keep the purchase price confidential.
mySugr as a fundamental „element of the new Roche ecosystem“
The startup mySugr was founded in 2012 by Fredrik Debong, Gerald Stangl, Michael Forisch und Frank Westermann. Currently, it serves one million users with its app that allows them to easily keep track of their blood sugar levels. mySugr considers itself as the global market leader in the field. As of now, the app is available in 52 countries and 13 languages.
„The partnership will be an essential element of our new, open digital ecosytem,“ says Marcel Gmünder, the global leader of Roche Diabetes Care. The deal permits mySugr to remain a separate company and further expand at the location Vienna. Thus, mySugr will not be integrated into Roche’s corporate structures, but instead remain an autonomous brand and subsidiary. In the next two years, the team is projected to expand from currently 47 to 200 employees. Furthermore, no restructuring measures are supposed to be undertaken due to the deal.
mySugr sees big potential in building a comprehensive service environment for diabetics. In cooperation with insurances, packages comprising glucometers, access to the app and measure strips for blood glucose shall be sold globally. On the German market, this service is already available for an annual price of 1,000 Euro. The growth opportunities look promising: Worlwide, approximately 400 million people currently suffer from diabetes. In Austria, an estimated 600,000 people are affected. It is also planned to connect the emrh fitness tracker and other medical devices with the app.
Network of Roche as multiplier
For rolling out the service globally, financial stability is needed – something that mySugr achieved thanks to the exit. The idea is to invest the fresh capital mainly into research and product development. „Thanks to the expertise and the global network of Roche, mySugr will become an indispensable companion for an easier life with diabetes,“ says Frank Westermann, CEO and co-founder of mySugr.