Diabetes platform mySugr exits to Roche for as much as $100M

Next Story

Ashton Kutcher plans to host an open dialogue on gender equality

mySugr, a popular digital diabetes management platform which emerged from Austria a few years ago, has been acquired by health giant Roche. It now becomes the heart of Roche Diabetes Care’s new patient-centered digital health services. Roche plans to maintain its acquisition as an open and independent platform for health insurance companies, medical technology companies, and pharmaceutical companies.

The mySugr app serves as diary for diabetics tracking their blood sugar, medications and activity levels and works in cooperation with insurers. It has been working with Roche since 2014 and previously got funding from Roche’s Venture Fund.

While the sales amount was undisclosed, it could well have been amongst the biggest health tech exits in Europe to date, and is a significant one for the Austrian startup scene.

According to some observers mySugr was valued between $75 million and $100 million.

Competitors to mySugr Livongo raised $70m and glooko has recently raised $35m.

mySugr was founded in 2012 by Fredrik Debong, Gerald Stangl, Michael Forisch and Frank Westermann. Currently, it serves one million users and is considered the market leader in the field. As of now, it’s available in 52 countries and 13 languages.

“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.

Back in March 2015 Roche invested another €4.2 million into the startup, together with the already invested XLHealth and iSeedVentures.

The founders have detailed their journey to date here.