Kinduct Buys HealthMet Tech

Posted by Peter Moreira

Kinduct Technologies, the Halifax health-technology company, has acquired Vancouver-based HealthMet Technologies for an undisclosed sum to extend its reach in the community and corporate markets.

Founder and CEO Travis McDonough said in a statement Saturday that the combination of the two companies will accelerate their growth in key markets.

Kinduct has developed a technology platform that helps medical professionals, trainers, coaches and other improve the health and fitness of people.  The platform is multi-faceted and can be adapted to specific markets. For example, it includes the world’s largest databank of medical animation, which can help physicians to explain procedures to patients and to educate them.

Now the Halifax company will be able combine its work with HealthMet, which has spent two decades developing scalable programs to deliver health training to the masses. Its three main programs are the Corporate Challenge, Community Challenge, and 60-Minute Kids Club Challenge. These will now be offered under the Kinduct brand.

“Both Kinduct and HealthMet are passionate about the benefits of healthy living,” said McDonough. “But we know most people have trouble attaining – and maintaining – the health and wellness levels they need. Together our products offer a powerful combination of information, motivation, accountability, tracking, behavior change tools and analysis that is currently lacking in the health, wellness and performance marketplace.”

HealthMet founder and CEO Matt Young will remain with the enlarged company and said he perceives benefits of combining the two companies’ operations.

“Kinduct’s technology platform is so robust and scalable that it has exponentially boosted the power and reach of the HealthMet program,” Young said. “Existing and future clients will see enormous benefits in functionality and results.”

Kinduct has been growing this year in part because of the partnerships it is striking with complementary groups. In April, the company joined with Capital District Health Authority, OrthoMX Inc., both of Halifax, and Laval, Que.-based Emovi to form Mobility at Capital Health, a $2.6 million project designed to accelerate the treatment of patients with mobility issues. The project received a $1.7 million loan from the Atlantic Canada Opportunities Agency’s Atlantic Innovation Fund.

This article first appeared on Entrevestor.com.

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Peter Moreira

Peter Moreira

Peter Moreira spent more than 30 years in journalism in Asia, Europe and North America. He worked with The Deal of New York, covering M&A, private equity and VC markets in the U.S. and Canada for six years and serving four years as London Bureau Chief. At Bloomberg, he covered European and U.K. banking and finance. He previously worked for the South China Morning Post in Hong Kong,... more



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