Teva To Acquire Privately-held Gecko Health Innovations - Quick Facts

(RTTNews) - Israeli generic drugmaker Teva Pharmaceuticals Industries Ltd. (TEVA) agreed to acquire privately-held health care mobile technology company Gecko Health Innovations, Inc. Financial terms for the deal were not disclosed.

Gecko Health Innovations is focused on developing software and product solutions to aid in compliance and adherence improvement in the management of respiratory diseases.

The deal will strengthen Teva's respiratory technology development capabilities with the addition of Gecko's novel eConnected respiratory disease management platform and reinforces Teva's leadership position in respiratory care.

The deal will see Teva acquire CareTRx, a novel cloud-based solution developed by Gecko Health Innovations, designed to simplify chronic respiratory disease management, connecting patients and caregivers through remote monitoring and real-time adherence tools.

CareTRx is a solution comprised of a hardware device which attaches to most metered-dose inhalers (MDIs) as well as a software program which synchronizes and stores data through an app-based user interface.