Mahana Therapeutics is excited to announce the acquisition of CaraCare to become a global leader in the digital treatment of chronic conditions. Click here to learn more
SAN FRANCISCO, USA – March 12, 2024 – Mahana Therapeutics, a leading provider of digital chronic condition management programs, announced today that it has acquired Berlin-based HiDoc Technologies GmbH, operating as Cara Care, a leader in digital digestive healthcare. This combination creates a global company offering the most comprehensive digestive health portfolio currently addressing Irritable Bowel Syndrome (IBS), Inflammatory Bowel Disease (IBD), Celiac Disease and Heartburn, with an exciting pipeline focused on Tinnitus, Pruritus, and Vulvodynia.
The acquisition of Cara Care is expected to accelerate Mahana’s market entry in Europe where the reimbursement of digital programs is outpacing the United States. Cara Care’s IBS prescription-based digital program is currently being prescribed, and reimbursed, to thousands of patients in Germany. The combined entity is now poised to expand its commercialization efforts beyond Germany to France and the United Kingdom as reimbursement of digital programs continues to improve across Europe.
Mahana’s and Cara Care's self-guided, digital chronic condition management programs employ a proprietary cognitive behavioral therapy (CBT) platform that complements consumer health and pharmacological treatments to address high unmet needs associated with digestive, hearing, dermatology, and women’s health chronic conditions. When used with standard of care treatments, these programs can dramatically improve outcomes, patient treatment satisfaction, quality of care and overall patient quality of life while reducing associated provider workload burden.
"The combination of Mahana and Cara Care is an incredible opportunity to bring together our complementary expertise in chronic digestive health conditions and create a one-of-a-kind global offering of digital programs across the Digestive, Hearing, Dermatology, and Women’s Health markets.The transaction will accelerate our mission of reaching the millions of patients suffering from these chronic conditions including through partnerships,such as our ongoing collaboration with Bayer,” said Simon Levy, CEO. “Our ability to pair our digital programs with conventional treatment options will improve overall outcomes, patient satisfaction and has the potential to greatly enhance the lifetime patient value for our consumer health and biopharmaceutical partners.”
“Cara Care is delighted to join the Mahana team to accelerate the expansion of our products within Germany and across other European markets.We see this as a great opportunity to leverage Mahana’s unique distribution and partnership model and to expand our compelling offering in Digestive Health to the US marketplace with minimal overlap,” said Jim Mapes, CEO of HiDoc Technologies.
The combined company operates across the United States, Germany and the United Kingdom with both FDA-cleared and digital wellness programs for IBS and Tinnitus currently prescribed or offered by thousands of healthcare providers and used by tens of thousands of patients worldwide, and an exciting pipeline to reach the millions of patients suffering from IBD, Heartburn, Celiac Disease, Pruritus and Vulvodynia. Mahana is backed by prominent investors including JAZZ Venture Partners, Lux Capital, Gurnet Point Capital, Main Street Advisors, KKCG, and Asabys Partners.
Financial terms of the acquisition were not disclosed.
About Mahana Therapeutics
Mahana Therapeutics is a leading developer of digital chronic condition management programs that are designed to empower patients with chronic conditions to live fuller lives. The company’s first product, Mahana IBS, was the first digital therapeutic to receive FDA clearance for the treatment of IBS and provides cognitive behavioral therapy (CBT) to adults with IBS. More information is available at www.mahana.com.
About HiDoc Technologies, GmBH
Berlin-based digital health company HiDoc Technologies GmbH, dba Cara Care, offers the Cara Care digital therapeutic app for digestive diseases, which spans medication management as well as dietary and mental health interventions to improve gastrointestinal health. The Cara Care app – available for iOS and Android –helps fill the gaps between doctor visits for gastrointestinal disease patients. For more information, visit https://cara.care/en.
Media Contacts:
Justin Zamirowski
press@mahanatx.com
Colin Sanford
colin@bioscribe.com
