Apple Engaged In Talks To Acquire Crossover Health
Apple reportedly engaged in discussions that would have led to the acquisition ofa medical startup called Crossover Health as part of its push into the healthcare industry.
The iPhone maker has been targeting the healthcare industry for some time and the push seems to be gaining momentum. Sources have revealed that the software and tech giant was interested in acquiring Crossover Health and that it spent a few months in acquisition talks. However, the talks did not yield the expected results and so Apple ended that pursuit.
Crossover Health provides healthcare and wellness services to self-insured employers. Apple and social media giant Facebook happens to be some of the healthcare firm’s clients. Additionally, Crossover Health has clinics located in the Bay Area as well as New York. It is also tech-oriented in the sense that it offers same-day appointments through a mobile app.
The reports did not reveal why the acquisition talks were not successful but they pointed out that the acquisition would have allowed Apple to venture into primary care. The iPhone maker is also said to have approached primary care organization, One Medical according to CNBC but the details were scanty. The two instances highlight the software and tech giant’s continued interest in the healthcare sector.
“If you look at it, medical health activity is the largest or second-largest component of the economy, depending on which country in the world you’re dealing with,”stated Apple CEO Tim Cook during a recent interview with Fortune as he confirmed the company’s deep interest in healthcare.
Despite the lack of an acquisition deal to aid the venture into healthcare, Apple has already developed products such as the Research Kit and a medical kit for developers. The former was used to collect data for an Asthma study. Researchers were quite impressed with the Research Kit and even described it as a suitable platform especially for short studies being conducted in various diverse locations.
Some analysts believe that Apple’s push into healthcare might be part of its plan to enhance credibility with health apps and devices such as the Apple Watch. The truth about the pursuit might be as simple as identifying the opportunities in the healthcare industry and wanting to pursue them.