Generic drug provider Teva Pharmaceutical Industries Ltd. (NYSE: TEVA) is buying privately-held health care software company Gecko Innovations Inc., for an undisclosed amount.
Gecko, based in Cambridge, Massachusetts, is known for CareTRx, a cloud-based program that monitors respiratory conditions such as asthma, through real-time data.
“Teva is committed to optimizing respiratory care through the development of new therapies and novel delivery systems to better serve patients living with respiratory conditions,” says Teva chief scientific officer Michael Hayden.
There has been robust deal activity in the health care software space in 2015. Other deals include: GTCR investing in Transaction Data Systems Inc.; Nanthealth is picking up FusionFX; and Premier Inc. (Nasdaq: PINC) buying CECity Inc. for $400 million.
Israel-based Teva is the world's largest generic drug maker and has been active in dealmaking in 2015. For example, the company recently agreed to buy Allergan's generic drug business for about $40 billion, right around the same time Teva dropped its $40 billion bid to acquire rival Mylan.
For more on what is driving M&A in health care tech, read Health Care Industry Tech Catch-Up Drives Deals.