Bone Health Technologies Acquires Wellen
REDWOOD CITY, Calif., July 25, 2024 (Newswire.com) - Bone Health Technologies (BHT), a leading medical technology innovator developing breakthrough non-pharmacological solutions to improve bone health and reduce fractures, today announced the company has acquired Wellen, a Brooklyn-based health technology company reinventing exercise-based osteoporosis care as a personalized and science-backed solution.
The acquisition of Wellen is a major step toward achieving BHT’s vision of a comprehensive, multi-modal bone health solution, anchored by the company’s prescription-only FDA-cleared Osteoboost vibration therapy belt launching in late 2024. Wellen CEO Priya Patel will join Bone Health Technologies as Chief Product Officer to drive the development of layered services in order to provide the best possible outcomes for people with low bone density.
The Wellen exercise program will remain live and supported for both existing and new members.
“We’re thrilled to welcome Wellen to the BHT team,” said Laura Yecies, CEO of Bone Health Technologies. “One in two women and one in four men will suffer an osteoporotic fracture in their lifetime. Priya and the Wellen team have built the gold standard for personalized exercise-based care designed by physical therapists to strengthen bones and reduce the risk of falls and fractures. The Wellen program will bring tremendous value to our platform.”
“Anticipation is high for the launch of Osteoboost among both patients and healthcare professionals, and our science-backed osteoporosis exercise platform is a natural fit,” said Wellen’s Patel. “New treatments for low bone mass have been few and far between for a long time and too often have focused on a single type of treatment. I couldn’t be happier to join BHT and continue making a difference for people with low bone density.”
Continued Patel, “Osteoboost is the therapeutic anchor to BHT’s holistic, non-pharmacological approach to bone health. By layering customized exercise, nutrition, tracking, and more, we will be able to offer patients not only convenience but better results and a stronger, more active life.”
Today, an estimated 64 million Americans — and hundreds of millions more worldwide — are at risk of life-altering spinal and hip fractures due to osteopenia and osteoporosis. While pharmacological interventions for osteoporosis exist, patient acceptance is critically low due to side effects. Prior to Osteoboost, there were no prescription treatments developed specifically for osteopenia, creating a public health crisis. The launch of Osteoboost, expected by the end of 2024, will feature the precision-targeted vibration therapy belt as part of a 360° bone health solution, personalized based on science to increase overall results and ensure patient success.
The acquisition of Wellen comes on the heels of several recent significant milestones for Bone Health Technologies, including FDA-clearance of Osteoboost as a Class II De Novo Breakthrough medical device, plus the award of the company’s fifth patent and addition of two key new executives announced earlier this month.
About Bone Health Technologies
Bone Health Technologies (BHT) is a Redwood City-based company that applies science and medical expertise to create better health outcomes for women and men at risk of osteoporosis and bone fractures. The company’s first FDA-approved device, Osteoboost, is poised to become the new standard of care in treating postmenopausal osteopenia. BHT is backed by leading investors, including Esplanade Ventures, Terumo Medical Corporation, Ambit Health Ventures, Good Growth Capital, Portfolia, Astia Angels, and Golden Seeds. For more information about BHT and Osteoboost, including the full Indications for Use, please visit www.bonehealthtech.com.
About Wellen
Wellen is a Brooklyn-based company dedicated to supporting active aging and empowering women to live longer, stronger, and healthier lives. With a personalized exercise program tailored for women with osteoporosis and osteopenia, Wellen provides holistic, science-based solutions to enhance bone health and overall well-being. The company is backed by prominent investors, including Long Journey Ventures, Village Global, Dream Machine, City Light Capital, Kaya Ventures and Founders Factory. For more information about Wellen and its innovative exercise program, please visit www.getwellen.com.
Source: Bone Health Technologies
