Health tech company with Hat roots announces major deal
Mark Sakamoto and business partner Sachin Aggarwal’s digital health company has made another big move in the business world.
Think Research recently announced the acquisition of fellow health company MDBriefcase — a transaction worth more than $25 million in cash and stock options. Think Research is also taking on roughly $3 million in debt from MDBriefcase.
“We’re really excited about this,” said former Hatter Sakamoto. “This is a classic example of a one plus one equals three scenario.
“This just made a lot of sense.” Aggarwal, Think Research’s CEO, says the acquisition was an easy decision.
“We knew these guys and we’ve been working with them for the better part of two years,” he said. “They have certain reach into the health-care marketplace, just like we have certain reach.
“We do different things, but what each group does is highly complimentary to the other.”
Think Research’s goal is to get the best data to health-care workers, so in turn, patients can get the best care possible. MDBriefcase puts a large emphasis on education, which ties in perfectly with what Think Research is doing, says Aggarwal.
“Together we become one of the largest players in the world in getting evidence to the bedside,” he said. “We really are stronger together because of the size and scale.
“No one in Canada comes close to our size when it comes to knowledge-based healthcare.”
Aggarwal says MDBriefcase creates tools based off evidence.
“When someone does a study, nothing would come of it if no one read it or analyzed it,” he said. “They take research and create digital tools that will then be used to teach nurses, doctors and pharmacists.
“Those medial professionals get their continuing education credits by consuming that content.”
Aggarwal added that MDBriefcase will not be downsized or closed after being bought out, but the opposite may happen.
“These are complimentary companies, so some things may be merged,” he said. “But overall, we expect that MDBriefcase will expand, not shrink.”