PHILADELPHIA , Oct. 28, 2021 /PRNewswire/ -- Medical Guardian announced today that it has acquired MedScope America Corporation to create one of the nation's top providers of personal emergency response systems (PERS). The acquisition advances Medical Guardian's strategic health care expansion and positions the company to lead the industry in partnering with health plans to reduce the cost of care and improve the lives and health outcomes of aging Americans who desire to live independently through the safety and security of a PERS device.
With an overwhelming number of older adults – nearly 90% – wanting to remain in their homes as they age, Medical Guardian is now uniquely poised to lead the fast-growing health care PERS channel in addition to the direct-to-consumer PERS market. By joining forces with MedScope, Medical Guardian gains access to an expanded channel of health plan partnerships, bolstering its ability to reach thousands of plan members in need of its services. Together, Medical Guardian and MedScope provide a suite of connected care solutions and 24/7 customer support to a subscriber base of nearly 300,000 seniors in partnership with a national network of nearly 1,800 managed care plans, state Medicaid and home health agencies.
"I'm excited to marry Medical Guardian's best-in-class consumer strategies with MedScope's high-touch, high-service health care platform. As two PERS industry pioneers who are unified in our mission to empower our customers to live their lives without limits, we bring a powerful combination of consumer expertise and differentiated health care capabilities. Our focus will continue to be around providing exceptional customer experiences and innovation, introducing superior offerings that include enhanced PERS products and remote patient monitoring solutions," said Geoff Gross, founder and CEO, Medical Guardian.
Founded in 2005, Medical Guardian has been named to Inc. Magazine's Fastest Growing Companies list for the past nine years. In early 2020, the company announced a partnership with Water Street Healthcare Partners, a strategic investor focused exclusively on health care, to further its expansion. The company's acquisition of MedScope is part of a long-term strategic growth plan that includes investing in organic initiatives and pursuing additional acquisitions that will expand and enhance its solutions.
"Coming together with Medical Guardian was a logical next step to accelerate MedScope's growth trajectory," said Greg Smith, CEO, MedScope. "Our absolute focus on the consumer and care manager experience has been core to our success in cultivating long-term health care partnerships. Medical Guardian brings this same 'family-feel' approach to working with consumers. Together, we have a tremendous opportunity to lead the PERS industry by leveraging our combined knowledge, channels and capabilities."
MedScope will continue to operate under its current brand and management team led by Mr. Smith within the Medical Guardian organization. Financial terms of the acquisition are not being disclosed.
About Medical Guardian
Founded in 2005, Medical Guardian is a leading provider of innovative senior health solutions. The company offers a full suite of connected care medical alert systems that empower older adults to live a life without limits. A member of the National Aging in Place Council, Medical Guardian is headquartered in Philadelphia and provides nationwide support to thousands of aging Americans who are ready to take on the next chapter of life while remaining safe in their own home. Whether it's an in-home system, mobile device with GPS/Wi-Fi capabilities, or an all-in-one wearable medical alert smartwatch, Medical Guardian has the personal medical alert device to meet an array of needs and lifestyles. For more information about Medical Guardian, visit medicalguardian.com.
About MedScope America Corporation
Since 1999, MedScope has aimed to develop partnerships with appropriately aligned health care organizations with the goal of opening patient referral channels. By utilizing this business-to-business approach, MedScope has achieved success with many well-established health care organizations and many of the country's largest long-term care, private insurance carriers. MedScope prides itself on its unique ability to offer a full-service customizable PERS program, account management tools, and unmatched transparency to partnering agencies. A partner-first approach and unmatched customer service coupled with a robust, scalable platform results in a dynamic offering and an unparalleled partner/patient experience.
About Water Street
Water Street is a strategic investor focused exclusively on health care. The firm has a strong record of building market-leading companies across key growth sectors in health care. It has worked with some of the world's leading companies on its investments including Humana, Johnson & Johnson, Medtronic and Walgreen Co. Water Street's team is comprised of industry executives and investment professionals with decades of experience investing in and operating global health care businesses. The firm is headquartered in Chicago.
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SOURCE Medical Guardian