Neurotechnology company Beacon Biosignals has acquired sleep diagnostics company CleveMed.
“There is a lot we can learn from each other to expand and enhance our service offerings, including bringing the power of Beacon Biosignals AI [artificial intelligence]-driven algorithms to CleveMed’s existing devices and offerings,” says Jacob Donoghue, MD, PhD, CEO and co-founder of Beacon Biosignals, in a release. The release states that the strategic transaction will strengthen the capabilities of both companies.
In a release, Hani Kayyali, CEO and president of CleveMed, says, “We are so excited about this opportunity. With our fast-growing market presence and Beacon’s exceptional AI capabilities, this strategic partnership is uniquely positioned to expand access to quality care while addressing future sleep testing needs.”
Beacon Biosignals is a neurotechnology company that, in 2023, acquired the research and development business of Dreem, allowing it to launch at-home sleep monitoring services for clinical trials via the integration of Dreem’s clinically validated hardware with Beacon’s electroencephalogram (EEG) analytics platform. Leveraging Beacon’s 510(k)-cleared EEG headband, AI-driven sleep scoring algorithms, and large real-world neurophysiology datasets, Beacon accelerates insights into brain activity to improve patient outcomes. The company seeks to transform the development of treatments for neurological, psychiatric, and sleep disorders.
CleveMed markets sleep testing equipment, services, and web-based technologies that allow sleep disorders to be monitored in the home, including SleepView technologies and SleepView Direct. CleveMed’s goal is to expand the reach of sleep medicine with technologies that speed diagnosis for providers, reduce healthcare costs for payers, and improve patients’ experiences in the home.
