Barcelona, July 19th, 2021. SocialDiabetes, the leading digital solution for diabetes management, and Farmalisto, the leading MedTech and pharmacy platform in Latin America, have announced a strategic alliance to launch a telemedicine platform aimed at transforming diabetes management and radically improving the lives of patients.
Diabetes affects more than 41 million people throughout Latin America and this figure is expected to reach 68 million by 2040 (PAHO, September 2020). By 2040, the financial burden of diabetes is projected to reach $446 billion. Most of the costs of diabetes are due to early hospitalizations and morbidity resulting from a lack of adequate patient education and follow-up. This growing demand threatens the sustainability of health systems, which is further undermined by persistent shortages of endocrinologists and primary care staff, especially in developing countries. Digital health has enormous potential to mitigate the economic burden of metabolic diseases in Latin American markets.
In collaboration with SocialDiabetes, Farmalisto is poised to launch an innovative patient-centered integrated care program that, thanks to mobile technology, telemedicine, and universal connectivity of medical devices (IoT), allows for remote monitoring of patients, data management in real-time, and the analysis of patient behavioral patterns, providing personalized and effective healthcare.
This innovative program will be launched in Colombia, Mexico, Chile, and Peru during the second half of 2021, and it is expected to expand throughout Latin America in the following year.
One major advantage of this alliance is the ability to leverage the technical and operational expertise of two leading companies in the sector with a strong regional position. The synergies of this collaboration will allow for a rapid response to growing market demand during health crises such as the one we are currently experiencing, guaranteeing quality healthcare services for patients and health institutions, access to information, and continuity in the drug supply chain, in an efficient and personalized way.
“We are seeing the health sector move rapidly from the increasingly commoditized product landscape to one offering value-added services and focused on the patient experience wherever they are,” says Maria Jesus Salido, CEO of SocialDiabetes. “We are very happy to put our technology at the service of Farmalisto’s brilliant trajectory. I believe that we complement each other perfectly to respond to the needs and trends that we both observe.”
“We are delighted to initiate this strategic alliance with SocialDiabetes, a world leader in diabetes management, with European and FDA certification. The high quality of SocialDiabetes technology and their business history make them ideal partners to complement and expand the scope of our telemedicine services,” says José Joaquín Mora Hernandez, CEO of Farmalisto Latin America.
Farmalisto is a home care technology platform that provides face-to-face and virtual medical services, including teleguidance, teleconsultation, and telemonitoring, as well as an extensive catalog of pharmaceutical products, both OTC and prescription, offering the confidence, security, comfort, and favorable prices that the patient desires.
Farmalisto is an integral solution for all health and wellness needs delivered to the patient’s home.
Farmalisto operates in Colombia, Mexico, Peru, and Chile, where it stands out as a leader in innovation and technological solutions for the health sector. The organization is a pioneer in e-health systems, patient support programs, and the creation and implementation of e-commerce for large pharmaceutical laboratories, individualized monitoring programs supported by artificial intelligence for patients with chronic conditions such as diabetes, and providing other key services to major players in the global health sector.
Farmalisto has received funding from some of the most important international investors such as IDB Invest, HBM Investment Partners, and Morgan Rio.
The startup SocialDiabetes, based in Barcelona, London, and Mexico City, is a leader in Latin American digital solutions markets and one of the most prestigious platforms globally for the management of diabetes and hypertension.
SocialDiabetes provides a monitoring system that synchronizes with multiple devices and provides relevant information for decision making. Intelligent data management improves patients’ lives while generating valuable information for healthcare professionals.
The company has European CE and American FDA 510(k) medical certification while clinical trials of the platform have demonstrated significant improvements in glycemic control, as well as a reduction in complications between 25% and 40%. It has won multiple awards in Europe for its innovative and effective approach to the management of diabetes.
SocialDiabetes started operations in Mexico three years ago, thanks to investments from ALLVP and recently CAF – Development Bank of Latin America, who have made an equity investment in the company to facilitate its deployment in the region.
For more information, please visit: www.socialdiabetes.com