Thorne HealthTech Acquires Majority Interest in Drawbridge Health

NEW YORK, May 25, 2021 /PRNewswire/ -- Thorne HealthTech, a leader in developing innovative solutions for a personalized approach to health and wellbeing, today announced it has acquired the majority of outstanding shares of Drawbridge Health, a healthcare technology company founded in 2015 by GE Ventures and GE Healthcare that is focused on re-inventing the blood draw experience by offering a more comfortable and convenient blood testing solution through the OneDraw™ A1C Test System. The acquisition will build on Thorne HealthTech's vision of delivering innovative solutions at the forefront of health and wellness for consumers and medical professionals. Drawbridge Health will remain a majority-owned and controlled subsidiary of Thorne HealthTech. Financial terms of the deal were not disclosed.

Lee McCraken, previously chief executive officer of Drawbridge Health, will remain actively involved in the company as Chairman of the Board of Directors of Drawbridge Health. As part of the acquisition, Drawbridge Health has named a new leadership team, including co-CEO's, Dan McEvoy, former President of Onegevity Health, and Jerome Scelza, former Chief Technology Officer of Oova, Inc., to accelerate growth and lead the integration efforts.

"Precision wellness will only ever be as good as the data – and your blood labs are a key element of this. The surge in at-home finger-stick draws, despite being uncomfortable, has shown consumers are ready for an improved technology and the COVID-19 pandemic has shone a light on how in-clinic blood draws are a bottleneck for preventive care," said Co-CEO, Jerome Scelza. "By integrating engineering and dried blood technology, Drawbridge has developed a people-friendly system to collect and stabilize blood samples, opening new doors for consumers and practitioners to access remote collection in the future."

Co-CEO Dan McEvoy added, "Because of our shared experiences during the COVID-19 pandemic, consumers are forcing change in the delivery of healthcare. The migration to virtual care cannot happen without new technologies that improve both the customer experience and the quality of service. The OneDraw device brings new technology to one of the most basic but important tools in monitoring health and wellness. It offers real advantages to consumers and practitioners by improving an accelerating shift toward virtual care," said McEvoy.

"Drawbridge Health is delivering leading-edge technology that facilitates a more convenient testing solution for consumers," said Thorne HealthTech CEO, Paul Jacobson. "The acquisition of this innovative company serves to extend Thorne HealthTech's portfolio of personalized health and wellness tests and solutions – all of which are designed to support efforts to maintain health," said Jacobson.

The OneDraw™ Blood Collection Device, the enabling technology for the FDA-cleared OneDraw™ A1C Test System, was awarded the prestigious Red Dot Award: Product Design 2020 in the Medical Devices category. OneDraw™ is a small, lightweight, single-use device that attaches to the upper arm with a hydrogel adhesive. Instead of using a traditional hypodermic needle to puncture a patient's vein, the device is placed on the skin and blood is gently collected using nano lancets with a light vacuum suction. By pressing buttons on the device, a virtually painless blood sample is collected on a stabilization cartridge within it. The OneDraw™ Blood Collection Device is not currently FDA-cleared for use without the supervision of a healthcare professional. 

The OneDraw™ Blood Collection Device uniquely facilitates remote sample collection anytime and anywhere in a convenient, comfortable way and is intended to help improve patient care and compliance. Importantly, the high-quality sample is stable for up to three weeks at temperature conditions between 0 -45 degrees Celsius and has the potential to bring lab testing into the home setting.

About Thorne HealthTech
Thorne HealthTech is a leader in developing the world's most innovative solutions for a personalized approach to health and wellbeing. Thorne HealthTech is a science-driven wellness company that is utilizing testing and data to create improved product efficacy and deliver personalized solutions to consumers, health professionals, and corporations. Thorne HealthTech's unique, vertically integrated brands, Thorne and Onegevity, provide insights and personalized data, products, and services that help individuals take a proactive and actionable approach to improve and maintain their health over a lifetime.

About Drawbridge Health
Founded in 2015 by GE Ventures and GE Healthcare, Drawbridge Health is a healthcare technology company focused on re-inventing the blood draw experience, enabling comfortable convenient blood sample collection anytime and anywhere. By integrating engineering, chemistries, and modular design, Drawbridge Health has developed a people-friendly system for collecting and stabilizing blood samples, opening new doors to enable access to important health information. For more information, please visit www.drawbridgehealth.com.

SOURCE Thorne HealthTech, Inc.