Acquisition will enable LiveFreely to expand its product suite with Sompo Horizon’s CareGo solution and drive expansion into the Asia-Pacific region

SAN JOSE, Calif.: LiveFreely Inc., a digital health technology company that empowers seniors and their caregivers to live more freely, connected, and independent lives, today announced the acquisition of Sompo Horizon, a premier caregiving benefits provider and subsidiary of global insurance provider, Sompo Holdings. The acquisition will allow LiveFreely to further scale and integrate its circle-of-care products, including its flagship BUDDY application with Sompo Horizon’s CareGo solution.

LiveFreely’s BUDDY application provides seniors with an AI-driven personal health assistant that provides real-time health monitoring, vitals and code blue alerts, geographic boundary monitoring, and the ability to predict and prevent future falls which is among the leading causes of death among seniors. Paired with Sompo Horizon’s CareGo solution, which provides a comprehensive digital platform, concierge support service, and partner network that enhances the decision-making process for caregivers, today’s acquisition will provide LiveFreely with the ability to expand its digital health technology capabilities to benefit health systems, insurance brokerages, nursing and senior homes, schools, public institutions, individuals, families, and the broader care ecosystem.

“With CareGo, we will be able to unify our digital health technology in BUDDY, creating a one-stop, unified, and AI-enabled care experience,” said Dr. Arthur Jue, CEO and Co-founder of LiveFreely. “We founded this company because of our late father who suffered from falls, and with today’s acquisition, we’re poised to expand our mandate for digital caregiving to service mental health in schools, expand our footprint around the globe, and continue to build our platform to help seniors and caretakers live more freely.”

The new acquisition of Sompo Horizon positions LiveFreely for market expansion, particularly in Japan, which boasts one of the world’s largest caregiving communities, as well as other geographies in the Asia-Pacific region. The acquisition will also allow LiveFreely to scale its technology to address the demand for mental health-related digital solutions in key market segments, which will benefit from its predictive AI technology.

“LiveFreely was founded with a mission to leverage AI and technology to transform the way families monitor seniors, today we are taking our dream to the next level,” said Daniel Jue, CTO and Co-founder of LiveFreely. “Today’s investment will provide us with the necessary means to scale our business and reach the full circle of caregiving, as we look to expand our product suite and our geographic footprint.”

The BUDDY application features mission-critical predictive health capabilities for seniors, enabling AI-driven real-time monitoring of deviations in an individual’s baseline wellness patterns through mass-market smart wearables, including Fitbit. Through this technology, BUDDY notifies caregivers and emergency services if a user’s heart rate rises above or drops below certain thresholds through code blue alerts, bolstering preventative care measures for high-risk users.

“LiveFreely is a proven player in the digital health technology industry, and we could not be more proud to partner with them for this acquisition, said Tetsuya Morito, CEO of Sompo Horizon. “CareGo was designed to streamline caregiving and with LiveFreely’s BUDDY application, the product suite will further elevate the digital health experience for seniors, caregivers, and the healthcare industry ecosystem.”

About LiveFreely

LiveFreely provides innovative digital health technology solutions that empower seniors and their caregivers to live more freely, connected, and independent lives. LiveFreely’s flagship application, BUDDY, leverages AI to monitor, track, and alert caregivers, first responders, and emergency services personnel of critical health issues in real-time through smart wearables. BUDDY fosters a supportive, sustainable ecosystem of health professionals, families, and friends, promoting greater peace-of-mind, security, and well-being for loved ones. CareGo offers a comprehensive digital platform, concierge support service, and partner network that empowers caregivers to make the best decisions for their loved ones while saving time, money, and alleviating stress. Learn more at www.​LiveFreely.today and about BUDDY at https://www.BUDDYlife.com/.

About Sompo Holdings

Sompo Holdings is engaged in various wellbeing businesses centered on its Domestic P&C Insurance Business with a history of around 135 years, as well as in its Overseas Insurance and Reinsurance Business, Domestic Life Insurance Business, and Nursing Care Business with about 74,000 employees in 28 countries. Listed on the Tokyo Stock Exchange (Prime Market), SOMPO’s consolidated ordinary income totaled over JPY 4,933.6 billion (USD 32.5 billion*) in the fiscal year ended March 31, 2024. We have been achieving steady growth based on each business while accelerating new investments in growth areas. Based on SOMPO’s Purpose, “For a future full of health, well-being, and financial protection,” SOMPO will continue to work together to face and support various risks and physical and lifestyle concerns, as the most reliable partner for the realization of a happy and prosperous society and life, by connecting across business, national, and corporate boundaries.

For more information, visit https://www.sompo-hd.com/en/
*Conversion rate: USD/JPY 151.41 as of the end of March, 2024

Fonte: Business Wire