Israeli Health Group Movement Acquires Swiss Digital Firm Dacadoo
Israeli health group Movement, led by Eli Dahan, has acquired Swiss digital health firm Dacadoo, expanding its global footprint to the US, Canada, Japan, and Europe.
The Israeli health and wellness group Movement, controlled by Eli Dahan, has acquired the operations of the Swiss digital health company Dacadoo. Following the acquisition, Movement will expand its operations outside of Israel for the first time into dozens of additional countries, including the United States, Canada, Japan, and several European nations.
Expanding Global Reach
"The acquisition allows us to break into the entire world all at once," says Eli Dahan, CEO, chairman, and controlling shareholder of the company. "We had a plan to start establishing operations abroad, and this deal fell into our laps like a ripe fruit."
Movement currently controls a wide range of activities in the health sector. It operates healthy lifestyle applications for organizations such as Clalit and Maccabi health funds, runs longevity clinics, private medical services, and a fitness club chain. It also owns the Allen Carr smoking cessation institute and health services under the Ichilov well brand.
The group, founded about 30 years ago, was acquired by Dahan in 2002 and has been on an acquisition spree in recent years. According to Dahan, it currently generates an annual turnover of about 800 million shekels, "with nice profitability." Last January, Leumi Partners acquired 20% of the group at a valuation of 520 million shekels.
"The acquisition allows us to break into the entire world all at once," says Eli Dahan, CEO, chairman, and controlling shareholder of Movement.
Unique Features and Technology
The acquired company, Dacadoo, has developed digital health systems. These include corporate systems for promoting healthy lifestyles, a risk management system for insurance companies, and policy pricing based on biological age. The company has dozens of institutional clients worldwide, including insurance companies, banks, retail chains, and other enterprises.
According to Dahan, about 90 million dollars had been invested in Dacadoo to date. Movement paid several million dollars for the company and assumed an undisclosed amount of debt. Dacadoo's operations were put up for sale by the Swiss government following bankruptcy proceedings in a rapid auction without comprehensive due diligence. Integration between the companies has already begun, with plans to incorporate Dacadoo's proprietary patents and technological developments into Movement's offerings.
