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Unicorn SWORD Health buys software unit from Bright Technologies and will hire

Unicorn SWORD Health buys software unit from Bright Technologies and will hire
SAPO Tek · 27 Jan 2022
SWORD Health has just announced the purchase of the software development unit of the Portuguese startup Bright Technologies.

With this acquisition, the Portuguese unicorn led by Virgílio Bento intends to strengthen its expansion and growth plans by investing in the creation of a team of excellence in engineering and product in the area of Digital Health. This also involves hiring more than 150 professionals, says a statement sent to the newsroom.

SWORD Health recently closed a Series D round of funding worth $189 million, which put its valuation at $2 billion, becoming the Portuguese startup that most quickly reached unicorn status.

With the mission of democratizing access to quality health care to more than 2 billion people suffering from musculoskeletal pathologies worldwide, the Portuguese company stresses in the press release that it wants to accelerate the treatment of these pathologies by developing new digital therapies, from prevention to post-surgery rehabilitation.

It also recalls that these pathologies represent the highest health care cost worldwide and are one of the main causes of chronic pain and disability.

Since its launch in 2015, SWORD Health has worked with insurers, health systems and companies in the United States, Canada, Europe and Australia to make high-quality musculoskeletal care accessible to all.