Nox Health has closed the acquisition of Somryst, the only US Food and Drug Administration-approved prescription digital therapeutic that delivers first-line treatment for adults with chronic insomnia, from Pear Therapeutics.
The addition of Somryst expands Nox Health’s suite of tools and programs that address a critical and growing demand for sleep care management for populations suffering from chronic conditions, according to a release from the company.
Sleep deprivation is linked to many chronic health problems, including heart disease, kidney disease, high blood pressure, diabetes, stroke, obesity, and depression, according to the National Institutes of Health. Chronic insomnia, one of the most common sleep disorders, affects approximately 30% of the general population.
“Today, Nox Health provides the only value-based and outcomes-focused sleep care management program for people suffering from chronic conditions,” says Sigurjon Kristjansson, CEO of Nox Health, in a release. “By integrating Somryst into our programs for employers, health plans, and health systems, Nox Health will not only be able to substantially increase the rates of adoption and adherence to sleep therapies for millions of people suffering from insomnia, sleep apnea, and other sleep disorders but also measurably reduce the total cost of healthcare.”
Nox Health acquired Somryst from Pear Therapeutics after being selected as the successful bidder at auction. Pear filed for Chapter 11 bankruptcy earlier this year, and an auction to divest the company’s assets was held in May. Nox Health agreed to a cash purchase price of $3.9 million, according to a bankruptcy court filing.
Somryst is intended to improve insomnia symptoms by providing cognitive behavioral therapy for insomnia (CBT-I) to adults 22 years of age and older with chronic insomnia. The American Academy of Sleep Medicine and the American College of Physicians clinical guidelines recommend CBT-I as first-line treatment for people with chronic insomnia.