Tuesday, February 28, 2012

NantWorks Buys Boston Life Labs

Los Angeles-based Nantworks, the new business incubator run by billionaire Dr. Patrick Soon-Shiong, said today that it has acquired another company, Boston Life Labs. Financial terms of the buy were not disclosed. NantWorks said it will rename the Boston Life Labs, a developer of systems for remote monitoring of patient biometric data, as NantCare. Boston life Labs' products include hardware and software to measure blood pressure, blood sugar, weight, medication management and other key indicators. Soon-Shiong has quietly been acquiring a portfolio of life sciences, scientific research, as well as other widely diverse companies for Nantworks. Nantcare will be headed by former Boston Life Labs CEO Richard Binier.