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💍𝐀 𝐧𝐞𝐰 𝐡𝐞𝐚𝐥𝐭𝐡 𝐭𝐞𝐜𝐡 𝐩𝐥𝐚𝐭𝐟𝐨𝐫𝐦 𝐢𝐬 𝐛𝐨𝐫𝐧? Oura has just announced the acquisition of data company Sparta Science to expand its B2B offerings. This is their third purchase in two years. Why is this deal special ❓Oura may have put the ring on a #platform strategy. Let's unpack this. 🟣 𝐏𝐋𝐀𝐓𝐅𝐎𝐑𝐌 𝐁𝐔𝐒𝐈𝐍𝐄𝐒𝐒 𝐌𝐎𝐃𝐄𝐋𝐒 Healthcare platforms combine various services and vendors on one virtual platform to offer users a holistic solution. 𝐇𝐞𝐚𝐥𝐭𝐡𝐜𝐚𝐫𝐞 𝐏𝐥𝐚𝐭𝐟𝐨𝐫𝐦𝐬 𝐚𝐧𝐝 𝐭𝐡𝐞𝐢𝐫 𝐄𝐜𝐨𝐬𝐲𝐬𝐭𝐞𝐦𝐬 𝐚𝐫𝐞 𝐭𝐡𝐞 𝐧𝐞𝐰 𝐦𝐚𝐫𝐤𝐞𝐭𝐬. Platforms challenge traditional views on competition or #partnerships. Who your direct competitor is will not matter so much as which ecosystem you belong to. The race to partner/ buy is on. 🟣 𝐇𝐎𝐖 𝐀 𝐏𝐋𝐀𝐓𝐅𝐎𝐑𝐌 𝐈𝐒 𝐁𝐎𝐑𝐍 Platform ecosystems are not galaxies born overnight. There is no Big Bang but rather an organic process. ✺Suppose the company is born to be a platform. In that case, it usually starts very narrowly, with one primary sponsor connected to individual players in a two-sided model connected by the platform (i.e. suppliers and customers). e.g. Amazon sold books for many years. ✺Suppose the company was born as a pipeline #business (selling a product like Oura ring). In that case, the platform play becomes a second act once the number of users (suppliers and customers) and interactions rise. How does that happen? 𝐏𝐇𝐀𝐒𝐄 𝐈 The focus is on collaboration. Oura started in 2015 as a monitoring solution to improve sleep and performance. Little by little, they built a closed environment for their members to collaborate. Oura for Business launched in 2022, providing personalized insights for individuals and customized tools for leaders. Last year, Oura acquired the digital identification platform Proxy. 𝐏𝐇𝐀𝐒𝐄 𝐈𝐈 The orchestrator provides other services to increase stickiness and loyalty. Last month, Oura agreed to acquire Veri, which offers personalized metabolic #health programs. 𝐏𝐇𝐀𝐒𝐄 𝐈𝐈𝐈 The platform #business architecture comes to life. Sparta's Trinsic platform will allow Oura's enterprise partners to combine the ring's data with "𝘵𝘩𝘪𝘳𝘥-𝘱𝘢𝘳𝘵𝘺 𝘥𝘢𝘵𝘢 𝘴𝘰𝘶𝘳𝘤𝘦𝘴" 𝘢𝘯𝘥 "𝘦𝘯𝘢𝘣𝘭𝘦 𝘤𝘶𝘴𝘵𝘰𝘮𝘪𝘻𝘢𝘣𝘭𝘦 𝘴𝘰𝘭𝘶𝘵𝘪𝘰𝘯𝘴 𝘵𝘰 𝘪𝘯𝘵𝘦𝘨𝘳𝘢𝘵𝘦 𝘸𝘪𝘵𝘩 𝘦𝘹𝘪𝘴𝘵𝘪𝘯𝘨 𝘴𝘺𝘴𝘵𝘦𝘮𝘴 (#Emr) or create workflows. This way Oura's customers can build niche applications "such as optimizing sailors' schedules for maximum rest, recovery, and early detection of illness." >Oura becomes the orchestrator. Huma has showed us that not only #bigtech can become a #healthtech #data platform. Will ŌURA be next❓ Vince,Dmitry PS: Wonder how #dataplatforms make money? That's our panel topic at the eHealth Workforce Development Conference 2024. Dr. JOIN US (link below). 🟣 i-Expand ➟ #commercialization #biotechology #digitalhealth #entrepreneurship #uae