Sword Health said on 28 January 2026 that it had acquired Kaia Health, a digital therapeutics company for musculoskeletal and pulmonary care based in Munich and New York, for $285m.
Why Sword Health is buying Kaia Health
Kaia brings a European presence and access to Germany's reimbursement pathway for digital therapies, which covers more than 70 million people, while Sword contributes its AI models, scale and wider portfolio across physical, women's and mental health. In the US, Kaia's members will be moved to Sword's AI Care platform.
“Joining Sword Health represents a powerful next chapter for the mission we've spent over a decade building.”
Deal terms and financing
The deal was valued at $285m, about €237m, according to ECO News, which said it was Sword's largest acquisition. Payment terms were not disclosed.
Market context
Kaia, backed by Optum Ventures, Balderton Capital and Eurazeo, raised about $125m through 2021 and uses AI-based motion tracking to guide exercises via smartphone. Sword, founded in Porto and now headquartered in New York, was valued at $4bn in 2025 and said it aimed to raise about $500m in early 2026.
