MediSwipe, a Los Angeles-based provider of merchant payment services and financial products for the healthcare industry, signed a letter of intent to acquire the assets of ReachMeDaily.com, a social media network used by residents in nursing homes and assisted-living facilities.
MediSwipe plans to acquire social media network
Financial terms of the deal will be disclosed when the companies reach a definitive agreement, MediSwipe CEO Michael Friedman said.
Facilities pay a monthly fee for residents to use the closed-loop, HIPAA-compliant social media network, which is housed on the facility's server, to connect with family members, according to a news release. Friedman said the facility's activity directors receive an iPad, which is shared among the residents.
ReachMeDaily.com is based in Viera, Fla. Following the completion of the acquisition, ReachMeDaily.com will function as a wholly owned subsidiary of MediSwipe.
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