Hull-based parent organization The 55 Group has expanded its brand portfolio with the acquisition of the city-based healthcare technology brand Moodbeam.
The relationship between The 55 Group and Moodbeam dates back to 2019, when the group’s brand, Pagabo, tested the then-wearable Moodbeam wristband format on construction sites for schemes purchased through its frames.
Moodbeam expanded and developed its offering dramatically during the pandemic.
By becoming a digital first offering through the development of an organizational dashboard, the software enabled companies to visualize morale within their teams and apply organizational changes to improve staff well-being.
More recently, Moodbeam developed a mobile app offering that allows any user to track and view trends in their mental well-being from any mobile device.
With the acquisition now complete, it will join The 55 Group’s portfolio of digital brands alongside Pagabo, Sypro and Loop. It will be more closely integrated with Pagabo’s procurement software, My Pagabo, which operates primarily within the construction industry.
Gerard Toplass, Group CEO of The 55 Group, said: “Moodbeam is a truly unique piece of technology, so we are very pleased to announce this acquisition and bring it to our software suite at The 55 Group.
“Our mission is to use technology to create a better world, with our structure providing a platform for growth and integration between our brands.
“This will be no different as we bring Moodbeam into our broader portfolio, where it will have a significant impact on the construction industry and look to remove the taboo that sadly still exists.
“The construction sector goes above and beyond in physical health care because of the close association with safety, but as our broader understanding of mental wellbeing grows, it cannot be ignored.”
Moodbeam was founded in 2016 by Gadget Shop founder and Red5 co-founder Jonathan Elvidge and former journalist Christina Colmer McHugh, who came up with Moodbeam after her daughter felt anxious at school.
