CONTEXT: Following on from Ciox partnering with HealthVerity back in February 2021, Datavant (fresh from partnering with Biodesix on a lung cancer database) have announced a $7billion deal to combine enterprises. Big data in the US keeps on getting bigger | US data only.
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1. ““The fragmentation of health data is one of the single greatest challenges facing the healthcare system today,” said Ciox CEO Pete McCabe, who will become chief executive of the new company set to emerge under the Datavant banner.”
2. “With the goal of making data a facet of every healthcare decision—and spinning that information back into life science research—Datavant and its VC backers agreed to lay out $7 billion for the medical records platform developer Ciox Health.”
3. “The combined company plans to offer a joint technology ecosystem that brings disparate health records together and allow for secure, anonymous exchanges among patients, providers and biopharma companies alike.”
4. “The $7 billion deal was supported by a slate of the companies’ existing investors—including Ciox’s New Mountain Capital and Datavant’s corporate parent Roivant Sciences, alongside Transformation Capital, Merck Global Health Innovation Fund, Labcorp, Cigna Ventures, Johnson & Johnson Innovation and Flex Capital.”
5. ““Datavant’s groundbreaking tokenization technology and the strength of Ciox’s expanded network across providers, payers, health application developers, and life sciences markets makes this combination compelling,” said Sixth Street vice chairman and partner R. Martin Chavez.”
Source URL: https://www.fiercebiotech.com/medtech/datavant-to-absorb-ciox-health-7b-medical-data-deal