“Datavant, the leader in helping healthcare organizations securely connect their data, and Ciox Health, the leader in clinical data exchange, today announced that they have signed a definitive agreement to merge the two companies in a transaction valued at $7.0 billion. The combined entity, to be named Datavant, will be the nation’s largest health data ecosystem, enabling patients, providers, payers, health data analytics companies, patient-facing applications, government agencies, and life science companies to securely exchange their patient-level data.”
“The combined company is focused on improving patient outcomes and reducing costs by removing impediments to the secure exchange of health data. Datavant will offer the ability to access, exchange, and connect data among the thousands of organizations in its ecosystem for use cases ranging from better clinical care and value-based payments, to health analytics and medical research.”
“Datavant’s combined ecosystem will now include:
- More than 2,000 U.S. hospitals and more than 15,000 clinics
- More than 120 health plans
- More than 100 health data analytics companies
- More than 30 life science companies
- More than 70 academic institutions and non-profits
- More than 75 state, local, and federal government agencies”
“The fragmentation of health data is one of the single greatest challenges facing the healthcare system today,” said Pete McCabe, CEO of Ciox Health. “Each of us has many dozens of interactions with the healthcare system over the course of our lives, and that information is retained in siloed databases across disparate institutions. Every informed patient decision and every major analytical question in healthcare requires the ability to pull that information from across the health data ecosystem while protecting patient privacy. We are thrilled to join forces with the Datavant team to connect health data to improve patient outcomes. Together we are well positioned to navigate the technical, operational, legal, and regulatory challenges to doing so, and are committed to acting as a neutral connectivity solution for our many customers and partners.”…
Source: Datavant and Ciox Health Announce Merger, Creating the Largest Neutral and Secure Health Data Ecosystem, June 9, 2021. Business Wire.
G2X TAKE: Datavant, a leader in helping Healthcare organizations securely connect their data, and Ciox, a leader in clinical data exchange, have announced an agreement to merge, setting up the nation’s largest health data ecosystem, with a focus on enabling patients, providers, payers, health data analytics companies, patient-facing applications, Government agencies, and life science companies to securely exchange their patient-level data.
- Ciox has made a number of strategic hires over the past year or so, to include recruiting former CMS CMMI CTO Shannon West as Chief Innovation Officer; adding Nick Giannasi as its Chief Product Officer; and Tal Rosenberg as President, Real World Data (RWD).
- This continues Ciox’s recent run of investment in partnerships and strategic M&A actions, to include last summer’s announcement of the acquisition of San Francisco-based biomedical Natural Language Processing (biomed-NLP) technology company, Medal, Inc.; an announced collaboration with LabCorp to create a Comprehensive Patient Data Registry; a partnership with HealthVerity to enable a First-in-Kind Decentralized Clinical Trial; and a partnership with Signify Health to create a First-of-its-Kind Unified Patient Record Incorporating Clinical and Social Insights from the Home and Community.
- Ciox CEO Pete McCabe will remain to lead the newly merged entity, with Datavant CEO Travis May assuming the role of President.