Datavant, a leader in helping healthcare organizations securely connect their data, and Ciox Health, a leader in clinical data exchange, 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’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
“The fragmentation of health data is one of the single greatest challenges facing the healthcare system today,” said Pete McCabe, CEO of Ciox Health.
“Every decision made in healthcare should be informed by data,” said Travis May, CEO of Datavant. “Our goal is to create a ubiquitous, trusted, and neutral data ecosystem where parties across the healthcare system can seamlessly and securely exchange data – unlocking better outcomes, faster research, and healthcare at a lower cost. The combined company is positioned to transform America’s health infrastructure and power the health data economy.”
Upon closing, the new company will be led by current Ciox Chief Executive Officer Pete McCabe as CEO, and current Datavant CEO Travis May will assume the role of President and join the Board of Directors.
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