Alpharetta Health Tech Data Company Raises $30M
Tuesday, July 30th, 2019
Ciox Health, the nation’s leader in clinical data exchange, announced a $30 million equity investment to enhance its core capability of providing clinical data liquidity to reduce healthcare costs and improve the quality of patient outcomes. New investor Merck Global Health Innovation Fund (Merck GHIF) and private equity owner New Mountain Capital led the financing.
Ciox rapidly and securely facilitates access to clinical records on behalf of its healthcare provider customers, enabling increased data liquidity and the improvement of health care outcomes. In this newly announced relationship, Ciox is continuing to enhance its core capability of providing clinical data liquidity to reduce healthcare costs and improve the quality of patient outcomes.
The financing will be used to accelerate the development of Ciox’s Digital Patient Clone (DPC) – a health data repository that brings de-identified real-world patient data to researchers at scale and on-demand. Through its DPC platform, Ciox can stitch together the digital fragments of a patient’s story from disparate clinical information systems, then normalize the data for use by researchers. The investment also will enable Ciox’s provider partners to contribute to advancing clinical research and development without introducing additional administrative burden or complexity.
“Today, we are privileged to extend our mission to support leading-edge efforts to help save, improve and extend lives,” said Pete McCabe, CEO, Ciox Health.
“We are pleased to partner with Ciox, a leader in moving data and information among provider systems, patients and clients,” added David M. Rubin, Ph.D., and Managing Director of Merck GHIF. “Ciox brings a unique approach to accessing real-world data at scale, and we expect them to partner intimately with companies within the GHI oncology digital health portfolio. Ultimately, Ciox’s technology will advance clinical research and accelerate the launch of new treatments.”