Healthcare Intelligence Acquisition for Veradigm

Healthcare data and technology solutions company Veradigm has agreed to acquire healthcare modeling specialist ScienceIO, for around $140m in cash.

Veradigm's community of solutions and partners provide advanced insights, technology and data-driven solutions for the healthcare provider, payer and biopharma markets. The ScienceIO platform uses 'secure, responsible AI' to allow healthcare industry clients to streamline workflows, improve decision-making and enhance patient outcomes. This includes language models purpose-built to transform complex medical text into usable data and actionable insights.

Veradigm says the buy will reposition it as a leader in the healthcare data intelligence market. More specifically, it will allow the parent firm to create its own proprietary large language models based on its rich data set, which spans more than 400,000 providers and over 200 million patients - while ensuring data integrity and patient privacy. It will also speed up the launch of new features to enhance the customer experience across Veradigm's Provider, Payer and Life Science businesses.

Dr. Yin Ho, Veradigm's Interim CEO says the acquisition accelerates the firm's growth strategy. 'Veradigm has built one of the most unique and valuable assets in the healthcare industry: a large-scale, high-quality data set that spans providers, payers and life sciences companies. By building on our existing partnership and fully integrating ScienceIO's AI platform, we will be able to extract greater and more accurate insights from this data set and build an AI center of excellence to empower Veradigm's portfolio across all of our business units with market-leading capabilities'. Will Manidis, CEO of ScienceIO adds: 'Together with Veradigm, we will provide new features and capabilities for providers and partners, accelerated by ScienceIO's differentiated AI platform'.

Web site: www.veradigm.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.