NantHealth Buy of NaviNet Accelerates Move to Personalized Medicine
NantHealth, which offers genomic- and protein-based molecular diagnostic testing services to support personalized care for cancer, has acquired NaviNet, a major vendor of financial and clinical transactions processing services. The purchase gives NantHealth increased access to insurance companies.
NantHealth, which has designed genomic and protein-based molecular diagnostic testing services and a technology platform to support personalized cancer care, has acquired NaviNet Inc., a major vendor of financial and clinical transactions processing services.
Terms of the deal were not disclosed. NaviNet, moving about 30 million transactions a month, brings access to insurance companies covering nearly 100 million lives and 170,000 provider offices totaling about 450,000 clinical and administrative users.
The acquisition is the latest in a series of significant moves by NantHealth in the past year, which is backed by billionaire investor Patrick Soon-Shiong, M.D. NantCapital LLC, the personal investment vehicle of Soon-Shiong in 2015 invested $100 million in electronic health records and health information exchange vendor Allscripts.
Further, Allscripts invested $200 million in NantHealth, getting a 10 percent equity stake. NantHealth in 2015 also bought the commercial Healthcare Solutions unit of Harris Corporation, getting its FusionFx interoperability and health information exchange platform, provider and patient portals, and referral management and secure messaging software.
Now, NantHealth, which already offers the Eviti oncology decision support software, is going beyond its initial focus on cancer care with a clinical decision support cloud platform that will facilitate genomic sequencing and determination of diagnoses covering other diseases, connect insurers with physician desktops, and enable the doctors and payers to share information in real-time. Other transactions, such as eligibility and authorizations, also will be on the platform.
“I think this doctor knows how to get to the doctors,” says John Osberg, managing partner at Informed Partners LLC, a consultancy specializing in facilitating partnerships, acquisitions and divestitures, in referring to Soon-Shiong.
Getting insurers and physicians together on the platform is the biggest part of the initiative, Soon-Shiong says. “They require complete collaboration if they are going to get to accountable care.” Consequently, he sees insurers aligning with physicians and patients to get the best outcomes at the lowest cost. And that includes using the platform to educate insurers and physicians on new treatments becoming available. “This is population health management one patient at a time in real-time at the molecular level,” he adds.
For instance, a patient with cervical cancer may have a genomic sequencing test that shows the patient could benefit more from a particular breast cancer drug that has been shown to be highly effective in also combating cervical cancer, rather than having to go through chemotherapy or other treatments. Or, the test could show that a patient, based on genetic make-up, won’t benefit from a non-traditional treatment.
“We can teach doctors what to do and what not to do,” Soon-Shiong says. He expects the platform to be ready within nine months and accessible via the desktop or mobile devices.
Terms of the deal were not disclosed. NaviNet, moving about 30 million transactions a month, brings access to insurance companies covering nearly 100 million lives and 170,000 provider offices totaling about 450,000 clinical and administrative users.
The acquisition is the latest in a series of significant moves by NantHealth in the past year, which is backed by billionaire investor Patrick Soon-Shiong, M.D. NantCapital LLC, the personal investment vehicle of Soon-Shiong in 2015 invested $100 million in electronic health records and health information exchange vendor Allscripts.
Further, Allscripts invested $200 million in NantHealth, getting a 10 percent equity stake. NantHealth in 2015 also bought the commercial Healthcare Solutions unit of Harris Corporation, getting its FusionFx interoperability and health information exchange platform, provider and patient portals, and referral management and secure messaging software.
Now, NantHealth, which already offers the Eviti oncology decision support software, is going beyond its initial focus on cancer care with a clinical decision support cloud platform that will facilitate genomic sequencing and determination of diagnoses covering other diseases, connect insurers with physician desktops, and enable the doctors and payers to share information in real-time. Other transactions, such as eligibility and authorizations, also will be on the platform.
“I think this doctor knows how to get to the doctors,” says John Osberg, managing partner at Informed Partners LLC, a consultancy specializing in facilitating partnerships, acquisitions and divestitures, in referring to Soon-Shiong.
Getting insurers and physicians together on the platform is the biggest part of the initiative, Soon-Shiong says. “They require complete collaboration if they are going to get to accountable care.” Consequently, he sees insurers aligning with physicians and patients to get the best outcomes at the lowest cost. And that includes using the platform to educate insurers and physicians on new treatments becoming available. “This is population health management one patient at a time in real-time at the molecular level,” he adds.
For instance, a patient with cervical cancer may have a genomic sequencing test that shows the patient could benefit more from a particular breast cancer drug that has been shown to be highly effective in also combating cervical cancer, rather than having to go through chemotherapy or other treatments. Or, the test could show that a patient, based on genetic make-up, won’t benefit from a non-traditional treatment.
“We can teach doctors what to do and what not to do,” Soon-Shiong says. He expects the platform to be ready within nine months and accessible via the desktop or mobile devices.
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