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Datavant and Ciox Health announce merger, creating the largest neutral and secure health data ecosystem

Press releases may be edited for formatting or style | June 09, 2021 Business Affairs Health IT

“The merger of Ciox Health and Datavant creates a privacy-centric, neutral network facilitating the trusted and compliant exchange of patients’ health data across all stakeholders, unlocking exceptional growth opportunities and the capability to enable thousands of use cases across the entire health ecosystem,” said Matt Holt, Managing Director & President, Private Equity at New Mountain. “This transaction significantly accelerates the shared vision of both companies. We look forward to working with Travis, the full team at Datavant as well as the existing and new investors.”

“Datavant’s groundbreaking tokenization technology and the strength of Ciox’s expanded network across providers, payers, health application developers, and life sciences markets makes this combination compelling,” said R. Martin Chavez, Vice Chairman and Partner at Sixth Street. “We are believers in healthcare technology investment that drives improvement in patient outcomes and attempts to solve our most pressing healthcare challenges. This combination has the potential to enable the US healthcare system to become more patient-centric and data-driven through its breakthrough capability for secure collaboration across all industry stakeholders.”

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“Roivant created Datavant with Travis because we needed this data ecosystem to exist to fulfill our own mission of accelerating the development of novel medicines for patients,” said Matthew Gline, CEO of Roivant Sciences. “The combination of Datavant and Ciox Health massively expands the reach of that ecosystem and will unlock significant value for us, patients, and for the entire pharmaceutical industry. We look forward to developing additional differentiated technologies at Roivant going forward.”

“The combined Ciox Health and Datavant platform will represent a powerful force in enabling connectivity of critical clinical data across the healthcare ecosystem,” said Jo Natauri, Managing Director and Global Head of private healthcare investing for Goldman Sachs Asset Management. “We are thrilled to participate in this transaction and continue our partnerships with New Mountain Capital, Sixth Street and all the world-class institutions involved in bringing this combination together.”

The transaction is supported by an existing investor group of private equity, venture capital and strategic investors led by New Mountain Capital, Roivant Sciences, Transformation Capital, Merck Global Health Innovation Fund, Labcorp, Cigna Ventures, Johnson & Johnson Innovation – JJDC, Inc., & Flex Capital. It also includes a significant new investment by Sixth Street with participation from Goldman Sachs Asset Management’s West Street Strategic Solutions fund. Sixth Street will join the new company’s Board of Directors at the completion of the transaction.

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