Ciox Health operates healthcare technology company that is focused on developing clinical data exchange capabilities. The company’s solutions would feature rapid and secure access to patient’s clinical records. Important patient-specific data is key for healthcare providers to have access to in order to proper treat the ailment. Ciox Health is not new to the industry, as their pedigree extends forty years. “We help our clients manage, protect, and leverage health information to achieve operational improvements, optimized revenue, and better patient outcomes,” details the healthcare information technology company.
The clinical data exchange company announced it raised $30 million in equity funding, which was led by Merick Global Health Innovation Fund and New Mountain Capital. The proceeds will be used to continue development of the Digital Patient Clone (DPC), a healthcare data repository that is able to de-identify patient data for researchers’ on-demand access. The DPC is designed to help put digital fragments together in order to fully understand each patient and their individual needs.
Ciox Health Press Release:
ALPHARETTA, GA, Ciox Health has raised $30M in equity funding.
Ciox Health, the nation’s leader in clinical data exchange, today 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.”