DataTant has established a fourth vertical company for itself by acquiring Ontellus, a health file research company based in Houston and claims an intelligence company.
Datating, based in New York, which has existed for about a decade, is a health data platform that connects and disidentifies patient data between organizations. By buying Ontellus, the company adds a legal and insurance vertical to support its three other verticals: payers, providers and life sciences. This decision aims to facilitate the exchange of clinical data and invoicing between providers and any professional organization that requires them – be it a legal service or an insurance company.
The agreement was announced on Wednesday and the two parties concerned do not disclose financial details.
The CEO of data, Kyle Armbrester, said that we have stood out as an ideal acquisition objective because of its strong technological platform and its experienced management team, which all remain and receive significant equity.
He noted that the acquisition of ONTELLUS supports the main mission of date to reduce the administrative burden for suppliers by scanning the requests for medical files of lawyers and life insurers – processes which were previously manual and high volume.
Scanning the manual requests previously releases the teams of productors’ products and engineering to focus more on the development of patients centered on patients and suppliers inside the hospitals, added Armbrester. He stressed that the company spends about $ 150 million a year on the innovation of internal products and undertakes to publish new offers that deal with painful points of its customers.
By establishing this fourth vertical income, datating seeks to increase its high -end growth and to diversify its customers.
“I think it is a market size that could compete with our health plan and our paid segments, so it could easily be a billion dollars in the coming years,” said Armbrester.
The purchase of Ontellus by Datavant marks its second acquisition this summer, while the company closed its acquisition of the real evidence platform last month.
In the future, Armbrester said that Datvant will continue to seek growth opportunities thanks to offers like these.
“We are going to do a lot of construction and expansion, and we are constantly under surveillance for mergers and acquisitions [targets] of all shapes and sizes for our verticals. We will do our best to support and develop them, as long as it leads to the value of our customers, “he said.
Armbrester has highlighted the growing demand for digital health data and its vital role in efforts such as accelerating clinical trials, improving patient care and reduction in health care costs – and he reiterated that in the future, he wants Datavant to be a fundamental player in the modernization of the sector thanks to better data exchange.
Photo: Boonchai Wedmakawand, Getty Images
