Wednesday, 05 May, 2021


Roche acquires oncology EHR company Flatiron Health for $1.9 billion

Roche acquires oncology EHR company Flatiron Health for $1.9 billion Roche acquires oncology EHR company Flatiron Health for $1.9 billion
Conrad Doyle | 16 February, 2018, 21:29

Roche will pay an additional $1.9 billion over the millions it had already invested into the company in 2016, and as a result of the deal will control all shares of Flatiron Health.

With its network of community oncology practices and academic medical centers across the U.S., Flatiron Health has created a technology platform designed to learn from the experience of every patient.

Forbes noted that Roche bought Igynta, a maker of targeted cancer drugs, for $1.7 billion past year and that the medical data space "has been heating up as the Food and Drug Administration, pressured by Congress, has expressed interest in using such "real-world" data in the drug approval process".

Flatiron Health was founded by Nat Turner and Zach Weinberg in 2012.

Swiss drugmaker Roche has agreed to acquire Flatiron Health, a US-based healthcare technology and services company, for $1.9bn.

Roche and Flatiron expect the transaction to close in the first half of 2018, subject to customary closing conditions.

Swiss drugmaker Roche Holding AG said on Thursday it would buy the rest of USA cancer data company Flatiron Health for $1.9 billion to speed development of cancer medicines and support its efforts to price them based on how well they work.

New York City, US-based healthcare technology firm Flatiron Health develops oncology-specific electronic health record (EHR) systems.

In addition, Roche and Flatiron say that the acquisition will "advance the use of real-world evidence to set new industry standards for oncology research and development".

The company's existing business model, network of partnerships and overall objectives will remain intact as well after the completion of the deal.

In 2014, Google Ventures led a $130 million investment in Flatiron as healthcare had become a hot area for venture capital, especially companies related to health, data and software. It now partners with more than 265 community cancer clinics, six major academic research centers, and 14 out of the top 15 therapeutic oncology companies.

"This important milestone will allow us to increase our investments in our provider-facing technology and services platform, as well as our evidence-generation platform, which will remain available to the entire healthcare industry", he added.

View of the Rhine River with the illuminated Roche Tower in Basel, Switzerland.

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