Roche boosts cancer efforts with $1.9 billion buyout of Flatiron Health
pharmafile | February 16, 2018 | News story | Medical Communications, Sales and Marketing | Cancer, Flatiron health, Roche, acquisition, oncology, pharma
Roche has announced it is to acquire privately held healthcare and technology firm Flatiron Health for $1.9 billion to leverage the New York City firm’s technology and data analytics infrastructure, including its oncology-specific electronic health record software, to bolster its efforts in cancer research.
The deal to buy all of Flatiron’s shares follows Roche’s existing equity stake of 12.6% in the company, after it invested $175 million in 2016.
“This is an important step in our personalised healthcare strategy for Roche, as we believe that regulatory-grade real-world evidence is a key ingredient to accelerate the development of, and access to, new cancer treatments,” explained Roche CEO Daniel O’Day. “As a leading technology company in oncology, Flatiron Health is best positioned to provide the technology and data analytics infrastructure needed not only for Roche, but for oncology research and development efforts across the entire industry. A key principle of this is to preserve Flatiron’s autonomy and their ability to continue providing their services to all existing and future partners.”
Nat Turner, Flatiron Health Co-Founder and CEO, added: “Roche has been a tremendous partner to us over the past two years and shares our vision for building a learning healthcare platform in oncology ultimately designed to improve the lives of cancer patients. 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.”
The transaction is expected to close in the first half of this year.
Matt Fellows
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