Strategic Acquisition to Bolster Real World Data Business
ALPHARETTA, Ga.–(BUSINESS WIRE)–#acquisition—Ciox Health, a leading health technology company, today announced its acquisition of San Francisco-based biomedical Natural Language Processing (biomed-NLP) technology company, Medal, Inc., a leader in the application of AI techniques to the interrogation of unstructured medical record data. The acquisition accelerates capabilities to enable real-world data (RWD) in support of research that advances patient care.
“We’re proud to bolster the Ciox Real World Data offering with Medal’s technology and team,” says Pete McCabe, CEO, Ciox. “The team and the biomed-NLP product, combined with Ciox’s technology-enabled ability to create longitudinal records across EHRs and provider systems, remove the friction related to medical records-based clinical research. We will consistently supply consented, HIPAA-compliant, de-identified, research-grade RWD for complex clinical use cases to commercial researchers in pharma and biotech, as well as government sponsored researchers. The need is particularly highlighted in the COVID-19 research questions being asked by agencies like the FDA, CDC and NIH.”
As more pharmaceutical and research organizations look to real-world data to accelerate clinical research, reliable identification and interpretation of phenotypic data from deep inside medical records are becoming paramount. The most relevant information resides in the unstructured data: the surgical reports, pathology reports, imaging reports, discharge summaries and other clinician-scribed narrative text. Medal’s software helps identify, contextualize, and interpret narrative-based medical notes, leading to the creation of research-grade data sets at scale. The company’s approach to biomed-NLP and deep learning AI is guided and informed by consensus from clinical expert reviewers across therapeutic areas.
For employees of Medal, the transition is a natural step in the evolution of the company’s biomedical NLP efforts.
“More than 100 million medical records are retrieved and reviewed by Ciox each year from the vast majority of U.S. providers, presenting an unprecedented opportunity to actually bring a true longitudinal perspective to clinical investigation. Ciox works at the first and last mile of U.S. healthcare data,” says Andy McMurry, Ph.D., Chief Science Officer of Medal. “Using Medal AI, Ciox will reduce human expert time and increase the utility of patient data to support biomedical discovery and clinical trials research across many disease areas, including COVID-19. Combining vast biomedical knowledge sources with clinically trained Artificial Intelligence enabling human experts, we are reinventing real-world data for clinical investigation.”
This acquisition is the third major recent announcement from Ciox’s growing Real World Data business, following two prior announcements of strategic collaborations with LabCorp and Merck. As health data remains fragmented throughout the U.S. healthcare ecosystem, Ciox is attracting interest in its RWD division from medical research organizations and other partners. This additional feature of the Ciox DataFit Platform™ through the acquisition of Medal will enable faster and more consistent translational research.
Ciox Health, a leading health technology company, is improving patient health by transforming clinical data into actionable insights. Combined with an unmatched network offering an unparalleled level of secure access to healthcare data, Ciox Health’s expertise, relationships, technology and scale make a difference for healthcare stakeholders and empower greater health for patients. Through its technology platform, which includes solutions for data acquisition, release of information, clinical coding, data abstraction, and analytics, Ciox Health helps clients securely and consistently solve the last mile challenges in clinical interoperability. Learn more about Ciox Health’s technology and solutions by visiting www.cioxhealth.com or Twitter and LinkedIn.
Utilizing its DataFit Platform™, the Ciox Real World Data division (Ciox RWD) assists providers with the ability to securely and consistently curate disparate data sets to enable researchers to access valuable clinical information that may otherwise be hidden in or across different parts of workflow systems that house medical records. The Ciox DataFit Platform™ utilizes clinical rules-based medical concept translation with unstructured data sets to build highly structured clinical data that can be used by researchers. Learn more at www.cioxrwd.com.
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