Komodo Health, a healthcare intelligence platform vendor based in New York and San Francisco, announced this week that it has acquired Mavens, which provides cloud-based tools aimed at biotech, rare disease and specialty pharma companies.
The terms of the deal were not publicly disclosed, but company representatives noted that Komodo’s Series D funding round raised $44 million.
The organizations said in a release that the deal will lead to the creation of a data-driven enterprise platform for healthcare and life sciences.
“Customers will benefit from our cloud-based enterprise platform that offers access to a suite of software solutions powered by our industry-leading Healthcare Map,” said Web Sun, Komodo Health’s president and co-founder, in a statement.
WHY IT MATTERS
Komodo Health says that its healthcare map tracks more than 320 million de-identified patients, delivering alerts on clinical activity to ensure customers’ timely communications with healthcare providers and allowing users to have a deeper understanding of the clinical marketplace.
“Underwriting tools should provide insight on the patient journey, enabling payers to compare and contrast population cohorts against a comprehensive view of patient journeys as the basis of risk profiles compared to relevant cohorts,” wrote Jason Prestinario, head of Healthcare Solutions at Komodo Health, in a blog post in September.
“This approach goes beyond serving the members of a health plan – it’s the basis of identifying healthy patients and keeping them healthy,” Prestinario continued.
With its acquisition of Mavens’ enterprise applications, Komodo says, the company will enable customers to more efficiently connect patients with life-saving therapies.
The vendors noted their hopes for the industry to shift toward a patient-centric data model and for enterprise companies to end their reliance on legacy aggregators.
“Purchasing fragmented and costly data assets, custom solutions, and expensive consulting projects will be a thing of the past,” said Dr. Arif Nathoo, Komodo Health CEO and co-founder.
THE LARGER TREND
Population health IT vendors have frequently turned to data and analytics to support improved patient outcomes and cost savings.
In the era of COVID-19, some of these organizations have expanded to identify patients at higher risk of complications from the novel coronavirus and to widen testing capability. Most recently, the California-based Color raised $167 million in its Series D funding round, offering testing and surveillance for population health.
ON THE RECORD
“We are excited to join forces with Komodo Health to create a next-generation solution for the industry,” said Prasad Kanumury, founder and CEO of Mavens.
“Together, we will transform the way life sciences companies support patients and providers, ultimately reducing the burden of disease across the globe,” Kanumury continued.