This morning, Komodo Health, a medical-focused data analytics company, announced the acquisition of life science market access software company Breakaway Partners for an undisclosed amount. The news comes just a few months later Komodo closed a massive $ 220 million Series E round of funding, bringing its valuation to over $ 3.3 billion.
Breakaway Partners has developed software capable of tracking form changes, medical and drug policy criteria, and payor coverage in different regions in real time.
Komodo Health was founded in 2014 and has a long history of working with providers, payers, and life science companies. The New York-based company has developed an artificial intelligence and data analysis tool called Healthcare Map, which is able to track healthcare encounters of anonymized patients. The service is able to describe patient outcomes for individuals and outcomes for the wider population.
“Market access is a natural adjunct to Komodo’s existing software capabilities across the life sciences business,” wrote Web Sun, co-founder and president of Komodo Health, in an email to MobiHealthNews. . “The acquisition brings together Komodo’s healthcare card and software suite with Breakaway Partners’ state-of-the-art dataset including form changes, medical and drug policy criteria and payor coverage. This combined data will feed into their market access software suite to track the impact of policy decisions and forms on patient outcomes and – more importantly – to inform value-driven strategies that improve those outcomes.
WHY IS IT IMPORTANT
According to Sun, the new acquisition will help expand Komodo’s footprint in the life science business space. Komodo is promoting this acquisition as a way to help follow value-based models, which focus on patient outcomes and deliver the most effective treatments.
“The market need is clear. As payers and healthcare providers continue to shift to value-based payment models, payers, providers and life science companies need faster and more complete information to address the gap. gap between new advancements, the potential impact on patient outcomes and decisions about forms, ”Sun wrote. . “With our combined knowledge and our single interface software, life sciences teams will be able to navigate the current forms landscape with additional information from real-world patient outcomes to existing therapies, information about which patients in a particular region would benefit most from new therapy, and – more importantly – a deeper understanding of patients who are not currently receiving the therapies they need. “
THE BIGGEST TREND
In May, Komodo signed an agreement with PicnicHealth to jointly use their projects to create a real world patient data pool using anonymized data from payers, providers, labs and EHRs. Specifically, Komodo’s role will be to analyze the links between the patient journey and large-scale health outcomes.
Today, the Licorne company has more than $ 314 million in venture capital.
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