LOS ANGELES & BOSTON--(BUSINESS WIRE)--NantWorks, and its majority-owned subsidiary NantHealth, LLC, a cloud-based information technology provider combining genomic science and big data to transform healthcare, today announced that they have completed the acquisition of NaviNet, Inc., the nation's leading healthcare technology company of payer-provider collaboration solutions. The acquisition continues NantHealth’s vision of delivering on whole health systems integration and revolutionizing the patient-clinician experience by bringing real-time molecular and evidence-based insights to the point of care. NantVentures, the private equity arm of NantWorks participated in the financing. Financial terms were not disclosed.
“The acquisition of NaviNet completes our 10-year vision at NantWorks and NantHealth to integrate and coordinate our complex healthcare ecosystem from the knowledge domain, to the care delivery domain and now to the payer domain, as a single sign-on, seamless, cloud-based, secure adaptive learning system for patients, payers, and providers,” said Dr. Patrick Soon-Shiong, Founder and Chief Executive Officer of NantHealth. “NaviNet has a tremendous, long-term customer base of more than 40 health plans – Blue Cross Blue Shield payers, Aetna, Cigna, and many others – a nationwide network of more than 450,000 active end-users across all 50 states, and an All-Payer Access provider portal to 450+ commercial and government plans nationally built on NaviNet Open, the company’s payer-provider collaboration platform. This cloud-based system allows provider access to over 90% of covered lives in the United States and will serve as a transformative platform for the communication of cutting-edge knowledge to all.”
Since the launch of NaviNet Open in 2014, the company’s applications have expanded beyond classic administrative transactions such as insurance verification and claims management into the intimate administrative and clinical collaboration needed both in chronic disease management and newly reimbursable genetic and oncological strategies, with expanded provider access to 450+ commercial and government plans nationally. For example, the company’s Document Exchange service enables HIPAA-safe exchange of clinical information among multiple medical management, informatics, and care delivery teams. The system will serve as a nationwide, scalable real-time access point and secure web-based portal for patients and providers to receive breaking news information about novel clinical and immunotherapy agents, and to access active cancer clinical trials locally, in this age of next-generation genomic medicine.
Dr. Soon-Shiong added, “By combining NaviNet Open’s applications – eligibility and benefits from more than 450 commercial and government plans, referrals, authorizations, document exchange, claims management, and more – with NantHealth’s interoperability, decision support and connectivity platforms and with NantOmics supercomputer predictive modeling platforms, we are now poised to be the nation's leading healthcare collaboration network by transforming the payer-provider relationship to evolve from transactions to interactions and finally to collaboration. Moreover, leveraging NaviNet’s nationwide network across more than 170,000 active provider offices and 2,000 hospital settings will allow us to reach more doctors with our genomics, decision support, and connectivity solutions to enable better care coordination at lower costs for patients. The combination of leading-edge genomic science and best-in-class applications, delivered through NantHealth, will be critical for winning the wars against cancer, hypertension, diabetes, and other life-threatening diseases. Our dream was to address the cognitive overload that faces clinicians today especially in the complexity of cancer, and support community oncologists as well as major academic centers. Finally, we have the infrastructure in place to make this a reality.”
“NaviNet is our most significant acquisition to date,” said Robert Watson, President of NantHealth. “The company’s large installed base of health plans and provider offices gives us the payer relationships and scale for delivering best-in-class genomics and clinical solutions directly to providers. In addition, NaviNet’s payer-provider solutions complement NantHealth’s existing NantOS clinical operating and supply chain operating system, establishing NantOS as the only integrated cloud-based population health management platform that encompasses patient, provider and payer interactions in real time. Together, we can now go to market with the industry’s most comprehensive and integrated portfolios for cancer care, population health, and wellness by deeply engaging every member of the healthcare ecosystem – payers, providers, patients, and pharma.”
“We are excited to join forces with NantHealth,” said Frank Ingari, president and chief executive officer of NaviNet. “By combining NaviNet’s scale with the power of NantHealth’s genomic and clinical information technology solutions, we will be able to jointly deliver accurate and relevant information to our network of over 170,000 provider offices. NaviNet’s fastest growing user base is the clinical team. Doctors, nurses, and care coordinators have embraced our new products such as NaviNet Open Document Exchange and All-Payer Access. NantHealth’s powerful and unique set of unique clinical solutions will accelerate this trend and put NaviNet at the heart of collaboration between clinicians in the service of the patient.”
With the acquisition of NaviNet, NantHealth adds roughly 330 new associates including an experienced management team who has previously held leadership roles at health plans, healthcare IT companies, and enterprise, cloud-based solutions providers. NantHealth also expands its worldwide presence to include new offices in Boston, Massachusetts and Belfast, Northern Ireland.
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About NantHealth
NantHealth, a member of the NantWorks
ecosystem of companies, is a transformational healthcare IT company
converging science and technology through a single integrated clinical
platform, to provide actionable health information at the point of care,
in the time of need, anywhere, anytime. NantHealth works to transform
clinical delivery with actionable clinical intelligence at the moment of
decision, enabling clinical discovery through real-time machine learning
systems. The company’s technology empowers physicians, patients, payers
and researchers to transcend genomics into the world of proteomics and
the traditional barriers of today’s healthcare system. By converging
molecular science, computer science and big data technology the Nant
Service Oriented Operating System (NantOS) platform empowers physicians,
patients, and payers to coordinate best care, monitor outcomes and
control cost in real time. This is the first operating system of its
kind in healthcare that is based on supply chain principles and grid
service oriented architecture and integrates the knowledge base with the
delivery system and the payment system, enabling 21st century
coordinated care at a lower cost. For more information please visit www.nanthealth.com and
follow Dr. Soon-Shiong on Twitter @solvehealthcare.
About NantVentures
NantVentures is the private investment
arm of NantWorks and California Capital. NantVentures funds
transformative ideas and technologies that enable enduring improvements
in human life with a primary focus on healthcare and the life sciences,
medical diagnostics, mobile technology, semi-conductors, nano-optics,
artificial intelligence, cloud computing, alternative energy and
scientific innovations that are on the bleeding edge of biology,
chemistry, and physics. Capital investments in private and public
entities range from single digit to multimillion dollar commitments. For
more information, please contact info@NantVentures.com
and see www.NantVentures.com
About NaviNet
NaviNet is America’s leading Healthcare
Collaboration Network (HCN). NaviNet has long-term customer
relationships with the nation’s largest health plans and a nationwide
network of over 450,000 clinical and administrative professionals –
representing 60% of the nation’s physicians – who have access to 450+
commercial and government payers and over 90% of covered lives in the
United States. Through NaviNet Open, our payer-provider collaboration
platform, and our ecosystem of partners, we help payers and providers
lower costs and boost care quality, while enhancing the provider and
patient experience. For more information, please visit www.NaviNet.net
and follow us @NaviNet on
Twitter.