Cardinal Well being acquires Specialty Networks for $1.2 billion
US-based pharmaceutical firm Cardinal Well being has agreed to amass Specialty Networks, an built-in multi-specialty group, together with its PPS Analytics platform for $1.2 billion in money.
Specialty Networks is an built-in group that features group buying organizations, life sciences and analysis options in rheumatology, gastroenterology and urology.
The corporate primarily supplies options targeted on affected person inhabitants well being administration, medical analysis, affected person engagement and workflow automation applied sciences.
These are thought of important to assembly requirements of care, medical analysis, observe operations, and value-based care.
By buying Specialty Networks, Cardinal Well being goals to boost the expansion of its specialty enterprise by integrating superior applied sciences and capabilities that meet crucial enterprise and buyer wants.
Jason Hollar, CEO of Cardinal Well being, mentioned: “Growth in specialty is a prime precedence for us and we now have invested to increase our providing.
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“The acquisition of Specialty Networks enhances our specialty technique by delivering new capabilities that strengthen the hyperlink between our downstream and upstream companies, permitting us to create worth for purchasers, producer companions and sufferers.”
The acquisition is predicted to enrich Cardinal Well being's current companies in key therapeutic areas by enhancing the corporate's analytical capabilities and repair choices, and accelerating information and analysis capabilities at biopharmaceutical producers.
Cardinal Well being may even have entry to Specialty Networks' PPS Analytics platform, which makes use of synthetic intelligence (AI) to offer actionable insights for suppliers, researchers, payers and policymakers.
Shailendra Sharma, CEO of Specialty Networks, mentioned: “Specialty Networks and Cardinal Well being are united of their mission to ship worth to specialty doctor practices and their sufferers and producers with best-in-class choices.
“This partnership is a powerful cultural match and a giant win for physicians and sufferers.”
Sharma will proceed to steer the corporate as a part of Cardinal Well being as soon as the deal closes.
Completion of the deal is topic to satisfaction of customary closing circumstances, together with receipt of vital regulatory approvals.
