The companies noted in the announcement - and confirmed to CNBC - that Flatiron Health will continue its current business model and other operations as a separate legal entity. “This important milestone will allow us to increase our investments in our provider-facing technology and services platform, as well as our evidence-generation platform, which will remain available to the entire healthcare industry.” “Roche has been a tremendous partner to us over the past two years and shares our vision for building a learning healthcare platform in oncology ultimately designed to improve the lives of cancer patients,” Flatiron Health cofounder and CEO Nat Turner said in a statement. In addition, the company has also developed a suite of software products that employ real-world data from these records to uncover cancer research and care insights. At that time the company - which had also enjoyed major investments from Alphabet’s GV - was valued at $1.2 billion.įlatiron Health offers an oncology-specific EHR platform employed by both community oncology practices and academic medical centers within the US. New York-based Flatiron Health was founded in 2012 by former Google employees Nat Turner, CEO, and Zach Weinberg, president and COO, both of whom told the New York Times in 2016 that they planned to take the company public in two or three years. A key principle of this is to preserve Flatiron’s autonomy and their ability to continue providing their services to all existing and future partners.” “As a leading technology company in oncology, Flatiron Health is best positioned to provide the technology and data analytics infrastructure needed not only for Roche, but for oncology research and development efforts across the entire industry. “This is an important step in our personalized healthcare strategy for Roche, as we believe that regulatory-grade real-world evidence is a key ingredient to accelerate the development of, and access to, new cancer treatments,” Roche Pharmaceuticals CEO Daniel O’Day said in the statement. Roche will pay an additional $1.9 billion over the millions it had already invested into the company in 2016, and as a result of the deal will control all shares of Flatiron Health. New features include automated reporting of all OCM practice-reported quality measures embedded, evidence-based regimens and pathways at the point of care and seamless ability to create a care plan that contains the 13 components in the Institute of Medicine Care Management Plan.Pharma giant Roche is set to acquire oncology EHR software firm Flatiron Health in the first half of 2018, the companies announced today in a statement. To qualify for the payments, participating providers must adhere to several new CMS requirements.įlatiron Health Senior Vice President, Clinical Oncology Bobby Green, MD, noted the company has planned for several Oncolog圜loud software platform enhancements to make it easy for cancer centers to easily participate in value-based care programs, such as the OCM. The Oncology Care Model is a five-year voluntary program in which participating providers will receive both a care management fee and shared savings. Today, nearly 1,000 cancer care providers are ready to employ the Oncology Care Model because they are using Flatiron Health technology and services, company executives say. Flatiron also pointed to its new version of OncoAnalytics, which the company describes as 'a first-of-its-kind analytics tool. As the government's new Oncology Care Model takes effect, Flatiron Health is highlighting its OncoEMR, a cloud-based electronic health record designed specifically for medical oncology.įlatiron also pointed to its new version of OncoAnalytics, which the company describes as "a first-of-its-kind analytics tool."īoth the EHR and the analytics technology were improved to better support participating cancer care providers with meeting the Center for Medicare and Medicaid Innovation's new Oncology Care Model reporting requirements. As the governments new Oncology Care Model takes effect, Flatiron Health is highlighting its OncoEMR, a cloud-based electronic health record designed specifically for medical oncology.
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