Roche and Flatiron Health, Inc. have signed a definitive agreement under which Roche will acquire all shares of Flatiron Health, following on from an existing equity stake of 12.6 percent. The transaction is expected to close in the first half of 2018.
Flatiron Health, a privately held healthcare technology and services company headquartered in New York City, is a provider of oncology-specific electronic health record (EHR) software, as well as curation and development of real-world evidence for cancer research. With its network of community oncology practices and academic medical centers across the U.S., Flatiron Health has created a technology platform designed to learn from the experience of every patient.
“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,” Daniel O’Day, CEO of Roche Pharmaceuticals said, adding that a key principle is to preserve Flatiron’s autonomy and their ability to continue providing their services to all existing and future partners.
Flatiron Health has worked with industry leaders and regulators to develop new approaches for how real-world evidence may be used in regulatory decision making, including the design and validation of novel endpoints.
By working closely with its network of community practices and academic medical centers, Flatiron has also developed a suite of software products that uniquely positions the company to advance the use of real-world evidence at the point of care.
Under the terms of the agreement, Roche will make a payment of $1.9 billion to Flatiron Health on a fully diluted basis, subject to certain adjustments. The closing of the transaction is subject to customary closing conditions.
The parties expect that following the closing, Flatiron Health will continue its current business model, network of partnerships, and overall objectives. The integrity of segregated patient protected health information will be preserved, as will dedicated sales and marketing, provider-facing and life science business activities.
(Source: Roche Holding AG)
Filed Under: Drug Discovery