Ciox Health Secures $30 Million Investment from Merck Global Health Innovation Fund and New Mountain Capital to Accelerate Development of Digital Patient Clone Platform

On July 26, VCBeat (WeChat ID: vcbeat) learned from foreign media reports that Ciox Health, a leading U.S. clinical data exchange company, announced it had secured $30 million in equity investment, led by new investors Merck Global Health Innovation Fund and private equity owner New Mountain Capital. The funding will be used to strengthen Ciox Health’s core capabilities in providing clinical data liquidity, with the aim of reducing healthcare costs and improving patient outcomes.

Ciox is committed to securely and rapidly providing clinical records to both healthcare providers and patients, thereby improving medical outcomes. This round of financing will primarily be used to accelerate the development of Ciox’s Digital Patient Clone (DPC). DPC is a health data warehouse that provides researchers with de-identified real-world patient data at scale and on demand. Through its DPC platform, Ciox can aggregate digital fragments from disparate clinical information systems, standardize the data, and make it available for research use. This investment will also enable Ciox’s vendor partners to contribute to the advancement of clinical research and development without incurring additional administrative burdens.

Pete McCabe, CEO of Ciox Health, stated, “We are honored to secure this financing, and we will deploy the funds to enhance our technology services to help more patients.”

Dr. David M. Rubin, Managing Director of Merck GHIF, added, “We are delighted to partner with Ciox, a leader in moving data information among vendor systems, patients, and customers.” “Ciox offers a unique approach to accessing real-world data at scale, and we look forward to their close collaboration with companies in GHI’s oncology digital health portfolio. Ultimately, Ciox’s technology will advance clinical research and accelerate the launch of new therapies.”

Headquartered in Alpharetta, Georgia, USA, Ciox Health is a health services company. By leveraging the industry’s most extensive vendor network, expertise in record retrieval and Health Information Management (HIM), facilitating clinical data access flows, and enhancing the accuracy of health information, Ciox Health enables the management and exchange of health information. With its robust partnership network and specialized expertise, Ciox Health delivers the highest levels of healthcare service quality and process optimization to its partners, including three-fifths of U.S. hospitals, more than 16,000 physician practices, and 100 health plans nationwide.

Merck Global Health Innovation Fund is an innovative fund portfolio company. By leveraging its healthcare ecosystem strategy, it develops corporate medical venture capital investments globally. This investment strategy connects innovative companies with complementary technologies to develop integrated healthcare solutions. Since the end of 2010, Merck GHI has made more than 20 investments in digital health companies.

New Mountain Capital is a private equity and growth capital investment firm focused on non-cyclical growth industries. Headquartered in New York City, the company was founded by Steven B. Klinsky in 2000. It emphasizes business growth and value creation in its investments, rather than relying on high risk or debt leverage. New Mountain manages four private equity funds and approximately $15 billion in capital for Vantage and NMFC.

(Compiled by: Xu Wenjuan)