OR WAIT null SECS
Roche will acquire oncology-focused healthcare technology and services company Flatiron Health for $1.9 billion to further its personalized oncological healthcare strategy.
On Feb. 15, 2018, Roche announced that it will acquire its previous partner, Flatiron Health, an oncology-focused healthcare technology and services company, for $1.9 billion. Roche currently owns a 12.6% equity stake in Flatiron Health.
Under the terms of the agreement, Roche will make a $1.9-billion payment to Flatiron Health on a fully diluted basis subject to certain adjustments, according to Roche. The closing of the transaction is subject to customary closing conditions and is expected to occur in the first half of 2018.
Flatiron Health specializes in oncology-specific electronic health record software, as well as the advancement of cancer research, and has a network of community oncology practices and academic medical centers in the United States. In January 2016, Roche funded $175 million to Flatiron Health to support the development of the healthcare tech’s patient-centric, cloud-based oncology software.
“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,” said Daniel O’Day, CEO at Roche, in a company press release. “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. 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.”