Roche has completed the acquisition of healthcare technology and services company Flatiron Health for $1.9bn.
The deal, which increases Roche’s existing 12.6% equity stake in Flatiron, will enable the companies to advance data-driven personalised healthcare in cancer.
Flatiron will continue operating as a separate legal entity and retain its existing business model, partnership network and overall objectives.
Roche plans to maintain the integrity of segregated patient protected health information, along with sales and marketing, provider-facing, and life science business activities.
When the original agreement was signed in February, Roche CEO Daniel O’Day said that the transaction is in line with the company’s personalised healthcare strategy.
O’Day said: “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.”
Flatiron Health provides oncology-specific electronic health record software products and develops real-world evidence to aid cancer research.
The Flatiron platform enables cancer researchers and care providers to learn from the experience of every patient. Currently, Flatiron partners with over 265 community cancer clinics, six major academic research centres and 14 out of the top 15 therapeutic oncology companies.
Flatiron also partners with various firms and regulators in the industry to devise new methods to use real-world evidence in regulatory decision making.