Cardinal Health invests in ia and acquires Specialty Networks for 1.2 billion
The group invests in data analysis technology to support healthcare providers and insurers.
2' min read
2' min read
Cardinal Health invests in technology and acquires Specialty Networks. This move is part of a broader process of consolidation in the pharmaceutical sector and investment in innovation in a sector that has rediscovered its centrality with covid, but is now having to deal with declining post-pandemic revenues. In this context, specialisation and new technologies are the only way to restore momentum to budgets
Cardinal Health's deal, which is worth $1.2 billion in cash, is intended to help the group, a drug distributor, expand its services in the specialty drug sector. Specialty Networks uses data analytics to help healthcare providers and insurers improve the targeting of patients with urinary tract, digestive and rheumatologic conditions. Cardinal expects the acquisition to expand its offering for patients with these diseases.
"Expanding into specialised verticals is a top priority for us and we have invested in expanding our offering," commented Jason Hollar, CEO of Cardinal Health, adding: "The acquisition of Specialty Networks strengthens our specialised strategy by providing new capabilities that improve the connection between our downstream and upstream services, enabling us to create value for customers, manufacturer partners and patients.
Specialty Network Technology
.Specialty Networks' PPS Analytics platform analyses data from electronic medical records (EMRs), practice management, imaging and distribution systems and transforms it into meaningful and actionable information for providers, researchers, payers and pharmaceutical experts. Using artificial intelligence, such as continuous learning algorithms and natural language processing, and modern data analysis tools, PPS Analytics analyses millions of numbers, generating information for diagnostic and therapeutic interventions for the patient with the most appropriate timing.
The acquisition is a complement to the Wall Street-listed group's distribution, research and technology capabilities, allowing it to expand its clinical solutions, practice management and distribution offerings to support specialised practices nationwide.
