Ciox Health raises $30M from Merck, New Mountain
Clinical data exchange and health technology company Ciox Health has raised $30 million in equity investment in a funding round led by Merck Global Health Innovation Fund and private equity owner New Mountain Capital. Merck GHIF is a $500 million venture fund based in New Jersey that invests in emerging digital healthcare technology companies, while New Mountain Capital is a New York-based investment firm with more than $20 bllion under management.
Ciox ensures rapid and secure access to clinical records for its healthcare provider customers. The funding will enhance the company’s core capability of offering data liquidity to reduce healthcare costs and improve quality of care. It will also be used to accelerate the development of the company’s Digital Patient Clone, a health data repository with de-identified patient data for researchers.
The platform gives normalized patient data pieced together from disparate clinical information systems to researchers.
“We are pleased to partner with Ciox, a leader in moving data and information among provider systems, patients and clients,” David M. Rubin, PhD, managing director of Merck GHIF, said in a statement. “Ciox brings a unique approach to accessing real-world data at scale, and we expect them to partner intimately with companies within the GHI oncology digital health portfolio. Ultimately, Ciox’s technology will advance clinical research and accelerate the launch of new treatments.”
Amy joined TriMed Media as a Senior Writer for HealthExec after covering home care for three years. When not writing about all things healthcare, she fulfills her lifelong dream of becoming a pirate by sailing in regattas and enjoying rum. Fun fact: she sailed 333 miles across Lake Michigan in the Chicago Yacht Club "Race to Mackinac."