Billionaire firm NantHealth to become IPO with Allscripts investment
Allscripts Healthcare Solutions, Inc. disclosed today (Tuesday, June 30) that it would pay $200 million for a 10 percent stake in Dr. Patrick Soon-Shiong’s NantHealth firm—valuing it at $2 billion.
According to an article by the LA Times, Soon-Shiong plans to offer shares in his health care company to the public by the end of the year due to the investment.
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Soon-Shiong is also investing $100 million of his personal funds in Allscripts as the financial investments strengthen the partnership between the two companies.
“For the first time, we’ve crossed the chasm from the anatomy of the human being, to the physiology of the human being to the molecular profile of the human being,” Soon-Shiong told the news source. “And we can relate that all to the treatment and the outcome.”
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The two companies are expected to combine diverse medical records and genetic information “to seek personalized patient treatment.”
According to Soon-Shiong, the partnership is a key step in getting NantHealth ready to go public and predicts the public offering will happen sometime this year.
“Our joint efforts will help Allscripts lead the way in our vision of delivering … precision-based medical solutions to physicians and patients,” said Paul M. Black, president and chief executive of Allscripts.
NantHealth is converging biomolecular medicine and bioinformatics with technology services to empower physicians, payers, pharma and researchers. The company is advancing diagnostics to better identify and target specific disease characteristics.
With over 180,000 physicians as clients, Allscripts offers a full suite of population health solutions and delivers the portfolio flexibility to work with all major EHR applications in the current market.
[SOURCE: LA Times]
NHS trials test that predicts sepsis 3 days in advance
A new test that can predict sepsis before the patient develops symptoms is being trialled at a National Health Service (NHS) hospital in the south of England.
Clinicians at Portsmouth’s Queen Alexandra Hospital are leading medical trials of the blood test, which they hope will help them save thousands of lives a year.
The test is being developed by government spin-out company Presymptom Health, but the research began over 10 years ago at the Defence Science and Technology Laboratory (Dstl). This included a study of 4,385 patients and more than 70,000 samples, the largest study of its kind at the time.
From the samples taken, a clinical biobank and database were generated and then mined using machine learning to identify biomarker signatures that could predict the onset of sepsis. The researchers found they were able to provide an early warning of sepsis up to three days ahead of illness with an accuracy of up to 90%.
Unlike most other tests, Presymptom Health identifies the patient’s response to the disease as opposed to detecting the pathogen. This is an important differentiator, as sepsis occurs as a result of the patient's immune system’s overreaction to an infection or injury, which can then cause life-threatening organ dysfunction.
Worldwide, an estimated 49 million people a year contract sepsis, while in the UK almost two million patients admitted to hospital each year are thought to be at risk of developing the condition. If Presymptom's test is effective, it could save billions of pounds globally and improve clinical outcomes for millions of sepsis patients.
The initial trials at Queen Alexandra Hospital will last 12 months, with two other sites planned to go live this summer. Up to 600 patients admitted to hospital with respiratory tract infections will be given the option to participate in the trial. The data collected will be independently assessed and used to refine and validate the test, which could be available for broader NHS use within two years.
If successful, this test could also identify sepsis arising from other infections before symptoms appear, which could potentially include future waves of COVID-19 and other pandemics.
Dr Roman Lukaszewski, the lead Dstl scientist behind the innovation, said: “It is incredible to see this test, which we had originally begun to develop to help service personnel survive injury and infection on the front line, is now being used for the wider UK population, including those fighting COVID-19.”