Switzerland-based pharmaceutical company Roche has agreed to pay $1.9 billion to buy New York-based Flatiron Health Inc., which has both an oncology EHR and data analytics platform.
Privately held Flatiron, which has grown to almost 500 employees, has built a large network of community oncology practices and academic medical centers across the United States. In 2016, it was profiled as one of Healthcare Informatics’ “Up and Comer” startup companies.
In a blog post Feb. 15 on the Flatiron web site, Turner wrote that “by coming together with Roche, Flatiron will have an accelerated ability to achieve our mission while continuing to operate independently with access to greater resources. We have a clear mandate and structure to continue to operate industry-wide with all stakeholders and customers as we build a learning healthcare platform for oncology. Importantly, this does not change our strategic objectives and our priorities; it only helps us get to the finish line faster.”
He described how Flatiron’s relationship with Roche developed. “We first began working with their pharma division as a client soon after we started the company. And then, in late 2015, Roche led our Series C financing round. This kicked off a strategic partnership whereby Roche Pharmaceuticals became a major client and a proponent of our industry-leading real world evidence platform, helping develop our products and services as well as advance our efforts with the FDA and other stakeholders.”