IBM Acquires Explorys to Make Watson Health Unit More Insightful
IBM has acquired Explorys, a healthcare intelligence cloud company that has built one of the largest clinical data sets in the world. The deal strengthens the company's position in the healthcare analytics and cloud computing arena. The move also help fuel IBM Watson Health Cloud, the company's newest business unit. Financial terms of the deal were not disclosed.
IBM said in a statement that: “The acquisitions bolster IBM's efforts to apply advanced analytics and cognitive computing to help primary care providers, large hospital systems, and physician networks improve healthcare quality and effect healthier patient outcomes.”
Based in Cleveland, Ohio, Explorys has developed one of the largest healthcare databases in the world, derived from numerous and diverse financial, operational, and medical record source systems. Its clients include some of the most prominent healthcare systems in the United States. The company's HIPAA-enabled platform is currently serving 26 major integrated healthcare systems, 360 hospitals, and over 317,000 providers to identify patterns in diseases, treatments, and outcomes.
Founded in 2009 as an innovation spin off from Cleveland Clinic, the Cleveland-based company provides a secure, cloud-based analytics platform that leverages big data for clinical integration, predictive analytics, and business intelligence. Its networks include Cleveland Clinic, Trinity Health, St. Joseph Health System, Mercy Health, Adventist Health System and many others with patients in all the 50 states of the country.
Explorys has been named a leader in the recent IDC MarketScape report, entitled “US Health Care provider Clinical and Financial Analytic Standalone Platform Vendor Assessment.” IDC MarketScape is a vendor analysis model designed to provide an overview of the competitive fitness of IT vendors in a given market. The report provides an evaluation of the leading clinical and financial analytics platforms for the healthcare industry. Explorys is named as a leader in this report because of its high ratings from its customers. The company invests a significant amount of resources in R&D, as its product road map reflects a focus on growing its functionality to meet the growing needs of its healthcare system clients.
Explorys will become part of IBM's new Watson Health Cloud, a new platform that allows information to be securely de-identified, shared and combined with a dynamic and constantly growing health data. Its offerings strengthen the IBM Watson Health platform and empower IBM's vast ecosystem of clients, technology partners and medical researchers. The deal is subject to regulatory review and expected to close later this year.
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