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NANTWORKS AND NANTHEALTH COMPLETE ACQUISITION OF NAVINET, AMERICA’S LEADING HEALTHCARE COLLABORATION NETWORK

Acquisition scales NantHealth’s cloud-based platform of services to deliver interoperability, connectivity, real-time decision support and a single sign-on operating system to over 450,000 active provider users and all-payer access to 450+ commercial and government plans nationally, covering almost 100 million lives and over 30 million monthly transactions

NaviNet Open will serve as a nationwide scalable, real-time access point and secure web-based portal for patients and providers to receive breaking news about novel clinical agents and to access active cancer clinical trials locally

Los Angeles, CA and Boston, MA – January 5, 2016— NantWorks, and its majority-owned subsidiary NantHealth, LLC, a cloud-based information technology provider combining genomic science and big data to transform healthcare, today announced that they have completed the acquisition of  NaviNet, Inc., the nation’s leading healthcare technology company of payer-provider collaboration solutions. The acquisition continues NantHealth’s vision of delivering on whole health systems integration and revolutionizing the patient-clinician experience by bringing real-time molecular and evidence-based insights to the point of care. NantVentures, the private equity arm of NantWorks participated in the financing. Financial terms were not disclosed.

“The acquisition of NaviNet completes our 10-year vision at NantWorks and NantHealth to integrate and coordinate our complex healthcare ecosystem from the knowledge domain, to the care delivery domain and now to the payer domain, as a single sign-on, seamless, cloud-based, secure adaptive learning system for patients, payers, and providers,” said Dr. Patrick Soon-Shiong, Founder and Chief Executive Officer of NantHealth. “NaviNet has a tremendous, long-term customer base of more than 40 health plans – Blue Cross Blue Shield payers, Aetna, Cigna, and many others – a nationwide network of more than 450,000 active end-users across all 50 states, and an All-Payer Access provider portal to 450+ commercial and government plans nationally built on NaviNet Open, the company’s payer-provider collaboration platform. This cloud-based system allows provider access to over 90% of covered lives in the United States and will serve as a transformative platform for the communication of cutting-edge knowledge to all.”

Since the launch of NaviNet Open in 2014, the company’s applications have expanded beyond classic administrative transactions such as insurance verification and claims management into the intimate administrative and clinical collaboration needed both in chronic disease management and newly reimbursable genetic and oncological strategies, with expanded provider access to 450+ commercial and government plans nationally. For example, the company’s Document Exchange service enables HIPAA-safe exchange of clinical information among multiple medical management, informatics, and care delivery teams. The system will serve as a nationwide, scalable real-time access point and secure web-based portal for patients and providers to receive breaking news information about novel clinical and immunotherapy agents, and to access active cancer clinical trials locally, in this age of next-generation genomic medicine.

Dr. Soon-Shiong added, “By combining NaviNet Open’s applications – eligibility and benefits from more than 450 commercial and government plans, referrals, authorizations, document exchange, claims management, and more – with NantHealth’s interoperability, decision support and connectivity platforms and with NantOmics supercomputer predictive modeling platforms, we are now poised to be the nation’s leading healthcare collaboration network by transforming the payer-provider relationship to evolve from transactions to interactions and finally to collaboration. Moreover, leveraging NaviNet’s nationwide network across more than 170,000 active provider offices and 2,000 hospital settings will allow us to reach more doctors with our genomics, decision support, and connectivity solutions to enable better care coordination at lower costs for patients. The combination of leading-edge genomic science and best-in-class applications, delivered through NantHealth, will be critical for winning the wars against cancer, hypertension, diabetes, and other life-threatening diseases. Our dream was to address the cognitive overload that faces clinicians today especially in the complexity of cancer, and support community oncologists as well as major academic centers. Finally, we have the infrastructure in place to make this a reality.”

“NaviNet is our most significant acquisition to date,” said Robert Watson, President of NantHealth. “The company’s large installed base of health plans and provider offices gives us the payer relationships and scale for delivering best-in-class genomics and clinical solutions directly to providers. In addition, NaviNet’s payer-provider solutions complement NantHealth’s existing NantOS clinical operating and supply chain operating system, establishing NantOS as the only integrated cloud-based population health management platform that encompasses patient, provider and payer interactions in real time. Together, we can now go to market with the industry’s most comprehensive and integrated portfolios for cancer care, population health, and wellness by deeply engaging every member of the healthcare ecosystem – payers, providers, patients, and pharma.”

“We are excited to join forces with NantHealth,” said Frank Ingari, president and chief executive officer of NaviNet. “By combining NaviNet’s scale with the power of NantHealth’s genomic and clinical information technology solutions, we will be able to jointly deliver accurate and relevant information to our network of over 170,000 provider offices. NaviNet’s fastest growing user base is the clinical team. Doctors, nurses, and care coordinators have embraced our new products such as NaviNet Open Document Exchange and All-Payer Access. NantHealth’s powerful and unique set of unique clinical solutions will accelerate this trend and put NaviNet at the heart of collaboration between clinicians in the service of the patient.”

With the acquisition of NaviNet, NantHealth adds roughly 330 new associates including an experienced management team who has previously held leadership roles at health plans, healthcare IT companies, and enterprise, cloud-based solutions providers. NantHealth also expands its worldwide presence to include new offices in Boston, Massachusetts and Belfast, Northern Ireland.

About NantHealth
NantHealth, a member of the NantWorks ecosystem of companies, is a transformational healthcare IT company converging science and technology through a single integrated clinical platform, to provide actionable health information at the point of care, in the time of need, anywhere, anytime. NantHealth works to transform clinical delivery with actionable clinical intelligence at the moment of decision, enabling clinical discovery through real-time machine learning systems. The company’s technology empowers physicians, patients, payers and researchers to transcend genomics into the world of proteomics and the traditional barriers of today’s healthcare system. By converging molecular science, computer science and big data technology the Nant Service Oriented Operating System (NantOS) platform empowers physicians, patients, and payers to coordinate best care, monitor outcomes and control cost in real time. This is the first operating system of its kind in healthcare that is based on supply chain principles and grid service oriented architecture and integrates the knowledge base with the delivery system and the payment system, enabling 21st century coordinated care at a lower cost. For more information please visit www.nanthealth.com and follow Dr. Soon-Shiong on Twitter @solvehealthcare.

About NantVentures
NantVentures is the private investment arm of NantWorks and California Capital.  NantVentures funds transformative ideas and technologies that enable enduring improvements in human life with a primary focus on healthcare and the life sciences, medical diagnostics, mobile technology, semi-conductors, nano-optics, artificial intelligence, cloud computing, alternative energy and scientific innovations that are on the bleeding edge of biology, chemistry, and physics.  Capital investments in private and public entities range from single digit to multimillion dollar commitments.  For more information, please contact info@NantVentures.com and see www.NantVentures.com

About NaviNet
NaviNet is America’s leading Healthcare Collaboration Network (HCN). NaviNet has long-term customer relationships with the nation’s largest health plans and a nationwide network of over 450,000 clinical and administrative professionals – representing 60% of the nation’s physicians – who have access to 450+ commercial and government payers and over 90% of covered lives in the United States.  Through NaviNet Open, our payer-provider collaboration platform, and our ecosystem of partners, we help payers and providers lower costs and boost care quality, while enhancing the provider and patient experience. For more information, please visit www.NaviNet.net and follow us @NaviNet on Twitter.

January 5, 2016 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 10 blogs containing over 8000 articles with John having written over 4000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 16 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John is co-founder of InfluentialNetworks.com and Physia.com. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and LinkedIn.

NantHealth Receives Investment From Verizon

Verizon is announcing a connection with NantHealth LLC, a privately held company owned by NantWorks LLC, that focuses on delivering next-generation care through the use of advanced secure fiber networks, cloud computing, and wireless mobile technology.  Verizon’s investment will be used to accelerate innovation for NantHealth LLC.

Funding to Help Accelerate Innovation in Health Care  

LOS ANGELES and NEW YORK – NantHealth LLC, a privately held company owned by NantWorks LLC, which is focused on delivering next-generation care through the use of advanced secure fiber network, cloud computing and wireless mobile technology, today announced an equity investment by Verizon Investments LLC, a subsidiary of Verizon Communications.

The investment will be used by NantHealth to accelerate innovation that will enable better patient care and reduced costs – two key factors affecting health care today.  Terms of the transaction were not disclosed.

“We believe that evidence-based medicine will be the cornerstone of future health care delivery,” said Dr. Patrick Soon-Shiong, founder and CEO of NantHealth.  “Partnering with Verizon gives us the national scale to succeed in enhancing patient outcomes and better access to care through secure broadband networks and our mobile platform. With Verizon’s state-of-the-art fiber-optic network, communication and information services to enterprises in more than 150 countries including all of the Fortune 500 companies, the alliance will accelerate NantHealth’s mission to transform health care in our nation.”

John Stratton, president of Verizon Enterprise Solutions, said: “Our close collaboration with NantHealth underscores Verizon’s commitment to dramatically improve the delivery of health care in the U.S. and abroad. We believe that our joint efforts with Dr. Soon-Shiong will drive down health care costs and significantly improve the industry’s ability to deliver quality care. Our goal is nothing short of transforming health care as we know it.”

About NantHealth

NantHealth LLC is a subsidiary of NantWorks LLC, a company founded and led by Dr. Patrick Soon-Shiong. Its core mission is to converge a wide range of digital technologies to transform scientific research and healthcare. It is building an integrated evidence-based, genomically-informed, personalized approach to the delivery of care and the development of next generation diagnostics and therapeutics. For more information, see www.nantworks.com.

About Verizon

Verizon Communications Inc. (NYSE, Nasdaq: VZ), headquartered in New York, is a global leader in delivering broadband and other wireless and wireline communications services to consumer, business, government and wholesale customers.  Verizon Wireless operates America’s most reliable wireless network, with nearly 96 million retail customers nationwide.  Verizon also provides converged communications, information and entertainment services over America’s most advanced fiber-optic network, and delivers integrated business solutions to customers in more than 150 countries, including all of the Fortune 500.  A Dow 30 company with $111 billion in 2011 revenues, Verizon employs a diverse workforce of 184,500.  For more information, visit www.verizon.com.

November 20, 2012 I Written By