Ciox Health to merge $7 billion with Datavant

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9 June - Datavant and Ciox Health agreed to merge in a deal valued at $7 billion, the health data companies said on Wednesday.

The San Francisco based Datavant is a unit of Roivant Sciences which was created to provide data sharing services in healthcare industry.

The company, called Datavant to be named, will offer the ability to exchange data securely among its network, which includes more than 2,000 clinics and 15,000 hospitals as well as data analytics companies and government agencies.

The companies said the deal is supported by its investment group New Mountain Capital, Cigna Ventures, Labcorp, Roivant Sciences and Labcorp.

The deal is expected to close in the third quarter and the new company will be led by Ciox Chief Executive Pete McCabe, the companies said. This phrase is interesting in the definition of, “Introduction to a situation.”

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