Roche Completes Acquisition of Flatiron Health
Roche (SIX: RO, ROG; OTCQX: RHHBY) today announced that it has completed the acquisition of Flatiron Health, a privately held healthcare technology and services company headquartered in New York City, US. Flatiron Health is a market leader in oncology-specific electronic health record (EHR) software as well as in the curation and development of real-world evidence for cancer research. With its large network of community oncology practices and academic medical centers across the US, Flatiron Health has created a technology platform designed to learn from the experience of every patient.
Under the terms of the agreement, the transaction value for the acquisition of Flatiron Health was USD 1.9 billion on a fully diluted basis, subject to certain adjustments. Flatiron Health will continue its operations as a separate legal entity and its current business model, network of partnerships and overall objectives remain. The integrity of segregated patient protected health information will be preserved, as will dedicated sales and marketing, provider-facing and life science business activities.
As oncology leaders in their respective fields, the acquisition allows both companies to accelerate progress towards data-driven personalised healthcare in cancer.
Roche is a global pioneer in pharmaceuticals and diagnostics focused on advancing science to improve people’s lives. The combined strengths of pharmaceuticals and diagnostics under one roof have made Roche the leader in personalised healthcare – a strategy that aims to fit the right treatment to each patient in the best way possible.
Roche is the world’s largest biotech company, with truly differentiated medicines in oncology, immunology, infectious diseases, ophthalmology and diseases of the central nervous system. Roche is also the world leader in in vitro diagnostics and tissue-based cancer diagnostics, and a frontrunner in diabetes management.
Founded in 1896, Roche continues to search for better ways to prevent, diagnose and treat diseases and make a sustainable contribution to society. The company also aims to improve patient access to medical innovations by working with all relevant stakeholders. Thirty medicines developed by Roche are included in the World Health Organization Model Lists of Essential Medicines, among them life-saving antibiotics, antimalarials and cancer medicines. Roche has been recognised as the Group Leader in sustainability within the Pharmaceuticals, Biotechnology & Life Sciences Industry nine years in a row by the Dow Jones Sustainability Indices (DJSI).
The Roche Group, headquartered in Basel, Switzerland, is active in over 100 countries and in 2017 employed about 94,000 people worldwide. In 2017, Roche invested CHF 10.4 billion in R&D and posted sales of CHF 53.3 billion. Genentech, in the United States, is a wholly owned member of the Roche Group. Roche is the majority shareholder in Chugai Pharmaceutical, Japan. For more information, please visit www.roche.com.
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Flatiron Health is a healthcare technology and services company focused on accelerating cancer research and improving patient care. Our platform enables cancer researchers and care providers to learn from the experience of every patient. Currently, Flatiron partners with over 280 community cancer practices, seven major academic research centers and over 15 of the top therapeutic oncology companies. For more information, please visit www.flatiron.com or follow us @FlatironHealth.