Cancer is smart. Together, we can be smarter. Accelerating the fight against cancer requires the entire industry to work together. Our products connect community oncologists, academics, hospitals, life science researchers and regulators on a shared technology platform. Together, we can learn from the experience of every patient. Photo courtesy of Flatiron Health

Basel, Switzerland - February 15, 2018

• Acquisition will bring together two companies committed to improving the lives of cancer patients through the evolving field of healthcare data and analytics

• The companies will leverage their combined expertise to advance the use of real-world evidence to set new industry standards for oncology research and development

• Flatiron Health to continue its operations as a separate legal entity

Roche (SIX: RO, ROG; OTCQX: RHHBY) and Flatiron Health, Inc. announced today that the two partners have signed a definitive agreement under which Roche will acquire all shares of Flatiron Health, following on from an existing equity stake of 12.6%.

The transaction is expected to close in the first half of 2018.

OncoCloud is the most comprehensive suite of software and services in community oncology. Using our technology, community clinics are providing better care for patients while remaining efficient, independent and financially successful. Photo courtesy of Flatiron Health

Flatiron Health, a privately held healthcare technology and services company headquartered in New York City, US, is a market leader in oncology-specific electronic health record (EHR) software, as well as 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.

Daniel O’Day, CEO Roche Pharmaceuticals. Photo courtesy of Roche

Daniel O’Day, CEO Roche Pharmaceuticals said,
“This is an important step in our personalised healthcare strategy for Roche, as we believe that regulatory-grade real-world evidence is a key ingredient to accelerate the development of, and access to, new cancer treatments. As a leading technology company in oncology, Flatiron Health is best positioned to provide the technology and data analytics infrastructure needed not only for Roche, but for oncology research and development efforts across the entire industry. A key principle of this is to preserve Flatiron’s autonomy and their ability to continue providing their services to all existing and future partners.”

Photo courtesy of Roche

Flatiron Health has worked with industry leaders and regulators to develop new approaches for how real-world evidence may be used in regulatory decision making, including the design and validation of novel endpoints.

By working closely with its network of community practices and academic medical centers, Flatiron has also developed a suite of software products that uniquely positions the company to advance the use of real-world evidence at the point of care. 

Nat Turner, Flatiron Health Co-Founder and CEO. Photo courtesy of Flatiron Health

Nat Turner, Flatiron Health Co-Founder and CEO said,
“Roche has been a tremendous partner to us over the past two years and shares our vision for building a learning healthcare platform in oncology ultimately designed to improve the lives of cancer patients. This important milestone will allow us to increase our investments in our provider-facing technology and services platform, as well as our evidence-generation platform, which will remain available to the entire healthcare industry.”

With access to billions of data points on millions of cancer patients treated across our network, Flatiron is changing the way life science companies are using real-world data to accelerate research and generate evidence. Photo courtesy of Flatiron Health

Under the terms of the agreement, Roche will make a payment of USD 1.9 billion to Flatiron Health on a fully diluted basis, subject to certain adjustments.

The closing of the transaction is subject to customary closing conditions.

The parties expect that following the closing, Flatiron Health will continue its current business model, network of partnerships and overall objectives.

The integrity of segregated patient protected health information will be preserved, as will dedicated sales and marketing, provider-facing and life science business activities.

Flatiron’s enriched data infrastructure helps hospitals and academic centers unlock the promise of their EHR data. Researchers and clinicians now have access to research-grade insights from within and beyond the walls of their institution. Photo courtesy of Flatiron Health

Allen & Company LLC is acting as financial advisor to Flatiron Health and Wilson Sonsini Goodrich & Rosati is acting as legal counsel to Flatiron Health.

Davis Polk & Wardwell LLP is acting as legal counsel to Roche.


About Flatiron Health

Flatiron Health is a healthcare technology and services company focused on accelerating  cancer research and improving patient care.

The Flatiron platform enables cancer researchers and care providers to learn from the experience of every patient.

Currently, Flatiron partners with over 265 community cancer clinics, six major academic research centers and 14 out of the top 15 therapeutic oncology companies.

For more information, please visit www.flatiron.com  

or contact them at @FlatironHealth.


About Roche

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.

Photo courtesy of Roche

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 


Sources:

Roche

https://www.roche.com/media/store/releases.htm  

Flatiron Health

https://flatiron.com/  



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