Integrating innovative data privacy expertise with a global healthcare information & technology service leader, strengthening and driving Ontario’s digital healthcare security footprint.
TORONTO, ON (May 26, 2016) – FACIT is pleased to announce that IMS Health (NYSE:IMS) has acquired privately-held Privacy Analytics Inc., a FACIT portfolio company. The transaction combines Privacy Analytics’ leading edge expertise in health data anonymization and de-identification with IMS Health’s broad range of healthcare information, technology and services solutions, particularly its Real-World Evidence (RWE) capabilities. IMS Health’s mission-critical anonymous information and technical strength in providing its life sciences clients with R&D and commercial solutions positions Privacy Analytics to continue to expand its suite of innovative data governance software and expertise on a global scale. Reflecting Ontario’s innovative strength and expertise in healthcare technologies, the acquisition also allows Privacy Analytics to maintain a strong presence within the province, with solutions continued to be offered to the market, Privacy Analytics and IMS Health clients as an independent suite of products. Terms of the transaction have not been disclosed.
With its long-standing practices for safeguarding patient privacy, IMS Health’s global expertise in developing and providing secure connected healthcare provides a vision and growth strategy that is aligned well with Privacy Analytics’ scalable de-identification software and services. This expertise will be leveraged to help develop innovative approaches and enhance the usability as well as value of complex, real-world health data globally. In turn, both Privacy Analytics and IMS Health’s capabilities in providing leading solutions in responsible data management and commercial execution in the life sciences are strengthened.
“As the Privacy Analytics’ first seed investor, FACIT is pleased to have been able to support Privacy Analytics and help drive forward its novel de-identification technology platform in an era and sector associated with critically stringent requirements to protect patient data,” said Jeff Courtney, FACIT’s Chief Commercial Officer. “We congratulate Dr. El Emam and his team at Privacy Analytics on this important milestone and look forward to the continued development of its innovative technology with their new partners at IMS Health.”
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About Privacy Analytics
Privacy Analytics enables healthcare organizations to quickly and easily apply a risk-based responsible de-identification methodology that ensures individual privacy and legal compliance. Privacy Analytics is the only company to offer expert training, software, peer-reviewed methodology and valued-added services that protect the privacy of individuals while enabling organizations to share data for secondary purposes. Privacy Analytics’ customers represent half of Fortune 50 healthcare companies. Privacy Analytics’ software is compliant with regulations and globally accepted standards and guidelines, including those from the Institute of Medicine (IOM), Health Information Trust Alliance (HITRUST), PhUSE, the Council of Canadian Academies, as well as HIPAA and the EU Data Protection Directive 95/46/EC. Additional information is available at www.privacy-analytics.com.
About IMS Health
IMS Health is a leading global information and technology services company providing clients in the healthcare industry with end-to-end solutions to measure and improve their performance. Our 7,000 services experts connect configurable SaaS applications to 15+ petabytes of complex healthcare data in the IMS One™ cloud platform, delivering unique insights into diseases, treatments, costs and outcomes. The company’s 15,000 employees blend global consistency and local market knowledge across 100 countries to help clients run their operations more efficiently. Customers include pharmaceutical, consumer health and medical device manufacturers and distributors, providers, payers, government agencies, policymakers, researchers and the financial community.
As a global leader in protecting individual patient privacy, IMS Health uses anonymous healthcare data to deliver critical, real-world disease and treatment insights. These insights help biotech and pharmaceutical companies, medical researchers, government agencies, payers and other healthcare stakeholders to identify unmet treatment needs and understand the effectiveness and value of pharmaceutical products in improving overall health outcomes. Additional information is available at www.imshealth.com.
David Koehler, Director, Fund Operations
FACIT actively manages our diverse portfolio of Ontario oncology assets (including therapeutics, imaging, diagnostics, and technology platforms) that span all stages of commercialization, from proof-of-concept to clinical development.
With critical seed funding, FACIT makes it possible for Ontario’s best cancer research discoveries to compete globally and reach patients.