NantHealth, a healthcare IT subsidiary of US-based computing technology conglomerate NantWorks, secured $200m in equity funding from healthcare IT services provider Allscripts yesterday in return for a 10% stake.
NantHealth is developing a molecular diagnostic test for personalised cancer treatments. The data gained from the test is then fed into a platform that enables medical professionals to access clinical trials, track a patient’s progress and monitor costs in real-time.
Allscripts and NantHealth initially signed a collaboration agreement in March this year to create personalised healthcare services, focusing particularly on cancer care.
NantHealth previously closed a $320m series B round in October 2014 led by sovereign wealth fund Kuwait Investment Authority (KIA), which provided $250m, that also included unnamed additional backers.
Pharmaceutical company Celgene invested $25m in NantHealth in June 2014, two months after KIA committed $100m, though it remains unclear whether KIA’s investment formed part of the series B round.
Smartphone manufacturer Blackberry also invested an undisclosed sum in NantHealth in April 2014 in conjunction with a partnership agreement to develop a secure communications platform for the medical sector.
Concurrent with Allscripts’ stake purchase, Patrick Soon-Shiong, founder of NantWorks, has invested $100m in publicly-listed Allscripts through his personal investment vehicle, NantCapital.