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Data sharing technology company Datavant announced it has finalized its acquisition of medical data analysis company DigitalOwl.
Datavant offers a platform that allows healthcare records to move between organizations, including hospitals and clinics. The platform also aims to protect data via compliance and security offerings.
DigitalOwl provides insurance and legal professionals with the ability to evaluate medical records, aiming to reduce the time spent on manual reviews. The platform also aims to amplify resource allocation, boost efficiency and increase capacity for professionals in the insurance and legal sectors.
Datavant said that with DigitalOwl's offerings, combined with the tools obtained from Datavant's acquisition of records retrieval company Ontellus, the company will be able to deliver a platform for legal and insurance professionals "that spans managed retrieval, automated summaries, chronology and de-duplication, and AI-enabled predictive analytics."
THE LARGER TREND
Datavant finalized its acquisition of Ontellus in August. The company said the merger created a "fourth business vertical" and will help make and fulfill record requests a more digital process.
In July, Datavant announced its commitment to becoming a Centers for Medicare and Medicaid Aligned Network. The company said it would accelerate initiatives that were already underway to make health information compliantly accessible, secure and actionable.
In May, Datavant acquired Aetion, a company specializing in real-world evidence for healthcare. Through the acquisition, Aetion’s platform became part of Datavant’s offerings, enabling healthcare and life sciences organizations to analyze the clinical impact of therapies both in development and on the market.
That same month, Datavant expanded its collaboration with Boehringer Ingelheim to support Boehringer's real-world evidence initiatives.
DigitalOwl, founded in 2018, scored a $12 million investment last year from insurance giant Reinsurance Group of America. In 2022, it raised $20 million in Series A funding.
