NantHealth Acquires NaviNet Expanding Reach in Health Ecosystem
FREMONT CA: NantHealth, Culver City, CA, based healthcare IT Company announced the acquisition of NaviNet, a patient insurer communication platform provider, headquartered in Boston. The deal grants NantHealth entry into the payer market and leverages NaviNet’s nationwide network to reach more doctors equipped with genomic and connectivity solutions and enable care coordination at lower cost for patients.
NantHealth and its parent company NantWork, led by entrepreneur Dr. Patrick Soon-Shiong, have had pioneering advancement integrating IT to Health Analytics especially in the arena for personalized cancer care. As Soon-Shiong quoted during the announcement, “The acquisition of NaviNet completes our 10-year vision at NantWorks and NantHealth to integrate and coordinate our complex healthcare ecosystem from the knowledge domain, to the care delivery domain and now to the payer domain, as a single sign-on, seamless, cloud-based, secure adaptive learning system for patients, payers, and providers”.
NantVentures, the private equity arm of NantWorks participated in the financing. The acquisition would materialize to a fully fledged health ecosystem that would be able to network with insurers through NantOS, NantHealth’s clinical operating and supply chain operating system. Combined, NaviNet’s administrative network and NantHealth’s clinical platform will cover nearly 100 million people.
NaviNet, initially provided physicians insurance information about patients but expanded to clinical collaboration through it service called NaviNet Open. “The reason we've acquired NaviNet is not what it currently is but what it will be. Here's an opportunity to really have this bidirectional communication tool," added Soon-Shiong. Robert Watson, president of NantHealth attributes the NaviNet purchase as the company’s most significant acquisition.
NantHealth has been going through a number of product launches and notable acquisitions in the recent past. The company had also planned an Initial Public Offering (IPO) but in November 1025 it was announced that IPO would be postponed. The financial details of the acquisition were not disclosed. In an October interview, Frank Ingari, NaviNet CEO placed the company’s revenue between 50 Million to 100 Million.