Komodo Health, an AI-enabled data analytics software platform for healthcare providers, announced the acquisition of Breakaway Partners, a provider of life science market access software, for an undisclosed sum.
Komodo Health had recently announced a $220 million Series E funding round led by Tiger Global Management and joined by Casdin Capital.
The latest acquisition comes just months after Komodo Health acquired Mavens, a provider of a data-driven enterprise platform for healthcare and life sciences companies. The terms of the deal were not disclosed.
Breakaway Partners has developed software that can track formulary changes, medical and pharmacy policy criteria, and payer coverage across different regions in real-time.
“Legacy formulary aggregators not only lack the depth and breadth of data to see patient outcomes, but also the intuitive software to unlock the insights,” said Christian Pinsonault, Managing Partner at Breakaway Partners.
Christian Pinsonault added: “Together, we are making it possible to track the impact of policy and formulary decisions on patient outcomes and – more importantly – to inform value-driven strategies that improve those outcomes. It will now be possible to quickly understand and prioritize patient access based not only on the current landscape of existing policy restrictions, but also on the real-world experience of individual patients.”
Komodo Health, founded in 2014, works with providers, payers, and life science companies. The New York-based company developed an artificial intelligence and data analytics tool called Healthcare Map, which can track de-identified patient healthcare encounters. The service can describe patient outcomes of individuals and larger population outcomes according to the company.
“Together, Komodo and Breakaway are pairing the largest map of real-world evidence with real-time market access insights,” said Arif Nathoo, MD, CEO, and co-founder of Komodo Health. “Breakaway is a pioneer in using technology to provide market access teams real-time insights on policy decisions. We couldn’t be more thrilled to add their solutions and expertise to further our mission of reducing the burden of disease.”
One hundred thirty-six digital health companies were acquired in the first half of 2021 compared to 83 in 1H 2020.