June 9 (Reuters) - Datavant and Ciox Health have agreed to
merge in a deal valued at $7 billion, the health data companies
said on Wednesday.
The combined company, to be named Datavant, will allow a
secure exchange of data among its network, which includes more
than 2,000 U.S. hospitals and 15,000 clinics as well as data
analytics companies and government agencies.
The companies said the deal is supported by their group of
investors led by investment firm New Mountain Capital, Labcorp
, Cigna Ventures and Roivant Sciences.
Roivant is an existing investor in San
Francisco-headquartered Datavant, which provides data sharing
services to the healthcare industry.
Investment firm Sixth Street, which has also made a
significant new investment, will join the merged company's board
of directors at deal completion, Datavant and Ciox Health added.
The new company will be led by Ciox Chief Executive Officer
Pete McCabe, while Datavant CEO Travis May will take on the role
of president and join the board of directors, the companies
The deal is expected to close in the third quarter, the
(Reporting by Amruta Khandekar; Editing by Arun Koyyur and