Veradigm Acquires ScienceIO for Healthcare AI Advancement

Photo:Representative Image

Veradigm, Inc., a leading provider of healthcare data and technology products and solutions, announced that it has signed a definitive agreement to acquire ScienceIO, a leading AI platform and foundation model provider for healthcare. 

The Veradigm Board of Directors has unanimously approved the transaction and is expected to close as promptly as practicable following the satisfaction of customary closing conditions.

ScienceIO’s models power diverse healthcare use cases while preserving patient privacy – including patient anonymization, record linkage, information extraction, summarization and predictive analytics.

Through the acquisition, Veradigm expects to Leverage ScienceIO’s AI platform to create its own proprietary large language models on Veradigm’s rich data set, which spans a comprehensive network of over 400,000 providers and over 200 million patients, while ensuring data integrity and patient privacy; Fast track the launch of new features across Veradigm’s business to enhance the customer experience.

 This injection of AI is an investment across the entire Veradigm portfolio, including the Provider, Payer, and Life Science businesses; it provides the Company with a growth engine for the future by repositioning Veradigm as a leader in the healthcare data intelligence market and, Ultimately deliver greater value to customers and better outcomes to patients throughout the healthcare ecosystem.

“Our core business continues to be strong, profitable, and healthy, and we are accelerating our growth strategy with this acquisition,” said Dr. Yin Ho, Veradigm’s Interim CEO and a member of the Company’s Board. “Veradigm has built one of the most unique and valuable assets in the healthcare industry: a large-scale, high-quality data set that spans providers, payers, and life sciences companies.

 By building on our existing partnership and fully integrating ScienceIO’s AI platform, we can extract more accurate insights from this data set and create an AI center of excellence to empower Veradigm’s portfolio across all our business units with market-leading capabilities. 

This allows us to offer more differentiated and advanced products to our providers, payers, and life sciences customers, ultimately leading to higher quality, lower costs for patients, and the repositioning of Veradigm for technology and data products advanced setup as a company.

 "We are well positioned for future growth and value creation," said Greg Garrison, Chairman of Veradigm's Board of Directors. We will be at the center of the biggest change in healthcare as the industry focuses on value-based care while reducing administrative burdens. The Board of Directors, Yin, and President Tom Langan led this change. I have full confidence in him to lead the Company."