Ciox announces acquisition of biomed-NLP technology company, Medal
Category: #health  By Saipriya Iyer  Date: 2020-07-30
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Ciox announces acquisition of biomed-NLP technology company, Medal

Ciox Health has recently announced the acquisition of Medal, Inc., a biomed-NLP (biomedical Natural Language Processing) technology company based in San Francisco. Medal is also a leader in integrating AI techniques for the unstructured medical record data interrogation. The deal will accelerate the capabilities of enabling RWD (real-world data) to support researches in advancing patient care.

Due to the rising adoption of real-world data by pharmaceutical & research organizations to accelerate their clinical research, reliable information as well as interpretation of the phenotypic data from medical records have become crucial. The software offered by Medal helps in identifying, contextualizing, and interpreting the narrative-based medical notes, which will increase the creation of research-grade data.

According to Dr. Andy McMurry, Medal’s Chief Science Officer, medical records of more than 100 million from the U.S. providers are reviewed and retrieved by Ciox every year. This has presented an unprecedented opportunity to develop a longitudinal perspective to the clinical investigations. Through the adoption of Medal AI, the healthcare information management company will be capable of reducing human expert time and increasing the usage of patient data to support clinical trials and biomedical discovery across various diseases, including COVID-19.

The recent transaction is the 3rd announcement of Ciox for its Real Data business, including its previous collaborations with Merck and LabCorp. The company has been attracting interest from the U.S. healthcare ecosystem as it aids in collecting the fragmented health data. The recent acquisition will assist Medal with an additional feature of Ciox’s DataFit Platform, which will enable a faster and consistent translational research.

As per the statement made by Ciox’s CEO, Pete McCabe, the acquisition of the technology and team of experts at Medal will drive its RWD offerings. The company will help supply the research-grade, de-identified, HIPAA-compliant, and consented RWD in various complex clinical use cases for researchers. The need for RWD can be observed from the ongoing COVID-19 researches that require NIH, CDC, and FDA approvals.

Source credit:

https://hitconsultant.net/2020/07/28/ciox-health-acquires-biomedical-nlp-company-medal/#.XyEBqIgzbIU



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Saipriya Iyer

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Saipriya Iyer

Saipriya Iyer develops content for Market Size Forecasters, Algosonline, and myriad other platforms. A computer engineer by profession, she ventured into the field of writing for the love of playing with words. Having had a previous experience of 3 years under her bel...

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