Sovereign Wealth Fund KIA Invests $100 Million in NantHealth, a NantWorks Company
Press Release, News
NantHealth LLC, a NantWorks company, announced today that one of the world's largest sovereign wealth funds, the Kuwait Investment Authority (KIA), has invested $100 million in NantHealth, a cloud-based transformational healthcare IT company converging science and technology through a single integrated clinical platform, to provide actionable health information at the point of care, in the time of need.
The investment will be used by NantHealth to accelerate innovation that will enable better patient care and reduced costs - two key factors affecting health care today. The NantHealth Clinical Operating System (cOS), is the first operating system of its kind in healthcare that is based on supply chain principles and grid service oriented architecture that integrates the knowledge base with the delivery system and the payment system, enabling 21st century coordinated care at a lower cost.
"We believe that evidence-based, molecularly driven medicine will be the cornerstone of future health care delivery," said Dr. Patrick Soon-Shiong, founder and CEO of NantHealth. "Delivery of 21st century, genomically informed care must be shared with the world. Partnering with KIA gives us the global scale to succeed in enhancing patient outcomes and better access to care through secure cloud-based, broadband networks," said Dr. Patrick Soon-Shiong, founder and CEO of NantHealth.
"The United States is still the leader in the world in driving innovation in healthcare. The NantHealth platform enables the rapid sharing of breakthrough medicines and information with the rest of the developed and developing world...a Global Healthcare Cooperative, in which global communities rally together around a common cause of better health," he added.
NantHealth works to transform clinical delivery with actionable clinical intelligence at the moment of decision, enabling clinical discovery through real-time machine learning systems. The company's technology empowers physicians, patients, payers, pharma and researchers to transcend the traditional barriers of today's healthcare system. The NantHealth platform is installed at approximately 260 hospitals, and connects more than 16,000 medical devices collecting more than 3 billion vital signs annually and enables coordinated cancer care to over 3 Million covered lives today.
"Our fund makes investments in companies which not only are the leaders in their field, but which also have the potential to make huge positive impact for multi-generations to come. NantHealth is such a company and we are pleased to be able to contribute to the global footprint of Dr. Soon-Shiong's vision to improve the lives of humanity" said Mr. Bader Mohammad Al-Saad, Chief Executive Officer of the Kuwait Investment Authority.