Tensility is thrilled to announce that one of our Tensility Fund II portfolio companies, Health Data Link, is being acquired by Datavant, a company on a mission to connect the world’s healthcare data. This acquisition will further Health Data Link’s mission of building a reliable data sharing ecosystem to support medical research that ultimately improves patient outcomes.
Privacy laws and fragmented data make sharing of customer healthcare data between enterprises very difficult. Health Data Link (HDL) developed a unique solution to this problem, using an AI hashing function to anonymize the data, allowing it to be linkable to other sources. This makes customer data completely anonymous and gives enterprises the ability to connect data from disparate databases. It significantly cuts down on the time needed to share data, since the data is anonymized and does not have to go through time-consuming compliance processes. Through this process, researchers can perform segmentation and analyses on these datasets and drive critical breakthroughs.
HDL’s customers validated the usefulness of the product for population health studies and health economics studies. Over 40 institutions used HDL’s solution, connecting data from over 10 million patients. A leading research network, REACHnet, based in New Orleans used HDL to link data across health care institutions and payers. PRACnet, a patient-centered health plan research network collaborated with REACHnet for an antibiotic study and HDL’s technology “enabled a more accurate understanding of the effects of antibiotic utilization while helping organizations protect patient privacy.”
We were also impressed with the expertise of the cofounders – Satyender, Abel and Jasmin - in the fields of healthcare analytics and research. It has been an absolute pleasure working with the founders and the CEO, Jacob Plummer, for the past year. We are confident in their ability to help Datavant accomplish their mission of connecting the world’s health data to improve patient outcomes and we are excited to watch their progress in solving this important problem. We continue to be big believers in healthcare data and are excited to make future investments in the space.
More information about the acquisition can be found in Datavant’s Press Release here.