Health information management company Ciox Health and real-world health data company Datavant signed a $7 billion merger agreement June 9.
The combined entity, which will be named Datavant, will allow healthcare providers, governments, academic institutions, insurers, life science companies and health data companies to access and exchange data.
The newly formed company's network will comprise more than 15,000 clinics, 2,000 hospitals, 120 health plans, 100 health data analytics companies, 75 government agencies, 70 academic institutions and nonprofits and 30 life science companies.
"Every decision made in healthcare should be informed by data," Datavant CEO Travis May said in a news release. "Our goal is to create a ubiquitous, trusted, and neutral data ecosystem where parties across the healthcare system can seamlessly and securely exchange data — unlocking better outcomes, faster research, and healthcare at a lower cost."